Cooperative has returned more than $60 million to farmers, ranchers in past 12 years
OMAHA, NEBRASKA - (December 16, 2015) - Frontier Farm Credit, a customer-owned financial cooperative, has approved a record cash-back dividend of $7.5 million for 2015 for eligible customer-owners.
This is the 12th consecutive year that Frontier Farm Credit has returned a share of its profits to eligible customer-owners. Since 2004, Frontier Farm Credit has returned a total of $60.2 million to farmers, ranchers, agribusinesses and rural residents in its territory of eastern Kansas. Cash-back dividend checks for 2015 will be mailed to eligible customer-owners in March 2016.
The Frontier Farm Credit Board of Directors also approved a 2016 patronage program, demonstrating its commitment to a cooperative business model that ensures farmers and ranchers share in the association's financial strength.
Each year, farmers and ranchers use their cash-back dividends from Frontier Farm Credit to invest in their operations and families and support their rural communities. The portion of earnings that are retained by Frontier Farm Credit are used to build the cooperative's financial capacity to continue serving agriculture.
"Our customer-owners share in the success of the organization with very tangible value returned to them in the form of cash-back dividends," said Doug Stark, CEO and president of Frontier Farm Credit.
About Frontier Farm Credit
Frontier Farm Credit is a customer-owned financial cooperative proud to finance the growth of rural America, including the special needs of young and beginning producers. With $1.88 billion in assets and $357 million in members' equity, Frontier Farm Credit provides credit and insurance services to farmers, ranchers, agribusiness and rural residents in eastern Kansas. Learn more at www.frontierfarmcredit.com.
For media and communications inquiries, please contact Judith Nygren, Corporate Communications & Public Relations Specialist, at 402.348.3346.