Compeer Financial Distributes Patronage Payments
Wisconsin Ag Connection - 08/08/2018
With its first full year of business now in the books, the region's largest financial cooperative announced it will distribute $65 million in patronage payments to more than 30,000 of its members to close out fiscal year 2017. The Sun Prairie-based Compeer
Financial says about $10.6 million of the funds are being returned to 8,750 member-owners in Wisconsin as a way to share profits with its customers.
"As a cooperative, returning a portion of our earnings is an important component of our business model," said Compeer CEO Rod Hebrink. "We're pleased to be paying back about a third of our earnings to member owners this year."
This is the second payment made to Compeer's member-owners in 2018. Back in March, the farm credit institution distributed $118.6 million in patronage payments to nearly 39,000 of its members.
The cooperative was formed last year when Badgerland Financial, 1st Farm Credit Services and AgStar Financial Services joined forces--making Compeer Financial the third largest cooperative of the Farm Credit System.