Farm Credit Mid-America is doing their part to help out American farmers, as they are set to return $280 million in net earnings to eligible customer-owners this March.
According to a news release, roughly $34 million of that amount will be returning to Kentucky farmers directly, and of that, approximately $4.7 million will be going to farmers served by the Hopkinsville office, which includes folks in Christian, Lyon, Trigg and Caldwell counties.
Customers commonly use those patronage payments to pay down operating or term debt, offset spring input and planting costs, reinvest in equipment, land or farm improvements and strengthen working capital and financial resilience.
Farm Credit Mid-America is a farmer-owned cooperative, meaning customers are also owners. Through patronage, a portion of the cooperative’s earnings is returned to eligible customer-owners based on the level of eligible business they conduct with the Association.
This year’s distribution brings the total amount of net earnings returned to customers over the past 10 years to more than $1.75 billion.