Local ag-lending cooperative, Premier Farm Credit, will pay a record $6.75 million in cash patronage to its customer-owners in early 2024. The financial services cooperative has returned more than $87 million through its Patronage Dividend Program. This year marks the 27th consecutive year a patronage has been paid.
As a customer-owned cooperative, Premier Farm Credit understands that extra capital can make a big difference in a customer’s operation. The checks are a significant benefit to the member-owners and also to local communities. It is also in line with the mission-driven approach of Premier Farm Credit, to work diligently to support agriculture and rural communities, today and tomorrow.
“At Premier Farm Credit, our goal is to provide exceptional customer service and competitive interest rates to our member-owners,” said Mike Grauberger, President and CEO. “Our patronage program sets us apart, the more we earn, the more we can return to our customers. The impact is substantial, not only for borrowers but also for the local communities we serve.”
“As a board, we work to maintain a financially-sound cooperative that provides strong customer value,” said Becky Lenz, Premier Farm Credit Board Chair. “When we determine the patronage distribution amount at the end of each year, we look at a number of different economic and financial factors; as well as capital needs to sustain the organization over the long term. $6.75 million is a significant payout that goes back into our borrower’s pockets.”
As part of the Farm Credit System (established in 1916), Premier Farm Credit is a mission-driven ag-lending cooperative owned entirely by its borrowers/member-owners. Premier Farm Credit serves northeast Colorado and the surrounding areas by providing loans, leases, insurance and appraisals for agriculture and ag-related businesses. They also provide rural home loans for residences in small towns and on small acreages. Premier Farm Credit has aggregate loan volume of over $1 billion and has offices in Sterling, Fort Morgan, Yuma and Holyoke. You can learn more about them at premieraca.com, or on Facebook, Twitter, LinkedIn or Instagram.
