FCSAmerica is giving $5.3 million back to Iowa farmers

FCSAmerica cash-back
CREDIT FARM CREDIT SERVICES OF AMERICA

Farmers in Clinton, Muscatine and Scott counties are among Iowa Farmers set to receive $5.3 million in cash-back dividends returned by Farm Credit Services of America (FCSAmerica). It’s part of the financial cooperative’s patronage program.

Eligible farmers were issued cash-back dividend checks beginning in late January, according to a news release.

“No other lender can say it has shared its financial success with customers in such a tangible and meaningful way,” Jim Knuth, FCSAmerica senior vice president of business development in Iowa, said in a news release. 

“Cash-back dividends effectively reduce our cost of borrowing. But there also is an exponential impact to putting money into the pockets of farmers and ranchers to invest in their operations, families and rural communities,” he added.              

2024 Cash-Back Distribution

This year’s cash-back dividend is equal to 100 basis points. That’s a return of 1% of a customer’s eligible average daily loan balance with FCSAmerica. Quad Cities county-level distributions (amounts are rounded) included:

  • $1.7 million in Clinton County.
  • $506 million in Muscatine County
  • $1.07 million in Scott County.

Payout data for every county in Iowa is available on the interactive 2024 Cash-Back Dividends Distribution Map.

FCSAmerica’s Board of Directors also approved another cash-back dividend. It’s to be paid from the cooperative’s 2024 net earnings. That amount will be determined in December. Since 2004, FCSAmerica has offered a patronage program and shared its success via cash-back dividends. The cooperative has returned more than $1.3 billion to Iowa farmers, ranchers and agribusinesses.

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