A little extra capital can make a big difference


We are pleased, once again, to report that your FCNM cooperative remains financially strong. In March, we distributed a total of $15 million in cash patronage from our 2021 earnings to you, our stockholders. Looking to the future, we commit to protecting  and enhancing the benefits of working with FCNM. 

With the decision to enter into a Letter of Intent to merge with American AgCredit, the FCNM Board approved allocation of undistributed patronage earnings for 2021 to eligible patrons at 100% of the earnings, with a portion equating to approximately 54 basis points to be paid in cash. Of the remaining 2021 patronage earnings, $8.3 million will be sent as a Qualified/Cash Patronage before September 1, 2022. An additional $4.4 million will be allocated to surplus accounts in the names of eligible patrons. You will receive written notification of this allocated surplus issuance in the mailing that includes the patronage checks. Allocated surplus is redeemable at the Board of Directors’ sole discretion subject to compliance with FCA regulations.   

The Board of Directors has diligently been working on the strategic direction of the association and supports the merger. As part of the stockholder vote you will be receiving a detailed package of information which will outline the advantages and disadvantages of the merger.

Since 2005 we’ve returned $157 million in cash to your bottom line.