First South Farm Credit announced Tuesday that it will distribute $21 million in patronage refund checks to its member/borrowers in April.
A patronage refund is a payment from a cooperative to a member/borrower based on its earnings and financial performance in proportion to the borrower’s use.
“This is the 28th consecutive year for First South to continue the commitment of sharing in our success with our member/borrowers,” stated Trey Martin, chairman of the First South Farm Credit Board of Directors. “Over this period of time, First South has distributed patronage refunds, totaling over $460 million, to our member/borrowers.”
First South Farm Credit is a member-owned cooperative providing short-, intermediate- and long-term financing and related services to full- and part-time farmers, agricultural-related businesses and rural landowners in Alabama, Louisiana and Mississippi.
