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Blue Earth, MN

1700 Gian Drive, PO Bbox 220
Blue Earth, MN 65013
123-456-7890
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Compeer Client Services

$133 Million Returned to Member-Owners

Contact:

Nora Nolden, Senior Communications Consultant

[email protected] or (651) 245-6804

 

 

 

Compeer Financial Announces $133 Million Patronage Distribution
 
August payout part of overall $185 million patronage distribution in 2024
 

Sun Prairie, Wis. (August 6, 2024) – Compeer Financial is distributing $133 million in cash patronage to its member-owners in August, demonstrating Compeer Financial’s commitment to the cooperative model and returning value to its clients. Overall, Compeer Financial’s Board of Directors approved a total $185 million in patronage returns for 2024, representing 42% of the cooperative’s 2023 adjusted earnings. In February, $52 million in allocated equities was distributed to member-owners.

“As a cooperative, patronage is a vital part of our partnership with our member-owners,” said Jase Wagner, president and CEO of Compeer Financial. “The Board and entire team appreciate the trust our clients place in us and proud to share our success with them. Despite economic uncertainties like inflation and changing interest rates, Compeer continues to be very profitable and maintain a strong capital position. This allows us to return a significant part of our earnings to our members.”

2024 Patronage Payouts:

  • Total Patronage: $185 million (42% of 2023 adjusted earnings)
  • Allocated Equities (Mailed in February): $52 million 
  • Cash Patronage (Distributed in August): $133 million 

Compeer Financial has a diverse portfolio and a strong record of financial performance. The organization emphasizes careful financial planning and risk management to ensure it can meet the capital needs of clients while maintaining solid credit quality. 

“It’s important that we focus on capital management and risk reduction as part of our cooperative model,” added Wagner. “We’re making decisions today that help us support our clients and member-owners in the future. This means aligning our financial strategies to ensure stability and investing in our organization to support growth over the long term.”

Leadership at Compeer Financial, including the Board of Directors, remains confident in the cooperative’s ability to thrive amid economic challenges and market changes. The organization has successfully navigated significant disruptions, including the COVID-19 pandemic and recent banking industry changes, and continues to provide reliable credit to farmers, rural homeowners and ag-related businesses in Illinois, Minnesota and Wisconsin. 

For more information, visit compeer.com/patronage.

 

About Compeer Financial

Compeer Financial is a member-owned Farm Credit cooperative serving and supporting agriculture and rural communities. The $32.3 billion organization provides loans, leases, risk management and other financial services throughout 144 counties in Illinois, Minnesota and Wisconsin. Based in the Upper Midwest, Compeer Financial exists to champion the hopes and dreams of rural America, while providing personalized service and expertise to clients and the agriculture industry.

Compeer Financial is the third largest cooperative of the Farm Credit System, a nationwide network of lending institutions supporting agriculture and rural communities with reliable, consistent credit and financial services. Learn more about Compeer Financial’s patronage program.

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