Patronage Dividends

Farm Credit East is a financial cooperative owned by the customers we serve. That means along with a share of voice, our customer-owners get a share of our earnings in the form of a direct payment called patronage.

About the Program

As a cooperative, Farm Credit East is owned by the customers we serve, governed by a customer-elected Board of Directors and our customer-shareholders can benefit from a patronage dividend program that returns a share of our net earnings.
Eight northeast states with patronage by state dollar amount listed.

Patronage Stats

One hundred forty millions dollars
Paid in 2025
For the full year 2024, customer-owners received $140 million in patronage dividends. This included a $131.6 million in customary patronage dividends based on 2024 earnings, along with a one-time $8.4 million special patronage resulting from the Association’s strong financial results which exceeded financial targets. This patronage was paid to customers in February 2025 based on 2024 earnings.
1.25% icon
Of average eligible loan volume
In 2022, customer-owners received a 1.25% reduction in their effective interest rate as a result of this patronage distribution.
One point five billion dollars
Paid since inception
Since the patronage program began, Farm Credit East (and its predecessor cooperatives) have paid $1.5 billion in cash dividends to our customer-owners.
From the Board Chair

"The board of directors is dedicated to ensuring that our cooperative remains a long-time partner to our members by combining in-depth expertise with financial strength. Our philosophy is to return any funds not needed to operate or capitalize the business to members — which we have done consistently for 29 years. Given the Association’s success in 2024, the board was pleased to approve a special patronage to members."

– John Knopf, Farm Credit East Board Chair

2025 marked the 29th consecutive annual patronage payment

In February 2025, members received $131.6 million in patronage dividends. This is equivalent to 1.25% of average eligible loan volume. In addition, the board approved a special one-time $8.4 million patronage distribution based on 2024’s outstanding financial results.

Learn more about patronage dividends by contacting your local office.
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2025 Five-year patronage bar chart
From the CEO

"Paying patronage dividends is a fundamental component of our cooperative’s value proposition. Strong growth, coupled with continued investments in strategic technologies, enabled us to achieve strong financial results in 2024. This patronage payment reflects our members’ trust in us and the strength of our cooperative model, and we’re pleased to share our success with members.”

– Mike Reynolds, Farm Credit East CEO

Patronage Dividends FAQs

Our earnings are either returned in the form of patronage dividends or retained on our balance sheet to help us continue serving agriculture through all its ups and downs. Paid entirely in cash, patronage payments are equivalent to a percentage of the interest Farm Credit East customers paid that year.

Patronage dividend payments are taxable. We encourage recipients to consult with their tax advisors about their specific situations.

The Farm Credit East Board will evaluate a variety of business factors, including earnings, growth and economic conditions to determine the appropriate amount of patronage dividends each year.

Have Additional Questions?

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