Jonesboro, AR (JonesboroRightNow.com) – February 9, 2024 – Farm Credit of Western Arkansas is making headlines once again as it proudly announces its distribution of a record-breaking $11.7 million in Patronage Cash to its members across 41 counties in western Arkansas. This significant milestone marks the 27th consecutive year of sharing patronage with members, with a total distribution exceeding an impressive $174.2 million since 1997.
As a financial cooperative, Farm Credit of Western Arkansas places a strong emphasis on prioritizing its members as owners, ensuring they reap the rewards of the organization’s success. Brandon Haberer, CEO of Farm Credit of Western Arkansas, highlighted the importance of this achievement, emphasizing that “sharing profits with members is the cooperative way of doing business and sets us apart from other lenders.”
The patronage program not only demonstrates Farm Credit of Western Arkansas’s commitment to supporting the agricultural community but also plays a crucial role in fostering economic growth in rural areas. By reinvesting profits back into the hands of its members, the organization actively contributes to the vitality and sustainability of local farming operations.
With a loan volume of $1.9 billion, Farm Credit of Western Arkansas is an integral part of the 107-year-old Farm Credit System, providing essential financing and related services to farmers, ranchers, rural homeowners, agribusinesses, and timber producers. This distribution of Patronage Cash not only signifies the financial strength of the cooperative but also serves as a testament to its unwavering dedication to serving its members and supporting rural communities.
In a time where rural economies face numerous challenges, Farm Credit of Western Arkansas’s commitment to its members and their communities shines brightly. This record-breaking distribution of Patronage Cash underscores the cooperative’s ongoing mission to empower its members and drive economic prosperity in the region.