WOODWARD – March 7, 2023 – Customers of Farm Credit of Western Oklahoma (FCWO) will soon be receiving their patronage refund payments totaling $11 million.
“We experienced sound financial performance last year and are honored to return a record amount to our customer-owners that is almost double what we returned in 2022. Patronage is the foundation of our cooperative business model and is what distinguishes Farm Credit of Western Oklahoma from other lenders,” said John Grunewald, FCWO Chief Executive Officer.
According to Grunewald, since 1998, a total of $75,400,000 has been returned to FCWO customers in patronage refunds.
“FCWO specializes in agriculture lending and we do agriculture all day, every day. Our staff knows agriculture because they are involved in agriculture. Our experienced loan officers work to get to know customers and their operation. We offer long-term and short-term fixed rate loans and decisions are made locally at each branch.”