Northwest Farm Credit Services will pay out dividends to customer-members later this month.  The Spokane-based Credit Union announced last week that $145 million in dividends, or 1.25% of eligible average daily loan balances, will be paid out across the Northwest.  Payments are expected to start in the middle portion of this month.

 

“We’re pleased to pay nearly half our 2019 earnings back to the customer-members who helped create the association’s success,” NWFCS President and CEO Phil DiPofi said. “They in turn can reinvest dollars back into their businesses, families and rural communities, providing a boost to our rural economies.”

 

DiPofi added the association’s strong financial foundation and diverse loan portfolio position it well to help customer-members deal with the inevitable ups and downs of agriculture, including political, economic and weather-related volatility.

 

“Our board and management team are committed to operating a high-performing association, which includes maintaining a strong financial profile, investing in the business for the future, and providing meaningful, reliable patronage dividends for our customer-members,” said DiPofi.

 

Since 2000 NWFCS has paid dividends totaling more than $1 billion to customer-members.

 

 

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