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FCS Financial’s Board of Directors announced that they will return more than $5.1 million to their member-owners in cash patronage for the 2011 calendar year.

"As a cooperative, FCS Financial is able to share our earnings with our customers and we have returned more than $20.7 million in cash patronage since 2006," FCS Financial CEO Daryl Oldvader said.

After the financial results are known at the end of each year, the board reviews the cooperative’s financial situation and the business plan projections to determine if patronage will be paid or if earnings will be retained for capital.

“In 2011, the agriculture industry continued to fare quite well even though the forces presented by Mother Nature were not favorable for many Missouri farmers. As result, farm debt remained relatively stagnant," Oldvader said. "Despite the decreased debt activity, FCS Financial closed the year with a 4.6 percent increase in loan volume. This growth and financial strength of the association guided the board’s decision to pay patronage,” Oldvader said.

To kick off the distribution of patronage checks to customers, each FCS Financial office will host a Customer Appreciation Day from 10 a.m. to 6 p.m. on March 8 in conjunction with National Ag Day. Attendance is not required for FCS Financial members to receive their check. Those checks not distributed by the end of business on March 23 will be mailed.

Patronage payments are based on a member’s loan business activity with the association. All eligible members will receive a minimum of $20. Each eligible member’s patronage check will be available March 8 through March 23 at the FCS Financial office where their loan is serviced.

For more information, visit our Patronage Program or contact your local FCS Financial office at1-800-444-3276.

 
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