Golden State Farm Credit Gives Back $5.5 Million in Patronage Dividends
Chico, CA (August 29, 2017) – Golden State Farm Credit announces the release of $5.5 Million, in Patronage Dividends, to participating borrower-members.
Golden State Farm Credit, a lending cooperative, is committed to supporting ranchers, farmers, and agribusiness owners by giving back $5.5 Million in Patronage Dividends. The Patronage Dividends program returns a percentage of the organization’s net earnings back to participating borrowers, which in turn helps them lower the cost to conduct business. Patronage dividends are distributed to members twice a year, as opposed to the industry standard of once a year payouts.
“As a cooperative, our goal is to return a significant portion of our earnings to our member-customers through our patronage program, effectively lowering their cost of borrowing,” states J. Fletcher Monroe, President and CEO of Golden State farm Credit.
Golden State Farm Credit delivered $5.1 million to their members in March of 2017, for a total of $10.6 Million distributed in 2017 alone. The Patronage Dividends, given back to participating members over the course of four years totals $45.1 Million.
Golden State Farm Credit is a premier employer and borrower-owned cooperative, dedicated to providing reliable credit and financial services to rural agricultural communities located in Northern and Central California. Golden State Farm Credit is focused on helping agriculturalist reach their goals with mortgage & commercial loans, competitive interest rates, equipment leasing, appraisal services, and a special lending program for Tomorrow's Farmers. Find out more about Golden State Farm Credit at www.goldenstatefarmcredit.com or call 800.834.8698.