Farmer-owned coop pays patronage for 19th year in a row
by MBJ Staff
Published: March 26,2014
RIDGELAND — First South Farm Credit member-borrowers will receive approximately $13 million in patronage refund checks in April.
Patronage, which is a form of dividend payment, is based on the association’s year-end earnings.
Shep Morris, chairman of the First South board of directors, said, “This is the 19th consecutive year we’ve paid a patronage refund. Over that period of time First South has declared patronage totaling over $254 million to be paid to its member-borrowers through patronage refunds and retirements of allocated surplus.”
First South Farm Credit is a farmer-owned cooperative providing short, intermediate and long-term financing and related services to full and part-time farmers, agricultural-related businesses and rural residents in Louisiana, Mississippi and Alabama. First South serves 5,000 members with loans outstanding totaling over $1.4 billion through its network of over 40 branch offices in its three state territory.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- DeSoto County Supervisor Lee dies in ATV accident on his birthday
- Molpus closes Fund after more than $662M in commitments
- Kemper County plant will cost at least another $496M to complete
- Cochran calls on EPA for review of Yazoo Backwater Project
- State Sen. Gandy hospitalized in South America
- Number of requests for general election absentee ballots roughly same as primary
- Camgian launches Internet of Things product called Egburt
- After string of losses, O'Hara sees himself as Senate 'protest vote'
- Former Mississippi First Lady Carroll Waller dies at 87