Farm Credit Services of America (FCSAmerica) recently announced that eligible customer-owners in four counties in northeast Iowa served by the FCSAmerica Cedar Falls office are receiving checks totaling $3.13 million this month. These checks represent the areas’ share of the cooperative’s $145 million cash-back dividend.
“Customers can spend or invest their cash-back dividends as they wish,” said Angie Treptow, Vice President. “But past results suggest a significant percentage will be spent in the communities where they live. The Cedar Falls local office works with customers in Black Hawk, Bremer, Butler and Grundy counties. The remainder of FCSAmerica’s earnings is retained to serve the financial needs of rural America today and for future generations.
“We had very good year in 2013 and we’re very pleased that our customer-owners will receive a significant portion of our net earnings,” said Treptow.
“The 2013 cash-back dividend is the largest in our history and is possible because of our financial cooperative’s continued financial strength.”
Each eligible customer’s cash-back dividend is based on the average loan volume during the calendar year. The more eligible loan business a customer has with the cooperative, the more they benefit financially through cash-back dividends. The FCSAmerica Board approved a patronage program for 2014, with the total cash-back dividend to be decided in December 2014.
For more information on the 2013 cash-back dividend, including county-by-county distributions, visit powerofownership.com.