April has been a great and busy month for us here at Carolina Farm Credit celebrating our customers and our 100th anniversary with our Customer Appreciation Events.
Our events this year are very special for two reasons.
1. We, along with the Farm Credit System, are celebrating our 100th anniversary of supporting agriculture in the United States! It is amazing how much the world and agriculture has changed, but we are still just as committed today as we were in 1916 to provide financing and support to farmers and our communities.
2. Those getting a Patronage check have been very pleasantly surprised to see that the spring patronge checks are larger than in previous years! This is because Carolina Farm Credit has transitioned to an all cash dividend program thanks to our Board of Directors. This means that the portion of the patronage distribution paid in cash has increased from 30% to 100%.
Now, instead of having some of your patronage held and paid out after six years, our customers will now receive their entire patronage dividend in the spring. We are able to do this because of the successful year we had in 2015. This is a decision that was voted on by our Board of Directors.
But, what does this mean for those who still have allocated surplus? Have no fear! If you have a loan from 2014 and before, we still plan to pay out your allocated surplus in the fall for the next six years as we have in the past.
Still have questions? Check out our scribe video that explains what our new cash dividend program means for you!
To read more about Carolina Farm Credit, our members and the ag industry, check out issues of our Leader magazine—you can read them online.
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