Carolina Farm Credit Cash Dividend Issued!

Carolina Farm Credit Cash Dividend Issued!

STATESVILLE, NC –  Carolina Farm Credit CEO Vance C. Dalton, Jr. is proud to announce that a cash dividend of almost $33 million will be distributed to members during April. This distribution represents our cooperative’s sharing of 2021 profits, these returns reduced a customer’s effective interest rate by approximately 2% in 2021!

“Carolina Farm Credit had another successful year in 2021. We are pleased to be able to share our success with our borrowers by putting our profits in their pockets,” said Vickie Smitherman, Chair of the Carolina Farm Credit Board of Directors. Carolina Farm Credit has declared patronage refunds for 34 consecutive years, and since 1988, patronage refunds have totaled $546.1 million.

"When we distribute our profits to our borrowers, it reduces their effective cost of borrowing," Vance C. Dalton, Jr. stated, "and it proves that there are distinct financial benefits in doing business on a cooperative basis."

For more information about Carolina Farm Credit’s 2021 performance, you can view the Carolina Farm Credit Annual Report online.

Carolina Farm Credit is a stockholder-owned cooperative that provides financing to full and part-time farmers, agricultural-related businesses, and for the construction and purchase of homes in 54 counties through 29 branch offices. Appraisal and Leasing services are also available.

For over 100 years, Farm Credit has been supporting rural communities and agriculture with reliable, consistent credit and financial services. 

Carolina Farm Credit serves over 12,000 members with outstanding loans totaling more than $1.8 billion. The cooperative’s territory covers the western half of North Carolina, with branch offices located in Albemarle, Asheboro, Asheville, Browns Summit, Burnsville, Carthage, Conover, Ellerbe, Graham, Hendersonville, Jefferson, Lenoir, Lexington, Lincolnton, Monroe, Murphy, Pilot Mountain, Roxboro, Rural Hall, Salisbury, Shelby, Siler City, Sparta, Spindale, Statesville, Taylorsville, Wilkesboro, Yadkinville, and Yanceyville.

Directors for Carolina Farm Credit are Vickie N. Smitherman, Chair, East Bend; D. Kaleb Rathbone, Vice-Chair, Waynesville; John M. Barnard, Statesville; E. Bernard Beck, Seagrove; W. Rex Bell, Statesville; Mark A. Bray, Lawsonville; Andrew W. Burleson, New London; David M. Coltrane, Pleasant Garden; Dan A. Hunsucker, Conover; Joseph A. Lail, Shelby; J. Eric McPherson, Snow Camp; Clark M. Newlin, Haw River; Leslie G. Sparks, DVM, Sparta; L. Kim Starnes, Salisbury; Dr. Alton Thompson, Summerfield.