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Association gave out $54 million in cash to its members this month
MidAtlantic Farm Credit recently announced a record-breaking patronage distribution of over $54 million in cash to its members this month. The Association returned over 73 percent of their patronage sourced income, reducing borrowersâ interest rates by almost 40 percent.
âAs a member-borrower of Farm Credit, one of the most important financial benefits is sharing the profits of the association with our members through our patronage program,â says Tom Truitt, Chief Executive Officer of MidAtlantic Farm Credit. âWe are proud to distribute a record-breaking amount back to our customers this month, especially after the challenges we have all faced this past year.â
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Farm Credit Announces Record-Breaking Patronage Distribution to Members
MidAtlantic Farm CreditApril 6, 2021 GMT
Westminster, MD, April 06, 2021 (GLOBE NEWSWIRE) MidAtlantic Farm Credit recently announced a record-breaking patronage distribution of over $54 million in cash to its members this month. The Association returned over 73 percent of their patronage sourced income, reducing borrowers’ interest rates by almost 40 percent.
“As a member-borrower of Farm Credit, one of the most important financial benefits is sharing the profits of the association with our members through our patronage program,” says Tom Truitt, Chief Executive Officer of MidAtlantic Farm Credit. “We are proud to distribute a record-breaking amount back to our customers this month, especially after the challenges we have all faced this past year.”
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Farm Credit Donates $85,000 to Local Food Banks
MidAtlantic Farm CreditDecember 23, 2020 GMT
Westminster, MD, Dec. 23, 2020 (GLOBE NEWSWIRE) MidAtlantic Farm Credit, a members-owned cooperative and an institution of the national Farm Credit system, donated a total of $85,000 in December to local food banks in their five state territory:
$25,000 to the Maryland Food Bank
$25,000 to the Food Bank of Delaware
$12,500 to Blessings of Hope in Pennsylvania
$12,500 to Helping Harvest in Pennsylvania
$10,000 to the Mountaineer Food Bank in West Virginia (half of joint contribution with Farm Credit of the Virginias)