Farm Credit Announces Patronage Distribution

BAINBRIDGE, GA—Southwest Georgia Farm Credit, a customer-owned financial institution, announced that it plans to distribute a portion of its profits to customers.

Southwest Farm Credit will pay $6.4 million in cash patronage to its customer-owners in the Spring of 2023. The financial services cooperative has returned more than $156 million through its Patronage Program over the last 32 years.   

“The year 2022 underscored the importance agriculture plays in rural communities.  A continuation of worldwide supply chain disruptions, labor shortages, rising interest rates and inflation were part of the uncertainty that pressed our producers and slowed our economies,” said Paxton Poitevint, Chief Executive Officer of Southwest Georgia Farm Credit.  “During such a challenging operating environment, our focus as a cooperative remains, more than ever, on maintaining and improving the quality of life in rural America and on the farm, through our constant commitment to competitive lending and expert financial services.  Like farmers, it’s built into our character to fulfill our mission.”

The Association’s 2022 patronage distribution effectively lowers a borrower’s interest rate and the cost to conduct business.  Along with a competitive presence in the marketplace, Southwest Georgia Farm Credit continues to pursue innovative ways to generate a meaningful return on investment and deliver an exceptional customer experience to its member-owners. 

“Receiving a Cash Patronage Dividend check demonstrates that the borrowers of Southwest Georgia Credit are part-owners of a business that’s working for them,” said Poitevint. “This unique structure sets us apart from other lenders.  We understand that extra capital can make a big difference in a farmer’s operation and has a lasting impact on the economies that support the Ag industry. When we succeed, we succeed together.”

Patronage distributions are made when the Board of Directors of Southwest Georgia Farm Credit deem that the Association’s financial performance is such that a distribution is warranted.

Headquartered in Bainbridge, Georgia, Southwest Georgia Farm Credit supports farmers and farm businesses, as well as rural property owners, providing safe, sound, dependable financing. The association is part of the Farm Credit System, a nationwide network of agricultural and rural lending institutions cooperatively owned by their borrowers. Farm Credit helps maintain and improve the quality of life in rural America and on the farm, through its constant commitment to competitive lending and expert financial services.