Golden State Farm Credit Issued a Record Patronage Payout for 2019
Chico, CA (April 15, 2020) – Golden State Farm Credit issued $15.7 Million, in patronage dividends, for 2019. This is another record year for the Association and its member-owners.
Golden State Farm Credit, a lending cooperative, continues to support ranchers, farmers, and agribusiness owners by giving back $15.7 Million in patronage dividends. This is an increase of $3.0 million over the 2018 record 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 borrowing costs for the year. Patronage dividends are distributed to members twice a year, differing from the industry standard of once a year distribution.
“Everyone here at the Association, and the Board of Directors, contributed towards reaching this accomplishment; it’s the strength and hard work of our customers that made it happen,” states Robert Faris Jr, President and CEO of Golden State Farm Credit.
Golden State Farm Credit has paid a total of $73.2 Million in patronage over the past six years.
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 and commercial loans, competitive interest rates, equipment leasing, and appraisal services. To learn more about Golden State Farm Credit go to www.goldenstatefarmcredit.com or call 800.834.8698.