Farm Credit SEMO Board of Directors Celebrates 30 Years of Patronage - Authorizes $8.75 Million Patronage Refund for 2023
Farm Credit Southeast Missouri President & CEO Greg Cunningham is pleased to announce that the Board of Directors has declared a 2023 cash patronage refund of $8,750,000 to the borrowing members – the largest in the program’s history.
The 2023 refund marks the 30th consecutive year of Farm Credit Southeast Missouri’s patronage dividend program. Since the program began in 1994, over $120 million in cash has been paid back to the customer-owners in Southeast Missouri.
Cunningham stated, “As a result of record net income, strong capital position, and the overall financial strength of the Association, the Board of Directors approved a new record high patronage distribution of $8.75 million. Over the last 30 years, your Farm Credit Association has paid out over $120 million in Cash Patronage. I’m proud that the Board of Directors continues the tradition of returning profits to you, the customer-owner, by “Putting our Profits in Your Pockets”.”
Additionally, the Farm Credit Southeast Missouri Board of Directors has approved its 31st consecutive patronage refund program for 2024.
Headquartered in Sikeston, Missouri, Farm Credit Southeast Missouri is an agricultural lending cooperative with over $1 billion in owned and managed assets serving Bollinger, Butler, Carter, Cape Girardeau, Dunklin, Mississippi, New Madrid, Pemiscot, Ripley, Scott, Stoddard, and Wayne Counties in Southeast Missouri.
