FCMA returning $58.4M to Ohioans
Facing another year of economic uncertainty and market volatility, customers of Farm Credit Mid-America have something to look forward to. The farmer-owned lender will distribute $260 million in net earnings to eligible customer-owners this month with $58.4 million returning to Ohio farmers including more than $2.2 million to farmers in the counties served by its Wooster office.
This return, made possible through Farm Credit Mid-America’s patronage program, underscores one of the benefits of belonging to the farmer-owned cooperative.
Over the past nine years, Farm Credit Mid-America Board of Directors has approved more than $1.5 billion in net earnings to be returned to eligible customer-owners in its service territory of Arkansas, Indiana, Kentucky, Missouri, Ohio and Tennessee.
“Farm Credit Mid-America exists to secure the future of rural communities and agriculture. To achieve this, we put our customer-owners first,” said Melanie Strait-Bok, senior vice president of agricultural lending for Ohio. “We understand our customers are facing a lot of uncertainty, and while we can’t take that uncertainty away, returning a portion of net earnings back into their hands is a reminder of our commitment to stand beside them even in the most challenging times.”
Customers use their patronage return in a variety of ways including paying down debt, purchasing new equipment or input purchases ahead of spring planting.
“We know that farmers are resilient and will weather this current economic cycle. We are here to help them along the way. Our patronage program is a reminder of the many cooperative benefits available to them,” Strait-Bok said. “From access to webinars that share best financial practices for their operations, to participating in our annual elections for our board of directors and nominating committee, to seeing the impact of the $5 million we invest back in rural communities to support the next generation of agriculture leaders, we are committed to providing as much value to our customers as possible.”
Patronage is an annual decision made by Farm Credit Mid-America Board of Directors to return earnings to eligible customers. The amount of patronage a customer receives is proportionate to the amount of earnings generated by their eligible business in 2024.
To learn more about Farm Credit Mid-America’s patronage program including eligibility requirements and customer-owner testimonials, visit www.fcma.com/about/patronage.
