SPECIAL MID-YEAR PATRONAGE CASH DISTRIBUTION!
The Board of Directors has announced a special, mid-year patronage distribution for members when they may need it most because unprecedented times call for unprecedented actions.
Checks will mail directly to members on June 26. This brings the total Patronage Cash shared by members to more than $134 MILLION since 1997.
*Members are receiving a portion of their current-year Patronage Cash early. Patronage checks are being issued in June based on association profits to-date in 2020. June-December profits will be shared via an anticipated patronage distribution in early 2021. Members qualifying for less than $100 in patronage at mid-year will receive their share in February 2021.
$10.3 MILLION in Patronage Cash was put back in members' hands in February 2020.
As owners, our Farm Credit of Western Arkansas members share in the association's profits when we have a good year. It's that easy!
Annually, our directors can choose to give eligible member-owners CASH BACK (we call this Patronage Cash). The amount members receive is based on the total interest they paid on their loan(s) and the profit the association made the previous year.
Distributed by check (normally in late February), our members tell us they LOVE their Patronage Cash. Customers tell us they've used it to pay down their loan, purchase vehicles and equipment....even buy new furniture and take family vacations!
In February 2020, our 6,358 Western Arkansas members shared $10.3 MILLION in profits earned in 2019! This year's patronage sets a record for our Association and puts the total that's gone back into members' pockets at more than $129.67 MILLION since 1997. Sharing Association profits with members when we have a good year sets Farm Credit apart from other lenders.