AgWest Rolling Out Patronage Payments
AgWest Farm Credit announced Wednesday it will distribute cash patronage dividends equal to 1.25% of customers’ eligible average daily loan balances in 2022. Eligible customers throughout the West will receive patronage payments totaling $366.5 million.
“Despite economic and weather challenges, our customers continue to be great stewards of their businesses and sound risk managers,” said Nate Riggers, AgWest Board Chair. “Their strong performance allows us to maintain our risk-bearing capacity and provide consistent, reliable cash patronage dividends to our customers.”
On January 1st, Farm Credit West and Northwest Farm Credit Services merged to form a new association, AgWest Farm Credit.
Mark Littlefield, AgWest President and CEO shared, “Our purpose is to champion agriculture, helping our customers, employees and their communities thrive. One of the ways we do this is through our Patronage Program, a unique benefit of our cooperative structure which provides earnings from our association back to our customer-members and their communities.”
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