AgSouth Distributes $30 Million Early Patronage to Members in Wake of Hurricane Helene Devastation

AgSouth Distributes $30 Million Early Patronage to Members in Wake of Hurricane Helene Devastation

Statesville, NC (October 2, 2024): Hurricane Helene caused overwhelming devastation in portions of AgSouth’s region of Georgia, North Carolina, and South Carolina. Homes and farm structures have been destroyed, orchards and crops have been devastated, and the greatest tragedy is lives have been lost. AgSouth CEO and President Vance Dalton commented, “We are committed to standing alongside you as you navigate through this difficult time of cleanup and recovery."

AgSouth’s hope is to provide some assistance towards recovery. As a Cooperative, AgSouth distributes a portion of our profits each year in the form of patronage. These funds are usually distributed in the spring. 

In the wake of damage from Hurricane Helene across our footprint, AgSouth will be making an early payment of 2024 funds to stockholders in the amount of $30 million. The hope is that this effort will support the vast number of members who are in immediate need. Efforts are being made to disperse payments within the next 30 days.

“I know it is going to be a long recovery process. But I can assure that AgSouth Farm Credit will be here for you as long as it takes. Our farmers and communities will continue to be in our prayers," says Dalton. 

About AgSouth:
AgSouth Farm Credit provides loans for land, equipment, and production agriculture; crop insurance; leasing; and home mortgages. The Association serves counties in Georgia, North Carolina, and South Carolina and is headquartered in Statesville, North Carolina. AgSouth is an equal housing lender and an equal opportunity provider.

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