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Farm Credit aids Hempstead, Nevada counties

By submitted, 03/2/22 5:20 PM

RUSSELLVILLE – More than $629,000 in shared 2021 profits went to Farm Credit of Western Arkansas members across Hempstead and Nevada Counties in February.

Across 41 western Arkansas counties, Farm Credit of Western Arkansas members are enjoying a record $11.5 million in total patronage this year.  Patronage Cash reflects members’ share of the association’s profits and is an integral part of the cooperative business model.

“With another record year of rural lending, the association is able to share record Patronage Cash,” said Vice President and Branch Manager Clay Lance.

“Sharing profits with members is the cooperative way of doing business and sets us apart from other lenders.  We love this time of year as much as our members.”

As a financial cooperative, customers are member-owners and share in Farm Credit’s profits when the association has a good financial year.  Celebrating 25 consecutive years of paying patronage, $152 million in total patronage has gone to Western Arkansas members since 1997.

Farm Credit of Western Arkansas has more than $1.5 billion in owned and managed assets and 22 office locations across 41 western Arkansas counties. It is a member of the nation-wide Farm Credit System.