When carrying out financial business, it’s nice to know that the people you’re working with have your back too. As a customer-owned financial cooperative, Farm Credit Services of America has a unique way to give back to their customers through cash-back dividends. Jim Knuth, senior vice president of business development at Farm Credit Services of America, explained how their cash-back dividend program works.
This is now the 19th consecutive year that Farm Credit Services of America has shared a portion of its net earnings with eligible customer-owners. Knuth said that customers can continue to see that payout every year for the foreseeable future.
Knuth said the amount of each customer’s dividend is calculated by the amount of business they did with Farm Credit Services of America.
Some people may wonder why Farm Credit Services of America would choose to give cash back to its customers instead of retaining all of its profits, but Knuth said it’s just because that’s how their cooperative business model works.
Knuth added that customer-owners can expect their checks soon. In Iowa alone, Farm Credit Services of America has distributed $124.5 million back to its customer-owners in 2023. For more information, visit https://www.fcsamerica.com/about/cooperative-model/cash-back-dividends.