AgCredit announces profit sharing

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AgCredit

FOSTORIA, Ohio — AgCredit recently declared a patronage refund of 30.03 percent for 2017, resulting in $24.1 million refunded to its member borrowers.

This patronage payment provides a refund to the lending cooperative’s shareholders of 30 cents for every dollar they accrued in interest on their loans for the past year.

Earnings for 2017 were $57 million. AgCredit’s year-end numbers reflected a 4.63 percent growth rate and $83 million increase as loan volume increased to $1.879 billion.

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