AgCredit to return $41 million in patronage funds

FOSTORIA — Rural lending cooperative AgCredit will return $41 million in patronage funds to some customer-owners, a payout the cooperative says will lower rates by 45% on eligible loans. AgCredit has now distributed $339 million to customers over 33 years.

“Many producers faced significant economic difficulties and stress in 2019, including challenging weather conditions, prolonged low prices and other hardships beyond their control,” AgCredit CEO Brian Ricker said in a press release. “For this reason, we’re pleased to return such a high portion of what we earned to our customer-owners.”

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