WOODWARD – February 29 ,2024 – Customers of Farm Credit of Western Oklahoma (FCWO) will soon be receiving their patronage refund payments totaling $13 million.
“We experienced another solid year of financial performance and are excited to return record amounts to our stockholders. Patronage continues to be the foundation of our cooperative business model and is what sets us apart from other lenders,” said Greg Livingston, FCWO Chief Executive Officer.
According to Livingston, since 1998, a total of $88,400,000 has been returned to FCWO customers in patronage refunds.
“Our ag lenders know agriculture and they are experts in customer service. We offer long-term and short-term fixed rate loans that are tailor-made for each customer,” Livingston said. “Decisions are made locally and quickly, allowing us to get money out the door.”
Giving back is built into our cooperative structure, but the giving back does not stop with patronage refunds. “We take a lot of pride in giving back to our rural communities by supporting local events, fire departments, schools, food pantries, youth organizations and economic development programs,” Livingston said. “That is something I’m proud of and really proud to be a part of!”