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Farm Credit East reported solid 2023 financial results today, showing continued growth in loans coupled with strong earnings, which allowed Farm Credit East to distribute a combined $130 million in patronage dividends to eligible customer-owners based on 2023 earnings. 

Farm Credit East, ACA, the Northeast’s largest agricultural lending cooperative, announced its distribution of $120 million in cash patronage dividends to 12,500 farm, fishing and forestry business owners and operators across the Northeast. In addition, the board approved a special one-time patronage distribution based on 2023’s outstanding financial results, for a total of $130 million of earnings returned to customer-owners. 

Farm Credit East reported solid 2022 financial results at its annual meeting held earlier this week. Continued growth in loans coupled with strong earnings allowed Farm Credit East to distribute a record $117 million in patronage dividends to eligible customer-owners based on 2022 earnings. 

Farm Credit East, ACA, the Northeast’s largest agricultural lending cooperative, announced its distribution of a record $117 million in cash patronage dividends to 12,250 farm, fishing and forestry business owners and operators across the Northeast. On average, eligible customers received a 1.25% reduction in their effective interest rate as a result of this patronage distribution.