$20 Million in Cash Infused into Local Economy
News Release | FOR IMMEDIATE RELEASE
April 8, 2025
Farm Credit of Florida, the leading agricultural lending cooperative in the state, has distributed a record-breaking $20 million in cash to its member-borrowers this spring through its patronage program, President and CEO John Gregory announced.
“Patronage is a tangible demonstration of how our cooperative principle sets us apart,” Gregory said. “Unlike traditional organizations, our profits don’t go to distant shareholders or employee stock options—they return to our member-owners. The more business you do with Farm Credit of Florida, the more of those profits are reinvested in you.”
This year’s patronage declaration, approved by the Association’s Board of Directors based on 2024 net income, reflects strong earnings and a solid capital position. The $20 million distribution effectively reduces the interest paid by member-borrowers and represents an impressive 53% of the Association’s 2024 net income.
“This past year presented significant challenges for Florida’s farmers and ranchers,” said Farm Credit of Florida Board Chairman Bob Lines, a cattleman and sod producer based in Indiantown, Florida. “As a farmer-owned cooperative, we understand how vital a little extra capital can be for operations—whether it’s funding new equipment, covering operating costs, or supporting payroll. We hope this substantial patronage payout helps our members continue growing their businesses.”
Since 2013, Farm Credit of Florida has distributed nearly $150 million in earnings back to its members, reinvesting those dollars in local communities and economies across Florida. The Association’s Board of Directors determines the annual patronage allocation.
“I’m proud that Farm Credit of Florida’s financial strength allowed our Board to make this historic distribution while continuing to grow the Association’s capital,” Gregory added. “This achievement wouldn’t be possible without the trust, loyalty, and business of our members—and I’m deeply appreciative of our dedicated staff, whose hard work plays an essential role in making this distribution possible.”
As part of the nationwide Farm Credit system, which has supported agricultural and rural communities for over a century, Farm Credit of Florida remains steadfast in its mission to serve its communities for the next 100 years and beyond.
About Farm Credit of Florida:
Farm Credit of Florida provides loans for land, equipment, and production agriculture; crop insurance; leasing; and home mortgages. The Association serves 36 counties in Florida. Farm Credit of Florida is an equal housing lender and an equal opportunity provider.