FCSAmerica to return cash-back dividends to local ag producers

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Farm Credit Services of America (FCSAmerica) announced that it is returning $4,928,000.00 in cash-back dividends to agricultural producers in Fremont, Mills, Montgomery, Page, Adams, Taylor, Ringgold, Union and Adair Counties.
Eligible customer-owners served by FCSAmerica in the Southwest Iowa Region, received a total of $15.47 Million in 2018 cash-back dividends.
FCSAmerica is distributing more than $230 million in 2018 cash-back dividends to eligible customer-owners in Iowa, Nebraska, South Dakota and Wyoming. This brings the amount of net earnings FCSAmerica has returned to customers since 2004 to $1.7 billion.
"Our 2018 cash-back dividend is our largest to date, and reflects FCSAmerica's commitment to share our financial strength with customer-owners," said Corby Fichter, regional vice president of FCSAmerica in Southwest Iowa.
The 2018 cash-back dividend equates to 0.90 basis points. Barring unforeseen events and significant changes in economic conditions, the FCSAmerica Board of Directors intends to keep cash-back dividends at this enhanced level for the foreseeable future. For 2018, FCSAmerica reported net income of $633 million and members' equity of $5.5 billion.
Cash-back dividends are based on an eligible customer's average loan volume during the calendar year. The more eligible loan business customers have with the cooperative, the more they benefit financially through cash-back dividends.
For more information on the 2018 cash-back dividend, including county-by-county distributions, visit powerofownership.com.
About Farm Credit Services of America
Farm Credit Services of America is proud to finance the growth of rural America, including the special needs of young and beginning producers. With assets of more than $29.8 billion, 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. For more information, visit fcsamerica.com