HARRISONBURG, VA (Rocktown Now) — The Harrisonburg branch of Farm Credit of the Virginias (FCV) announced they paid just over $3.1 million in cash to their customer-owners in the form of a patronage dividend.

Farm Credit of the Virginias’ cooperative framework allows the Association to return a portion of its profits back to customer-owners on an annual basis. Farm Credit of the Virginias’ Board of Directors elected to return 81% of their net profits to their customer-owners.

Farm Credit of the Virginias CEO, Brad Cornelius, said in a press release, “We’re thrilled to be able to return crucial dollars to our customer-owners and reinvest money in our rural communities through our patronage refund program.”

Cornelius added “Patronage dividends are our way of showing our customers that we appreciate their business, and we will always do our best to support their goals and dreams.”

Farm Credit of the Virginias provides over $2 billion dollars in financing to more than 12,000 farmers, agribusinesses and rural homeowners throughout Virginia, West Virginia and western Maryland. Farm Credit is a cooperative capitalized largely through investments made by farmers, ranchers and the rural homeowners and businesses that borrow from them.

For more information, visit the FCV website or the Harrisonburg location at 4646 South Valley Pike.