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Wisconsin Ag News Headlines |
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Badgerland Financial Distributes Patronage Payments
Wisconsin Ag Connection - 06/22/2016
The Prairie du Sac-based Badgerland Financial has distributed $13.5 million in patronage payments to 7,000 of its members in fiscal year 2015. Cooperative CEO Diane Cole says Badgerland's board of directors adopted a resolution several years years ago to
allocate and pay a patronage distribution to qualifying members based on the net interest margin of loans borrowed from the association if pre-selected earnings and capital levels were achieved. All of the money has already been paid out in cash.
"The patronage program is one of the many benefits of working with our cooperative and a knowledgeable team," Cole said. "Together we navigate both the good and challenging times, and together we share in the success. Our members know that we are
committed to serving Wisconsin agriculture and the rural communities we call home."
More than $111 million has been distributed since the inception of the patronage program 12 years ago.
The company says it 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.
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