Wisconsin Ag Connection - Badgerland FCS Members to Receive Cash Patronage Payments

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Badgerland FCS Members to Receive Cash Patronage Payments
Wisconsin Ag Connection - 02/26/2008

The Baraboo-based Badgerland Farm Credit Services announced that it will be making $5.25 million in cash patronage payments to its members in early March. Badgerland President & CEO Diane Cole says the cooperative's members are also the owners, and that means they share in the company's financial success.

"We are pleased that over the past four years we've returned more than $30 million in cash patronage to our members," Cole said. "The loyalty and commitment our members show towards their cooperative is what makes our patronage program possible each year."

"The patronage program is intended to be an additional ownership benefit for our members and one that we believe separates us from other financial services providers," adds Mark Hesselink, chairman of the board. "We want them to remember that profits will either help capitalize their association to allow it to grow and keep interest rates competitive or go back into their pockets."

Badgerland Farm Credit Services plans to continue the patronage program in future years based on current business projections and the association's ability to meet its earnings and capitalization targets. The cooperative serves members and customers through offices in 21 communities in 33 southern Wisconsin counties.

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