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Story Archives: First South Farm Credit pays $9 million cash patronage
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First South Farm Credit pays $9 million cash patronage
In April, member-borrowers of First South Farm Credit will receive patronage refund checks for 2011, Roger F. Chappell, CEO, announced.
The amount of patronage declared for borrowers of First South Farm Credit will total $20 million from 2011 earnings.
The cash portion of the refund to be paid in April will total $9 million, or approximately 13 percent of the interest that accrued on their loans in 2011. The remainder will be placed in allocated capital accounts for future revolvement.
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