DeWITT, IOWA (February 15, 2024) — Farmers and ranchers in Clinton, Cedar, Jackson, Muscatine, and Scott Counties will be receiving an estimated $5 million in cash-back dividends returned by Farm Credit Services of America (FCSAmerica) as part of the financial cooperative’s patronage program. Eligible customer-owners will be issued cash-back dividend checks the last week of January.
“No other lender can say it has shared its financial success with customers in such a tangible and meaningful way,” says Jim Knuth, FCSAmerica senior vice president of business development in Iowa. “Cash-back dividends effectively reduce our cost of borrowing. But there also is an exponential impact to putting money into the pockets of farmers and ranchers to invest in their operations, families, and rural communities.”
2024 County-Level Cash-Back Dividends Distribution
This year’s cash-back dividend is equal to 100 basis points — or a return of 1% of a customer’s eligible average daily loan balance with FCSAmerica. The 2024 payout equates to the following county-level distributions:*
- $1.7 million in Clinton County.
- $931,000 in Cedar County.
- $762,000 in Jackson County.
- $506,000 in Muscatine County.
- $1.1 million in Scott County.
*Amounts are rounded.
Payout data for every county in Iowa is available on the interactive 2024 Cash-Back Dividends Distribution Map.
The Board of Directors for FCSAmerica has also approved a cash-back dividend to be paid from the cooperative’s 2024 net earnings, the amount of which will be determined in December. Since 2004, FCSAmerica has offered a patronage program and shared its success in the form of cash-back dividends. The cooperative has now returned more than $1.3 billion to farmers, ranchers and agribusinesses in Iowa.
About Farm Credit Services of America
Farm Credit Services of America is a customer-owned financial cooperative proud to finance the growth of rural America, including the special needs of young and beginning producers. With nearly $43.3 billion in assets and $7.6 billion in members’ equity, FCSAmerica is one of the region’s leading providers of credit and insurance services to farmers, ranchers, agribusiness and rural residents in Iowa, Nebraska, South Dakota, and Wyoming. Learn more at fcsamerica.com.
