Compeer Financial announced the return of $150 million in patronage payments to eligible member-owners this August. This marks a significant milestone as the cooperative celebrates $1 billion in patronage returns since its formation in 2017.
“This remarkable achievement of reaching $1 billion in patronage returns reflects our unwavering dedication to sharing Compeer’s success with our valued member-owners,” said Jase Wagner, president and CEO of Compeer Financial.
This marks the second of two payments made to member-owners in 2023 by Compeer Financial. The total $202 million in returns this year represents around 48 percent of Compeer Financial’s 2022 adjusted earnings.
“Our patronage program is a testament to our steadfast commitment to agriculture and rural America, and our ability to provide reliable credit in all economic conditions,” said Wagner.
In February, the organization distributed $52 million in allocated equities to member-owners who conducted business with 1st Farm Credit Services, AgStar Financial or Badgerland Financial. These organizations merged to form Compeer Financial in 2017. Individual patronage payments are based on the amount of products and services purchased by member-owners.
Learn more about the patronage program at compeer.com/patronage.
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