FCS Financial distributes $3.7 mllion in patronage
Source: Farm Credit Update
February 11, 2008
FCS Financial's Board of Directors announced that they will return $3.7 million to their member-owners in cash patronage for the 2007 calendar year.
Patronage payments will be based on a member's loan business activity with the association. All eligible members will receive a minimum of $20. Each eligible member's patronage check will be available at his or her local FCS Financial office beginning Feb. 25. Each branch office will host a Customer Appreciation Day from 10 a.m. to 7 p.m. on Feb. 25 to distribute patronage checks. Those checks not picked up or delivered by the end of business on March 10 will be mailed to the respective members.
"Since 2006, FCS Financial has returned $6.6 million to our member-owners," FCS Financial CEO Daryl Oldvader said. "Patronage allows them to share in the success of their association. As the experts in rural financing, the sound business decisions made by our board, employees and members have allowed FCS Financial to achieve this financial strength. This strength can help us through unexpected changes in the agricultural and rural economy while supporting future growth and sustaining a cash patronage program in the years ahead."
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