Roseville-based agricultural lender Farm Credit West says it will pay a record $57 million in patronage distributions to more than 4,400 farmers, ranchers and agribusinesses in California and Nevada.
FCW is a member-owned financial services cooperative. Co-ops pay patronage distributions, or dividends, typically based on a percentage of profits.
FCW said its payments are in cash. The cooperative has paid $362 million since the patronage program started in 2002.
Farm Credit West has branch offices throughout the state, including Woodland and Yuba City. FCW is a lending institution of the Farm Credit System, the nationwide network of institutions created by Congress in 1916. The system provides loans, leases and related services to farmers, ranchers, rural homeowners, agribusinesses and rural utility cooperatives.
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