FCSAmerica Board approves $52 million cash patronage for 2007

The Farm Credit Services of America (FCSAmerica) Board of Directors has approved a $52 million cash patronage payment to eligible loan customers. The $52 million payment brings the total cash distribution over four years to more than $200 million.

"Cash patronage is one of the direct benefits of doing business with Farm Credit Services of America," said Larry Paulsen, Board Chairman. "Patronage sets us apart from other lenders, we share FCSAmerica earnings with eligible customers, many of whom will spend the money in their local community."

The 2007 patronage payment is based on the amount of net interest income and related fees earned on each eligible customer's loan during 2007. Payments are expected to be mailed to customers in March 2008.

The Farm Credit Services of America board intends to pay cash patronage to eligible customers annually. The FCSAmerica board also approved a patronage program for 2008, the fifth consecutive year a patronage program has been in place. The 2008 program will again be based on each eligible customer's contribution to FCSAmerica's net interest income and related fees. The more loan business an eligible customer has with the organization, the more they will benefit, financially, from patronage. The board determines the amount of cash patronage each December when financial results for the year are available.