Board of Directors has voted to distribute a patronage dividend to customer-owners
“The dramatic events of 2020 imposed significant challenges to growers and agribusinesses throughout our chartered service area, none of which could have been anticipated,” said Sureena Thiara, Chair of the Board of Directors at Farm Credit West. “While growers and agribusinesses are very familiar with managing the unpredictable, as a member-owned association we felt it was our duty to do everything in our power to support our customers during these challenging times.”
“At a time when many agriculture producers and agribusinesses are reacting to government regulations and health official recommendations to manage the COVID-19 Pandemic, our customers can be confident their lender is committed to their success,” added Mark Littlefield, President and CEO of Farm Credit West. “Distributing an additional and unexpected 50 bps in Patronage dividends mid-year was the infusion of cash needed to keep many of our customers’ operations thriving during a highly tumultuous time.”
One of the West’s leading agricultural lenders, Farm Credit West and its wholly owned subsidiaries are cooperatively owned lending institutions providing financial services to farmers, ranchers, and agribusinesses. Our offices are located in Arizona and California’s Central Coast, Imperial Valley, South San Joaquin Valley, and Sacramento Valley. The corporate headquarters is located in Rocklin, California. The Farm Credit system is a nationwide network of borrower-owned lending institutions and specialized service organizations created by Congress in 1916. Visit www.farmcreditwest.com.