ArborOne Farm Credit Pays $5.4 million in Patronage Refunds
ArborOne Farm Credit’s Board and Management are pleased to announce that the Association finished 2019 with strong capital. As a result, the Board of Directors approved the rollout of a spring patronage distribution, returning over $5.4 million to its customer-owners this March. With the distribution, ArborOne returned 20 cents of every dollar of interest accrued in 2019 back to its customers all in cash.
ArborOne Farm Credit’s unique cooperative structure allows the ability to return some of its profits to its borrowers. Since 1989, ArborOne Farm Credit has paid more than $114 million in cash patronage refunds, which represent a portion of ArborOne’s net earnings, to eligible customer-owners. ArborOne Farm Credit is proud to be able to share its success with its member/borrowers!
As we once again face challenging times, this patronage distribution is another example of ArborOne Farm Credit standing by our promise to support our customers through the good times and the bad. It pays to do business with ArborOne Farm Credit!
ArborOne is a member of the National Farm Credit System and serves the following counties: Chesterfield, Clarendon, Darlington, Dillon, Florence, Georgetown, Horry, Lee, Marion, Marlboro, Sumter and Williamsburg.
Since 1916, Farm Credit has provided a reliable and consistent source of credit for farm families and rural communities. ArborOne finances farm operations, equipment, land, and also makes rural home loans. The cooperative also offers crop insurance to its customers.