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The Amazing Coudersport Ice Mine

The Amazing Coudersport Ice Mine

Thursday, April 13, 2017

Local Lender Distributes Nearly $1 Million in Cash Patronage to Customer-Owners

Photo Caption: AgChoice loan officer Thad Taylor delivers Kenerdell customer-owner Walter Lipinski’s patronage check at Lipinski’s logging and lumber operation.

COUDERSPORT – AgChoice Farm Credit announces its distribution of $939,857 in cash patronage to customer-owners of the Coudersport branch. AgChoice distributed a total of $19.2 million to customer-owners across its territory. AgChoice’s Board of Directors, who are also customer-owners, determined the total payout based on 2016 earnings.

Patronage has been an integral part of AgChoice’s business model since the cooperative formed in 1999. The model allows the organization to build capital, share profits and lower the overall cost of borrowing to customer-owners. Annual cash payouts to customer-owners since 1999, including this year’s, total $250 million.

“Those dollars have a significant multiplier effect beyond putting profits in our members’ pockets,” says AgChoice president and CEO Darrell Curtis. “The patronage model supports profitability within the cooperative, which means AgChoice is there to support customer-owners, Pennsylvania agriculture and rural property owners through good and challenging times.”

In addition to lending, AgChoice offers business services and educational programs aligned with the cooperative’s Shared Purpose: Inspiring Growth in Our Families, Businesses and Rural Communities. AgChoice does not require that these customers also be borrowers.

Business services offered include farm succession and transition planning, dairy benchmarking, appraisals, business consulting, tax planning and preparation, record keeping, crop insurance products and many other accounting and risk management services.

The AgChoice Knowledge Center serves as a hub of information and educational resources for the agricultural industry. AgChoice collaborates with industry allies to offer programs and tools that help farmers be successful and grow Pennsylvania agriculture.

AgChoice Farm Credit’s Coudersport branch office services more than $80.2 million in total loan volume for agricultural, forest products and rural customers in Cameron, Elk, McKean and Potter counties in Pennsylvania as well as forest products customers across its service territory. To learn more about AgChoice Farm Credit and its financial programs, visit www.agchoice.com.

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