Western AgCredit is a cooperative owned by the farmers and ranchers that the association lends money to for agriculture related purchases. As such, profits are shared with customers through a cooperative patronage program. Patronage is paid to eligible patrons based on the amount of their net interest margin, effectively reducing the cost of doing business with us!
Decisions regarding payment of patronage are at the discretion of the Western AgCredit Board of Directors and are subject to the association's bylaws and the Farm Credit Act. Each year the board declares a patronage distribution equal to the amount of patronage earnings the board determines are not necessary to adequately capitalize the association. Unlike some cooperative patronage programs, Western AgCredit's program pays all of its qualified patronage in cash to our membership. Patronage earnings are generally delivered to customers twice a year.