Cooperative has returned $69 million to farmers, ranchers in past 13 years
OMAHA, NEBRASKA - (December 15, 2016) - Frontier Farm Credit, a customer-owned financial cooperative, has approved a record cash-back dividend of $9 million for 2016 for eligible customer-owners.
This is the 13th 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 $69.2 million to farmers, ranchers, agribusinesses and rural residents in its territory of eastern Kansas. The 2016 cash-back dividend checks will be mailed to eligible customer-owners in March 2017.
The Frontier Farm Credit Board of Directors also approved a 2017 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.
"In a challenging agricultural economy like today, it is more important than ever that farmers and ranchers have a lender they can depend on," said Doug Stark, CEO and president of Frontier Farm Credit. "The 2016 cash-back dividend is a testament to our cooperative's financial strength and commitment to sharing a portion of our annual profits with our customer-owners."
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 nearly $2 billion in assets and $382 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.