Posts Tagged ‘cooperative’

Farmer-owned coop pays patronage for 19th year in a row

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. […] [...]

Southern AgCredit sets another patronage payment record

RIDGELAND — Southern AgCredit, a rural lending cooperative, recently returned a record level of net earnings to its customer-owners in Mississippi and Louisiana. This marks the 18th consecutive year of the co-op’s patronage program. Southern AgCredit customers received a check for their portion of the $7.2 million cash patronage, plus a statement detailing their share […] [...]

Wholesale bank reports record earnings — again

AUSTIN, Texas — Farm Credit Bank of Texas (FCBT), a cooperatively owned wholesale bank that provides funding for rural retail lenders, has released preliminary unaudited financial highlights and results for the year ended Dec. 31, 2013, reporting record earnings for the eighth consecutive year. The Austin-based bank reported $179.8 million in net income in 2013, a 3.0 […] [...]

Bank cooperative sees record earnings — again

AUSTIN, Texas — Farm Credit Bank of Texas (FCBT), a cooperatively owned wholesale bank that provides funding for rural retail lenders, has released preliminary unaudited financial highlights and results for the year ended Dec. 31, 2013, reporting record earnings for the eighth consecutive year. The Austin-based bank reported $179.8 million in net income in 2013, a 3.0 […] [...]

CHS issues $433M in cash distributions to members

by MBJ Staff Published: February 13,2014

Tags: agriculture, cash distribution, CHS Inc., cooperative, farm, farmer, farming, net income, patronage, rancher

ACROSS MISSISSIPPI — Farmers, ranchers and cooperatives across the United States will share in an estimated $433 million cash distribution from CHS Inc., a St. Paul, Minn.-based energy, grains and foods company and agricultural co-op. The distribution is the second largest in CHS history. The 2014 cash return to owners is based on CHS net […] [...]

SMEPA goes with regional transmission organization

HATTIESBURG — MISO, the regional electricity transmission organization, has expanded to include eight additional entities in three of its four Southern states. Combined with operations for MISO’s Midwest region, MISO now manages the flow of energy along 65,280 miles of the interconnected bulk electric system fromManitoba, Canada to the Gulf of Mexico. In addition to providing reliability […] [...]

USDA awards loans, grants to three power associations

AROUND MISSISSIPPI — Loans and grant funds will be provided to applicants in 11 states to support businesses, improve the quality of medical care, and create or save hundreds of jobs through the U.S. Department of Agriculture’s Rural Economic Development Loan and Grant program. Three electric power associations in Mississippi are receiving loans and/or grants. […] [...]

Bank cooperative sees huge jump in net income

AUSTIN, Texas — Farm Credit Bank of Texas (FCBT) reports net income for the quarter ended March 31, 2013, totaled $53.8 million, a 57 percent increase from the same period of 2012. The increase was due largely to a $6.4 million increase in noninterest income, combined with a $13.7 million decrease in provision for loan […] [...]

TVA names DayBrite Innovator of the Year

TUPELO — The Tennessee Valley Authority has honored regional businesses, local power distributors and other local leaders for exceptional leadership and participation in TVA’s Green Power Switch renewable energy program in 2012. Green Power Switch Leadership Awards were presented in 13 categories in a special ceremony in Gatlinburg, Tenn. Launched in 2000, Green Power Switch […] [...]

Cooperative raising rates due to Kemper plant costs

by Associated Press Published: April 18,2013

Tags: coal, construction, cooperative, electricity, energy, plant, power, rate, utility

MERIDIAN — East Mississippi Electric Power Association is raising rates for some customers because of higher wholesale power rates charged by Mississippi Power Co. to cover the costs of its Kemper County power plant. The Meridian-based electric cooperative says customers in Lauderdale, Clarke, Newton, Wayne and Jasper counties will see power rates rise by 9.3 […] [...]

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