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Farm Credit distributes patronage checks Southwest Georgia Farm Credit members will receive checks totaling more than $3.8 million, which represents the cash portion of a $7.6 million 2006 patronage distribution. The balance of the distribution is placed in an account in their names. After using these funds to capitalize the association for five years, and with sound financial conditions, the board of directors can decide to retire the allocated surplus. The patronage refund essentially reduces the cost of borrowing money. Since 1988, Southwest Georgia Farm Credit has provided a patronage refund to its members. More than $84.8 million has been returned over the past 18 years. "We're pleased that again this year, we are able to take our success and return our profits to our members," said Bobby Brooks, chairman of the board of directors for Southwest Georgia Farm Credit. "Our patronage refund program is another way we prove to members that there are distinct benefits when you do business on a cooperative basis," said Richard Monson, president and CEO. "Most businesses return their profits to their investors. At the end of each fiscal year, we assess if we are able to make a cash distribution to our members, those who use our services. Obviously, the more you do business with Farm Credit, the larger your potential refund."
For more information on the Farm Credit patronage refund program, call 800- 844-2615, ext. 121.
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