Patronage FAQs

WHAT ARE THE BENEFITS OF BEING A FARM CREDIT MEMBER?

One of the most important financial benefits of being a Farm Credit member-borrower is having the opportunity to share in the association's profits.

Most businesses return their profits to their owners, not their customers. When you borrow from Farm Credit, you become an owner of the business and are therefore entitled to share in the profits of the association.

At the end of each fiscal year, Farm Credit determines its total income and expenses. Income remaining after all expenses are deducted (the net income) can then be distributed in accordance with the association's bylaws.

The Board of Directors can elect to retain all of the net income to strengthen the association's capital position, or distribute a portion of, or all, of the net income to members by declaring a dividend on stock or declaring a patronage refund.

WHAT IS A PATRONAGE REFUND?
HOW DO PATRONAGE REFUNDS BENEFIT FARM CREDIT BORROWERS?
HOW DO PATRONAGE REFUNDS BENEFIT YOUR FARM CREDIT ASSOCIATION?
WHAT IS ALLOCATED SURPLUS?
HOW IS MY PATRONAGE REFUND ISSUED?
WHY CAN'T I RECEIVE ALL OF THE PATRONAGE REFUND IN CASH AT ONE TIME?
WILL I RECEIVE A TAX NOTIFICATION REGARDING MY PATRONAGE REFUND?
WHAT IS THE BOTTOM LINE ON PATRONAGE REFUNDS?
Did you know?

To date, Farm Credit of Central Florida has returned more than $161 million to their member-borrowers.

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