SWGA 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.
In the last 21 years, Southwest Georgia Farm Credit has returned more than $101 million in patronage distributions. This year, the Association plans to return $7.7 million of its 2021 profits in cash to its member-owners.
“Our unique, cooperative structure allows us to put our customers first and thank them 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. “Our teams work hard every day to deliver extraordinary value to our customers and to fulfill our mission to serve the rural communities we all care so much about.”
The Association’s 2021 patronage distribution effectively lowers a borrower’s interest rate, on average, by a percentage point. Along with a competitive presence in the marketplace, Southwest Georgia Farm Credit consistently leverages its financial strength and agricultural expertise to enhance the customer experience and deliver personalized attention and care.
“Southwest Georgia Farm Credit is committed to maintaining a financially strong dividend program that combines in-depth expertise and a century of commitment to the industries, families, and communities we serve,” said Poitevint. “Our mission and forward momentum is built upon fostering relationships and our steadfast commitment is to fulfill the evolving needs of our customer-owners. People are the foundation of our business. We are all in this together, and together, we will grow.“
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.