$40 Million Patronage Paid To FCI Members

Nearly 8,000 Farm Credit Illinois (FCI) borrowers receive their share of a $40 million cash patronage distribution this week. In true cooperative spirit, patronage is distributed proportionally based on the net interest margin contribution of each loan. Checks are delivered the week of June 10.

This is FCI’s sixth annual patronage distribution, totaling $206 million declared since 2019. In December, FCI’s Board of Directors declared a $40 million distribution after reviewing 2023 year-end financials and projecting capital and business needs for the coming year.

Cash patronage returns a portion of the interest accrued during the previous year. The $40 million cash patronage distribution lowers effective interest rates across the entire loan portfolio on average by 1%.

“Patronage is a tangible tribute to the diligent work and disciplined management our member-borrowers practice – especially during times of volatility and unpredictable economic challenges,” says Aaron Johnson, FCI President and CEO. “This week celebrates the value of cooperative membership and demonstrates FCI’s mission of Helping Farm Families Succeed.”