FCS Financial’s Board of Directors announced that they will return more than $5 million to their member-owners in cash patronage for the 2010 calendar year.
“FCS Financial is a farm lending cooperative and that means we share our profits with our members,” FCS Financial CEO Daryl Oldvader said. “Since 2006, we’ve returned more than $15.6 million to them.”
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 2010, FCS Financial saw growth and financial strength which guided the board’s decision to pay patronage,” Oldvader said. “The organization’s successful performance can be identified in three key areas: marketplace results, financial performance and the credit environment.”
To kick off the distribution of patronage checks, each branch office will host a Customer Appreciation Day from 10 a.m. to 6 p.m. on March 15 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 25 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 15 through March 25 at the FCS Financial office where their loan is serviced.
For more information, contact your local FCS Financial office at1-800-444-3276 or visit www.myfcsfinancial.com where you will find a link to the 2010 Patronage Program under About Us.
“FCS Financial is a farm lending cooperative and that means we share our profits with our members,” FCS Financial CEO Daryl Oldvader said. “Since 2006, we’ve returned more than $15.6 million to them.”
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 2010, FCS Financial saw growth and financial strength which guided the board’s decision to pay patronage,” Oldvader said. “The organization’s successful performance can be identified in three key areas: marketplace results, financial performance and the credit environment.”
To kick off the distribution of patronage checks, each branch office will host a Customer Appreciation Day from 10 a.m. to 6 p.m. on March 15 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 25 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 15 through March 25 at the FCS Financial office where their loan is serviced.
For more information, contact your local FCS Financial office at1-800-444-3276 or visit www.myfcsfinancial.com where you will find a link to the 2010 Patronage Program under About Us.
Don’t Miss any updates or news
Get Updates
