|January 25, 2013 – United FCS continues sharing its financial success with its member-owners in the form of 100% cash patronage – announcing that it will be distributing $5.2 million in cash patronage in late February. This patronage distribution (a return of a portion of the Association’s net earnings to eligible customers) raises the combined total patronage paid to over $60 million since 2002. United FCS posted record net earnings in 2012 due in part to continued growth in both loan volume and membership. As a result of exceptional Association performance in 2012, the patronage distribution for 2012 (payable February 26, 2013) was set at $5.2 million.
“Having the ability to return a portion of our cooperative’s earnings to our member-owners on a sustained basis is important to our Board of Directors and a core co-op principle,” said Board Chair Brad Sunderland. “It is a great feeling to announce our eleventh consecutive cash patronage distribution and we are thankful for the continued support of our membership and the Association’s staff for their achievements in 2012.”
“As a farmer-owned cooperative devoted to shareholder success, United FCS is always focused on creating shareholder value beyond simply offering competitively priced products and services,” said CEO Marc Knisely. “A key component of that shareholder value proposition is our ability to return excess capital each year in the form of patronage paid 100% in cash.”
United FCS is a member-owned financial services Association. As a cooperative devoted to the success of our members, United FCS provides loans and leases along with a wide array of financial services specifically designed to the needs of agriculture and rural America. As a locally owned and governed Association, United FCS services over 5,500 customer members and manages over $1.5 billion in loan and lease assets. With an exceptional staff of nearly 200 professionals, based out of 12 conveniently located branch office locations, we support a choice of on-farm, on-line and in-office access across a 22 county local service area in West Central Minnesota and North Central Wisconsin.
United FCS is affiliated with the Farm Credit System, a nationwide network of borrower-owned lending institutions.