AgCarolina returned more than $11 million in profits to our North Carolina borrowers in the past year alone.
As an agricultural credit cooperative, AgCarolina Farm Credit is owned by the member-borrowers who purchase stock/participation certificates in the cooperative. After each fiscal year, our elected board of directors looks at the standing of our capital position and decides whether we need to retain the net income of the association to strengthen that position, or if we can distribute some or all of that net income back to our members by declaring a patronage refund.
The distribution of profits to our members effectively reduces the cost of borrowing money. Because our members own the bank, they share in the profits.
Want a visual for how it all works? View our patronage infographic.
Amount in patronage refunds paid to customers since 1988
Average annual interest rate discount customers received from patronage over the last 15 years
Questions about the patronage program? See our FAQ.