The Sun Prairie-based Compeer Financial will soon be distributing more than $150 million in patronage payments to more than 30,000 of its members. The cooperative announced that about a third of those funds will be paid out to member-owners in 49 Wisconsin counties.
Compeer's board voted to increase patronage after seeing strong financial results from the organization's diverse portfolio in 2021.
"We are pleased to offer this increased patronage benefit to our hard-working partners in agriculture and rural America," said Compeer CEO Rod Hebrink. "Our member-owners have experienced significant challenges in recent years, ranging from severe weather impacts, market disruptions, volatility in trade and more. By returning a significant portion of our earnings back to our clients, we can help ease some of the impact from these variables."
Patronage payments are based on the amount of products and services purchased by member-owners, along with the organization's financial performance.
Last year, the cooperative distributed about $145 million in payments as part of its patronage program.
Categories: Wisconsin, Business