BUCYRUS, OH (CRAWFORD COUNTY NOW)—AgCredit, a farmer-owned cooperative serving 18 counties in Northwestern Ohio, has announced the distribution of $22.6 million in patronage dividends to its members. The payout marks the 39th consecutive year the organization has returned a portion of its net earnings to its member-borrowers.
Ashley Lutz of AgCredit highlighted the cooperative’s commitment to the regional agricultural community during a recent update at the Bucyrus office. The patronage funds, which were celebrated with local open houses last week, are distributed to members via hard-copy checks or direct ACH deposits.
“We like giving money back to our members,” Lutz said, noting that the cooperative structure allows the organization and its members to support each other’s financial health.
Beyond the annual patronage program, AgCredit is emphasizing its “AgLink” loan program. Facilitated through the State of Ohio, the program provides reduced, fixed interest rates on operating notes for 12-month periods. Lutz noted that these savings are applied in addition to the annual patronage dividends, providing a multi-layered financial benefit for local producers during challenging economic times.
The cooperative continues to focus on its “Young, Beginning, and Small Farmer” program, which assists the next generation of agriculturalists with equipment and real estate financing, as well as family farm transitions.
AgCredit is part of the national Farm Credit System. For more information on loan products or the patronage program, residents can visit agcredit.net.