~News Release from Farm Credit~
$15.5 million is going back into the hands of Farm Credit members across Arkansas in February. Farm Credit finances farms, homes, land, livestock, equipment and more. Farm Credit is not a bank; it is a financial cooperative and shares a portion of profits with members in profitable years.
2016 was another strong year for the four Farm Credit associations headquartered in the state. 10,800 Arkansas member-owners are receiving their share of the $15.5 million in the form of patronage checks this month.
Farm Credit is directed by the members it serves and members have a voice and vote in the associations’ governance. They also share in their cooperatives’ financial success through cooperative returns, which total $184 million in Arkansas since 1997.
$15.5 million back in members’ pockets demonstrates Farm Credit’s financial strength and commitment to the cooperative principle of providing value to members.
With $3.3 billion in assets, AgHeritage Farm Credit Services, Delta Agricultural Credit Association, Farm Credit Midsouth and Farm Credit of Western Arkansas support rural communities and agriculture across the state.
The Farm Credit System additionally supports the rural communities of Arkansas through CoBank agribusiness cooperative loans which provide essential infrastructure services. Combined, Farm Credit organizations provide more than $4 billion in loans, leases and related services in Arkansas and returned $25.8 million to their customer-owners, and the Arkansas economy, this year.
More information available at ARFarmCredit.com.