Farm Credit of Northwest Florida Distributing $4.45 Million in Patronage to Member-Owners
MARIANNA, FL. – Farm Credit of Northwest Florida (FCNWFL) is distributing $4.45 million in patronage to member-owners. FCNWFL’s Board of Directors, made up of local farmers and business professionals, elected to distribute a $4.45 Million cash distribution from 2024 earnings.
As a member-owner of FCNWFL, one of the unique benefits is sharing in the profits of the Association through our patronage program. Patronage reduces our members’ cost of borrowing by returning a portion of our net income to our borrowers.
"In support of our members, we are delighted to distribute this year's patronage, showcasing our cooperative strength and collective success," said Stacy Sikes, CEO of Farm Credit of Northwest Florida. "By sharing the financial benefits of our cooperative model, we are empowering our members to succeed, even in challenging times."
Sikes continues, “Our borrowers’ trust and support allow us to continue to give back to our communities and grow our Association.”
Farm Credit of Northwest Florida is Rooted in Giving. In addition to patronage, FCNWFL is proud to sponsor and donate to support agriculture and charitable organizations, as well as our agricultural education scholarship (AgVocator), to ensure funds from doing business with our members flow back into our rural communities, helping keep them strong.
About Farm Credit of Northwest Florida
Farm Credit of Northwest Florida, ACA, headquartered in Marianna, Florida, is part of the nationwide Farm Credit System and operates as a stockholder-owned cooperative that provides loans and other financial services to farmers, ranchers and rural residents in an eighteen-county chartered territory in the Florida Panhandle. The Association currently has total outstanding loans of more than $415 million and serves over 1,600 customers through offices in Marianna, Milton, Jay, Tallahassee, and Monticello. During 2024, the Association generated net earnings of some $6.91 million and will return cash patronage payments of $4.45 million to its member-borrowers this April.