Southern AgCredit sets new record
FLOWOOD — Southern AgCredit is making a record patronage payment to its customer-owners based on its 2009 financial performance.
Southern AgCredit customers will soon receive a check for their portion of the co-op’s $2.5-million cash patronage, plus a statement detailing their portion of a $4.7-million allocation that is eligible for future cash distribution. The combined $7.2-million patronage is a record for Southern AgCredit.
Joe Hayman, Southern AgCredit CEO, said, “It is always a pleasure to distribute a patronage to our customers, but it is even more significant that we can give back a record level of patronage at a challenging time when there’s a lot of financial uncertainty.”
Southern AgCredit finances all aspects of agriculture and rural property, including loans to agribusinesses. The co-op has $619 million in total assets and provides rural financing in 50 counties in the lower half of Mississippi. It is part of the nationwide Farm Credit System.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- DAVID DALLAS — Cannabis for the rest of us
- MARTY WISEMAN: The current racial strife and the failure to educate
- Source: Bryant has offered Glenn McCullough MDA job
- BILL CRAWFORD: Boyce takes hot spot as IHL commissioner
- Planters Bank promotes at 3 locations
- COMMERCIAL FINANCE 701: Loans disguised as government bonds (BOANs)
- (WITH VIDEO) Funding secured for Capitol Art Lofts in downtown Jackson
- Real Estate Forum panelists: Lenders, investors hungry for deals on residential rentals in Miss., elsewhere
- Two new casinos like the odds on Mississippi Gulf Coast