$185 Million Returned to Member-Owners in 2024
Contact:
Nora Nolden, Communications Consultant
[email protected] or (651) 245-6804
Compeer Financial to Return $185 Million to Member-Owners in 2024
Sun Prairie, Wis. (February 8, 2024) – Compeer Financial and its board of directors are pleased to announce the organization’s plan to distribute approximately $185 million in patronage payments to member-owners in 2024. This month, member-owners received the first distributions, totaling $52 million.
“Our patronage program underscores Compeer’s firm commitment to agriculture and rural America, highlighting our stable position and ability to provide reliable credit in all economic conditions,” said Jase Wagner, president and CEO of Compeer Financial. “Our board of directors aims to deliver patronage to our member-owners annually; it’s an important benefit of our cooperative business model. Through patronage, we directly return a substantial portion of our earnings to our member-owners, enabling them to reinvest in their farms and businesses. Witnessing our member-owners benefit from this cooperative partnership is truly fulfilling.”
Approximately 33,000 payments will be sent to farmers, rural homeowners and others with ag-related business in Illinois, Minnesota and Wisconsin. The February payment of $52 million reflects equities allocated to member-owners for business they conducted before Compeer Financial’s formation in July 2017. A second patronage payment of $133 million will be issued in August for business member-owners conducted with Compeer Financial in 2023. The total payout of $185 million in 2024 represents more than 40 percent of Compeer Financial’s 2023 adjusted earnings.
Individual patronage payments are determined by the amount of products and services purchased by member-owners. For more information, visit compeer.com/patronage.
About Compeer Financial
Compeer Financial is a member-owned Farm Credit cooperative serving and supporting agriculture and rural communities. The $30.4 billion organization provides loans, leases, risk management and other financial services throughout 144 counties in Illinois, Minnesota and Wisconsin. Based in the Upper Midwest, Compeer Financial exists to champion the hopes and dreams of rural America, while providing personalized service and expertise to clients and the agriculture industry.
Compeer Financial is the third largest cooperative of the Farm Credit System, a nationwide network of lending institutions supporting agriculture and rural communities with reliable, consistent credit and financial services. Learn more about Compeer Financial’s patronage program.
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