Board of Directors Authorizes $4.0 Million Patronage Refund for 2012


2012 Patronage

 

Sikeston, MO - (December 31, 2012) - The Board of Directors of Progressive Farm Credit Services, an agricultural lending co-op with over 1800 members in Southeast Missouri, has approved a 2012 cash patronage refund of $4.0 million - the largest in Progressive FCS's history. The cash patronage refund will be paid on January 28, 2013 and will be included on the 2013 1099-PATR that will be distributed in January 2014.

Progressive FCS has paid a patronage to its customers every year since 1994 and will bring the total paid to more than $45 million.

Ron Milbach, President and CEO of Progressive FCS said, "2012 turned out to be an exceptional year for Progressive FCS. Our average loan balance grew by 5% with a year end "point-in-time" growth of 13%. Even with this growth and need for capital, the Association was able to pay a patronage of $4 million which is the highest dollar amount we have ever refunded to our customers."

In addition, the Progressive FCS Board of Directors has approved a patronage refund program for 2013 and will determine the refund amount in December 2013.

Progressive FCS is not like other lenders... Our customers are not just borrowers and customers; they are stockholders and owners of the Association sharing in our profits. No other lender can say they share profits with their customers.

Progressive Farm Credit Services is now...

New Name. Fresh Look. Same Great Service.

www.FarmCreditSEMO.com

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