GPAC Pays Record Patronage Dividend
Based on our record net income in 2011, our board approved a patronage declaration of $4.96 million, the highest in our history. A portion was set aside as operating capital for the association and is eligible for future distribution to stockholders, and the remaining $3.22 million was distributed to our stockholders in cash in March, effectively lowering their borrowing costs.
“Like the farmers and ranchers we serve, Great Plains Ag Credit remains focused on agriculture, even in tough times,” says Great Plains Ag Credit CEO Tim McDonald. “We are proud that through patronage, we can reinvest in rural communities and support jobs in the agricultural sector.”
This is the 12th consecutive year that Great Plains Ag Credit has shared its earnings through its patronage program. The board has approved more than $33 million in patronage declarations since 2000.
Who We Are — A Proud History
Great Plains Ag Credit has a proud history of providing reliable credit to farmers and ranchers on the Texas Great Plains. We offer a full line of agriculture loans, from operating lines of credit to rural land financing. Plus, as a cooperative, we share our earnings with our borrowers through a patronage program.
Great Plains Ag Credit
5701 West Interstate 40
Amarillo, TX 79106
P.O. Box 50060
Amarillo, TX 79159
1-800-840-5685