Returning profits through patronage distribution
BAINBRIDGE, GA—Southwest Georgia Farm Credit, a customer-owned financial institution, announced today that it plans to distribute $5.37 million of its 2019 profits in cash to its member-owners. Since 1991, the Association has returned more than $132 million in patronage distributions.
“Our unique structure as a cooperative allows us to thank our customers for the loyalty they demonstrate to us by returning a portion of our profits,” said Paxton Poitevint, Chief Executive Officer of Southwest Georgia Farm Credit. “We understand that the money we distribute to area farmers and landowners has a lasting impact on the economies of the small towns we all live in. It’s another way agriculture influences our rural way of life.”
This cash distribution means customers get 100% of their share of the Association’s profits in their pockets annually when declared by the board of directors.
“Farm Credit’s mission is to continue to provide competitively priced credit to the rural areas we serve,” Poitevint said. “Considering the ongoing challenges we face in agriculture and rural communities, we’re hopeful this distribution helps farmers, and communities, get through difficult times.”
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.