Compeer Financial returned a record $150 million in patronage payments to eligible member-owners this August. This is a $5 million increase over the organization’s 2021 payout, and equates to nearly 42 percent of the cooperative’s adjusted earnings.
The Compeer Financial Board of Directors voted to increase patronage returns after seeing strong financial results in 2021. The organization continues to meet business objectives and benefit from a diverse portfolio, which has resulted in solid earnings and financial performance.
“We are pleased to offer this increased patronage benefit to our hard-working partners in agriculture and rural America,” says Rod Hebrink, president and CEO of Compeer Financial. “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. Not only that, the team at Compeer is proud to be their trusted advisors, staying at their side in all conditions.”
With this year’s patronage payments, Compeer Financial has distributed more than $894 million in patronage since the organization was formed five year ago.
This is the second of two patronage payments Compeer Financial made to member-owners in 2022. The August cash patronage payment is for business member-owners had with Compeer Financial in 2021. In February, the organization paid out $52 million in allocated equities to member-owners who previously conducted business with 1st Farm Credit Services, AgStar Financial or Badgerland Financial before the organizations joined to form Compeer Financial in July 2017.
About Compeer Financial
Compeer Financial is a member-owned Farm Credit cooperative serving and supporting agriculture and rural communities. The $27.7 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.