FCSAmerica returns $4.619 million in dividends
Farm Credit Services of America (FCSAmerica) announced that eligible customer-owners in Chase and other area counties in Nebraska served by the FCSAmerica Imperial, McCook and North
Platte offices are receiving checks totaling $4.619 million this month.
These checks represent the areas’ share of the cooperative’s $145 million cash-back dividend.
“Customers can spend or invest their cash-back dividends as they wish,” said Mitchell Korf, Vice President, “But past results suggest a significant percentage will be spent in the communities where they live.
“We had a very good year in 2013 and we’re very pleased that our customer-owners will receive a significant portion of our net earnings,” said Korf. “The 2013 cash-back dividend is the largest in our history and is possible because of our financial cooperative’s continued financial strength.”
The $145 million cash-back dividend for 2013 is the 10th in FCSAmerica’s history and brings the total cash distributions since 2004 to $830 million. During this same 10-year period, FCSAmerica’s capital (members’ equity) has grown from $1.5 billion to $3.6 billion and net income has grown from $294 million to $515 million.
Each eligible customer’s cash-back dividend is based on the average loan volume during the calendar year. The more eligible loan business a customer has with the cooperative, the more they benefit financially through cash-back dividends.
The FCSAmerica board approved a patronage program for 2014, with the total cash-back dividend to be decided in December 2014.
For more information on the 2013 cash-back dividend, including county-by-county distributions, visit powerofownership.com.