AGCAROLINA FARM CREDIT REWARDED MEMBERS WITH 2024 PATRONAGE DISTRIBUTION
AgCarolina Farm Credit recently celebrated another successful patronage distribution to members of their local lending cooperative. The all-cash patronage paid directly to members was $48.5 million, providing members with an interest rate reduction of approximately 1.76%.
“Sharing our profits with members effectively lowers borrowing costs within our agriculture and rural lending cooperative. For 2024, our patronage refund translates to an average interest rate reduction of 1.76% for members," states Evan Kleinhans, CEO of AgCarolina Farm Credit. "This clearly demonstrates the unique financial advantages of partnering with a local cooperative."
Kleinhans continues, "We deeply appreciate our members for choosing us as their local lending partner. Your trust and support enable us to continue providing valuable financial benefits, such as delivering strong patronage refunds.”
Alongside the all-cash patronage distribution, AgCarolina branches hosted celebrations on Patronage distribution day, March 25th 2025. Members who attended the branch celebrations were entered to win the grand prize, a Kubota RTV520. AgCarolina partnered with Louisburg Tractor to give this year’s recipients, Judd and Kimberly Hyde, the RTV.
“AgCarolina is easy to work with”, states Judd Hyde, an AgCarolina Farm Credit member from Spring Hope, NC. Hyde continues, “We are thankful for the simple loan process and knowledgeable AgCarolina team. Our loan officer, Clay Whitley, has been an incredible resource for us, providing valuable financial advice to us when we need it. We have told a lot of people about AgCarolina and the benefits of being a member of this cooperative.”
AgCarolina Farm Credit is committed to serving its members and local agricultural communities across eastern North Carolina. Delivering strong patronage refunds is one of the many benefits of being a part of their local lending cooperative.