Compeer Financial to Return $185 Million to Member-Owners in 2024

Compeer Financial and its board of directors are pleased to announce the organization’s plan to distribute approximately $185 million in patronage payments to member-owners in 2024. This month, member-owners received the first distributions, totaling $52 million.

“Our patronage program underscores Compeer’s firm commitment to agriculture and rural America, highlighting our stable position and ability to provide reliable credit in all economic conditions,” said Jase Wagner, president and CEO of Compeer Financial. “Our board of directors aims to deliver patronage to our member-owners annually; it’s an important benefit of our cooperative business model. Through patronage, we directly return a substantial portion of our earnings to our member-owners, enabling them to reinvest in their farms and businesses. Witnessing our member-owners benefit from this cooperative partnership is truly fulfilling.”

Approximately 33,000 payments will be sent to farmers, rural homeowners and others with ag-related business in Illinois, Minnesota and Wisconsin. The February payment of $52 million reflects equities allocated to member-owners for business they conducted before Compeer Financial’s formation in July 2017. A second patronage payment of $133 million will be issued in August for business member-owners conducted with Compeer Financial in 2023. The total payout of $185 million in 2024 represents more than 40 percent of Compeer Financial’s 2023 adjusted earnings.

Individual patronage payments are determined by the amount of products and services purchased by member-owners.