Release date: 3/6/2017
STATESBORO, GA (March 6, 2017): AgSouth Chief Executive Officer Pat Calhoun announced that current and former members of AgSouth Farm Credit in Georgia and South Carolina received more than $19 million in patronage from the agricultural cooperative’s 2011 profits. The distribution went out to members last week.
According to Chief Financial Officer Alisa D. Gunter, “While distribution of allocated surplus is a board decision, the revolvement of these funds has been on a consistent five-year schedule for the past 25 years. To date the association has returned more than $452 million in cash and allocated surplus to our members.”
AgSouth expects to announce a significant return of patronage later this month from the Association’s 2016 profits.
AgSouth Farm Credit provides loans for land, equipment and production agriculture; crop insurance; leasing; and home mortgages. The Association is headquartered in Statesboro, Ga.
For more information about AgSouth or the patronage program, please contact AgSouth CFO Alisa D. Gunter at 912-764-9091 x 2663.
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