Financement agricole plans a distribution of patronage before the season
MAHOMET – In response to last year’s unprecedented conditions facing agriculture and the economy in general, the board of directors of Farm Credit Illinois (FCI) said that a one-time distribution of $ 10 million Preseason sponsorship dollars would be distributed this week to members of the cooperative’s farming family.
In addition, $ 30 million will be paid to members the week of June 14, as a traditional annual cash sponsorship. FCI will also distribute $ 2.7 million in sponsorship separately to eligible loans from its agri-food loan portfolio of the Capital Markets Group, bringing the cooperative’s total sponsorship to $ 42.7 million. This represents 48.5% of the Association’s 2020 net profits paid to borrowing members in 2021.