Farm Credit of Central Florida declares $3.2 million cash patronage distribution for 2015
Farm Credit of Central Florida’s Board of Directors recently declared $3.2 million in patronage dividends to qualified borrowers of the Lakeland based agricultural cooperative.
Farm Credit of Central Florida Chairman of the Board, David J. Stanford, said, “ The exemplary performance of our Member/Borrowers and our strict adherence to cooperative principals allows us to deliver credit at the lowest possible rate and let our Members share in the profits.”
“Returning profits to our borrowers reduces their effective cost of borrowing,” Farm Credit of Central Florida President and CEO Reginald Holt, said. “There are significant benefits to doing business with Farm Credit and profit-sharing through patronage refunds provides tangible proof.”
Since 1988, Farm Credit of Central Florida’s board of directors has declared patronage refunds exceeding $148 million. Stretched end to end, $148 million would reach from Lakeland, Florida to Honolulu, Hawaii three times!
Farm Credit of Central Florida is a member-owned cooperative serving 13 Central Florida counties, including, Polk, Hillsborough, Pinellas, Citrus, Hernando, Pasco, Sumter, Lake, Seminole, Orange, Osceola, Volusia and Brevard. Part of the nationwide Farm Credit System established in 1916, Farm Credit of Central Florida provides loans, leases and crop insurance to over 1,000 farmers, ranchers, growers and rural homeowners.
For immediate release. For more information, contact Ron O’Connor at (863) 682-4117.