Compeer Financial and its board of directors are pleased to be returning more than $52 million in patronage payments to member-owners this February. In total, more than 31,000 member-owners will receive nearly $150 million in patronage returns this year.
Of the $52 million returned, $11.3 million will be paid out to 9,129 member-owners in the 49 Wisconsin counties Compeer Financial serves.
This February payment reflects equities allocated to member-owners for business they conducted with 1st Farm Credit Services, AgStar Financial or Badgerland Financial before the organizations joined to form Compeer Financial in July 2017. The organization will issue a second patronage payment, totaling more than $99 million, later this year for business member-owners had with Compeer Financial in 2018.
“As a cooperative, returning a portion of our earnings is an important component of our business model,” said Rod Hebrink, President and CEO of Compeer Financial. “The Compeer Financial Board of Directors is committed to a strong patronage program that creates value for all member-owners and honors the objectives of the patronage programs offered by prior organizations.”
In 2019, Compeer Financial will return approximately 38 percent of 2018 earnings to member-owners. This is an increase of $45 million more in patronage payments than 2018. Patronage dividends are based on the amount of products and services purchased by member-owners.
About Compeer Financial
Compeer Financial is a member-owned Farm Credit cooperative serving and supporting agriculture and rural communities. The $20.3 billion organization provides loans, leases, risk management and other financial services throughout 144 counties in Illinois, Minnesota and Wisconsin. Based in the Upper Midwest, Compeer Financial exists to champion the hopes and dreams of rural America, while providing personalized service and expertise to clients and the agriculture industry.
Compeer Financial is the third largest cooperative of the Farm Credit System, a nationwide network of lending institutions supporting agriculture and rural communities with reliable, consistent credit and financial services. Learn more about Compeer Financial’s patronage program.