Farm Credit Services of America Returns an Estimated $6.8 Million in Cash-Back Dividends to Customer-Owners in Davis, Keokuk, Mahaska, Wapello and Washington Counties
Farm Credit Services of America Returns an Estimated $6.8 Million in Cash-Back Dividends to Customer-Owners in Davis, Keokuk, Mahaska, Wapello and Washington Counties (submitted photo)
OSKALOOSA, IOWA. (February 13, 2024) – Farmers and ranchers in Davis, Mahaska, Keokuk, Washington and Wapello counties will be receiving an estimated $6.8 million in cash-back dividends returned by Farm Credit Services of America (FCSAmerica) as part of the financial cooperative’s patronage program. Eligible customer-owners will be issued cash-back dividend checks the last week of January.
“No other lender can say it has shared its financial success with customers in such a tangible and meaningful way,” says Jim Knuth, FCSAmerica senior vice president of business development in Iowa. “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.”
2024 County-Level Cash-Back Dividends Distribution
This year’s cash-back dividend is equal to 100 basis points — or a return of 1% of a customer’s eligible average daily loan balance with FCSAmerica. The 2024 payout equates to the following county-level distributions:*
– $349,000 in Davis County.
– $1.7 million in Keokuk County.
– $1.9 million in Mahaska County.
– $2.2 million in Washington County.
– $664,000 in Wapello County.
*Amounts are rounded.
Payout data for every county in Iowa is available on the interactive 2024 Cash-Back Dividends Distribution Map.
The Board of Directors for FCSAmerica has also approved a cash-back dividend to be paid from the cooperative’s 2024 net earnings, the amount of which will be determined in December. Since 2004, FCSAmerica has offered a patronage program and shared its success in the form of cash-back dividends. The cooperative has now returned more than $1.3 billion to farmers, ranchers and agribusinesses in Iowa.
