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More than 8,100 local farm families receive
their share of a $35 million cash patronage distribution this
week from their Farm Credit Illinois (FCI) lending cooperative.
“Patronage tangibly honors our member-borrowers,” says Kelly
Hunt, FCI CEO. “Giving patronage back to our farmer and rural
landowner members is a prime example of the value cooperative
membership provides and demonstrates FCI’s mission of Helping
Farm Families Succeed.”
This is FCI’s seventh consecutive annual patronage distribution,
totaling $241 million declared since 2018. FCI’s Board of
Directors declared a $35 million distribution after reviewing
2024 financial information, anticipating the business climate
for the coming year, capitalizing strong marketplace growth, and
retaining adequate capital to meet regulatory requirements and
weather potential farm economy volatility.
Patronage is distributed proportionally to member-borrowers
based on the net interest margin contribution of each loan and
returns a portion of the interest accrued during the previous
year. The Board prioritizes delivering competitive upfront
interest rates and managing the cooperative’s capital prudently
while still having an annual patronage distribution.
About Farm Credit Illinois
Farm Credit Illinois (FCI) is an agricultural financial
cooperative owned by more than 17,100 farmer, rural landowner,
and agribusiness voting stockholders in the southern 60 counties
of Illinois. Dedicated to Helping Farm Families Succeed, FCI
provides competitive and flexible financing, crop insurance
expertise, and Rural 1st® country life lending. FCI manages an
$8 billion loan portfolio, sells 1.5 million acres of crop
insurance coverage, and employs approximately 300 staff in the
Mahomet headquarters and 14 regional offices. The Association is
returning $35 million of 2024 earnings as cash patronage to
member-borrowers in June. The U.S. Farm Credit System is a
network of locally owned cooperatives supporting rural
communities, farm families, and agriculture with reliable,
consistent credit and financial services today and tomorrow.
[Rachel Hartman
Communication & Content Specialist
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