$11.2 Million in Patronage

We are returning over half of our 2020 profits to the Alabama farmers and rural property owners who borrow money from us. This amount equates to a record $11.2 million in cash, which is equal to a full percent of the interest our customers paid in 2020. Customers of this financial cooperative aren't just borrowers — they are members, and when the co-op does well, so do they. 

"While the past year has brought many of us challenges that had to be overcome, Alabama Ag Credit has remained committed to helping our customers, the ag community, and our rural communities make it through these tough times.," said Larry Gibson, board chairman. "As we have navigated through the past year, we are proud of the results our association has made and even more proud to send this record cash patronage to our members."

Many of our cooperative's board of directors are farmers themselves and have a deep understanding of the challenges our members face each day. In carefully managing the institution's safety and soundness, board members also determine how best to distribute the net income we earn each year, including approving the cash patronage amount. The payments, which will mail on 3/18/2021, are cash payments that go directly to our members who primarily live in Alabama's lower 40 counties. Since 2006 we have returned nearly $98 million, those dollars reach beyond the members and into the communities and economies where that money circulates.

The financial results discussed here are preliminary and unaudited. Please visit this spring to see our complete results.