LEXINGTON, Ky. — Central Kentucky Ag Credit will pay more than $3.5 million in a patronage distribution to member-borrowers of the Association in April. The patronage dividend is paid to local farmers and rural residents who are active member-borrowers of the agricultural cooperative.

This makes 20 consecutive years the Association has distributed patronage to its member-borrowers. The distribution is determined after all operating expenses and financial reserves are determined. The cooperative’s board of directors then authorizes the distribution. The $3.5 million distributed this year is the largest in the Association’s history. The total distribution amount for the 20 years is more than $27 million.

Jim Caldwell, Ag Credit President and CEO stated, “Central Kentucky Ag Credit operates as a true cooperative, in that we pay a patronage distribution when we are able to do so. If the Association is successful, the Board looks at the future of the Association and then makes a patronage distribution to members.”

Mr. Caldwell also said, “It’s not hard to see that the cooperative business structure is one of our greatest distinctions in the marketplace.”

Marcus Barnett, Ag Credit Vice President and Chief Financial Officer said, “In the last 5 years we have distributed over $15 million, it speaks true to the cooperative model. We are able to return money to the pockets of our farmers, and in turn the money gets invested in the local communities that we serve.”

Ag Credit’s service to member-borrowers during the past 20 years has expanded significantly with more than $500 million in outstanding loans. The financial cooperative provides lending services through seven full-service officers in the Bluegrass.

To learn more about Central Kentucky Ag Credit’s patronage distribution go online to: AgCreditOnline.com/services/patronage-program

— Central Kentucky Agricultural Credit Association

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