AgHeritage Farm Credit Services (AFCS) will pay a record $8.5 million in profits to its customer-owners this year through its Patronage Program.
The Patronage Program returns a portion of the association’s net earnings to eligible customer-owners. Patronage refunds are based on the proportion of interest paid on an individual’s loan to net interest earned.
"Since 2006, AFCS has returned $66.45 million to eligible customer-owners to invest back into the rural communities in which they reside," stated Greg Cole, President and CEO of AFCS. “Returning a portion of our net earnings through our patronage program is key to our cooperative values, and we're proud to offer this benefit to our customer-owners. The past few years have been difficult, but our cooperative's ability to maintain such high levels of patronage is a testament to the value it provides to agriculture and the rural communities it serves.” For more information on the Patronage Program, call 1-800-444-FARM to reach a local AFCS branch office.
AgHeritage Farm Credit Services is a financial cooperative with owned and managed assets of approximately $2.21 billion as of December 31, 2022. The company provides credit and related services to more than 6,240 farmers, ranchers, and producers or harvesters of aquatic products in 24 Arkansas counties. Branch offices are located in Batesville, Brinkley, Lonoke, McGehee, Newport, Pine Bluff, Pocahontas, Searcy and Stuttgart.