,
More than 8,100 Farm Credit Illinois borrowers will receive their share of a $40 million cash distribution this week.
Wayne Eastep/Getty Images
More than 8,100 Farm Credit Illinois borrowers will receive their share of a $40 million cash distribution this week.
This is Farm Credit Illinois’s fourth annual patronage distribution and represents 45.7% of its 2021 net earnings. The board of directors declared the distribution in January after reviewing 2021 year-end financials and projecting capital and business needs for the coming year.
Patronage is distributed proportionally based on the business value each 2021 loan contributed to the cooperative. Checks are delivered the week of June 20.
“Last year’s low upfront interest rates are now even lower, thanks to cash patronage,” Farm Credit board Chairman David Haase said. “Even with today’s pressures in the financial markets, members can pencil in patronage annually thanks to the board’s long-term capital management plan.”
