Farm Credit Midsouth Refunds Over $4 Million to Members!
JONESBORO -- The Board of Directors of Farm Credit Midsouth, ACA has approved the distribution of over $4 million in patronage earnings to eligible stockholders.
The patronage checks will be distributed at Farm Credit Midsouth's annual meeting on Feb. 25 at the Arkansas State University Convocation Center. Since 2005 the Board has approved and distributed over $32 million in patronage earnings to its stockholders/borrowers.
"The Board is proud to be able to return a portion of our earnings to our owner- customers. Our employees have done an outstanding job of operating in the Cooperative spirit that allows us to return this patronage to our owner-customers," said Jane Pirani, Board chair.
"We are glad to be able to return a portion of our earnings to our member-owners," said James McJunkins, president and CEO. "It is another advantage of the cooperative way of doing business."
Farm Credit Midsouth, ACA,(a part of the Farm Credit System) is a federally-chartered cooperative providing over $850M in credit and related services to over 2,000 agriculture producers and rural home owners in 10 Eastern Arkansas counties (Clay, Greene, Craighead, Mississippi, Crittenden, Poinsett, Cross, St. Francis, Lee and Phillips) and three counties in Missouri (Ripley, Carter and Wayne) through its wholly-owned PCA and FLCA subsidiaries.