ArborOne Farm Credit Pays $6.1 million in Patronage Refunds
ArborOne Farm Credit’s Board and Management are pleased to announce that the Association finished 2018 with strong capital. As a result, the Board of Directors approved the rollout of a spring patronage distribution, returning over $6.1 million to its customer-owners this April. With the distribution, ArborOne returned 26 cents of every dollar of interest accrued in 2018 back to its customers. This marked the first patronage payment under the new all cash model.
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 $107 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!
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.