Patronage Terms

The following are terms that may appear on the apron of your patronage refund check or notice:


  • Amount Paid In Cash: The portion of your patronage refund that is being paid in cash.
  • Amount Distributed as Qualified Allocated Surplus: The portion of your patronage refund placed in a Qualified Allocated Surplus account in your name.
  • Previous Patronage Payable Account Balance: Represents previous years’ cash distributions for which a check was not issued or for which issued checks were not cashed. Checks may not be issued if the amount is less than the minimum check amount established by the board or at the direction of the member.
  • Withheld for Taxes: Represents the tax withheld from a patronage refund as required by applicable federal or state tax laws.
  • New Patronage Payable Account Balance: If applicable, represents the amount of net cash patronage payable not distributed because it falls below the minimum check amount. Members may opt to have this amount applied to their loans or paid by check by contacting their local Association office.
  • Nonqualified Allocated Surplus and/or Nonqualified Retained Surplus: Represent the portions of the patronage refund allocated to these accounts in the member’s name. These terms only appear on the apron of your patronage refund notice if they are applicable.

Patronage Tour

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