Home About Patronage Program We put our profits in your pockets.® AgCarolina returned over $18 million in profits to our North Carolina members in the past year alone. As an agricultural credit cooperative, AgCarolina Farm Credit is owned by the member-borrowers who purchase stock/participation certificates in the cooperative. After each fiscal year, our elected board of directors looks at the standing of our capital position and decides whether we need to retain the net income of the association to strengthen that position, or if we can distribute some or all of that net income back to our members by declaring a patronage refund. The distribution of profits to our members effectively reduces the cost of borrowing money. Because our members own the bank, they share in the profits. Patronage in 90 seconds The distribution of profits to our members effectively reduces the cost of borrowing money. Because our members own the bank, they share in the profits. Patronage FAQs The use of patronage refunds makes a significant reduction in your effective interest cost and saves you money. The next time you sit down and write a check to another lending institution, ask yourself: "How much of this interest payment will this bank be returning to me?" If the answer is "none," then maybe you should consider doing more of your business where you are a stockholder — at AgCarolina Farm Credit. How can the patronage program benefit me as a Farm Credit member? How do patronage refunds benefit my local Farm Credit Association? How does the patronage refund work in relation to my loan? How is my patronage refund issued? What is a patronage refund? What is nonqualified retained surplus? Will I receive a tax notification regarding my patronage refund? Subscribe to our newsletter to get info about member perks and upcoming events! Subscribe Footer menu Loan Options & Services Resources AccountAccess Locations Contact Raleigh Administrative Office marketing@agcarolina.com 4000 Poole Road Raleigh, NC 27610 Phone: 919-250-9500 Toll Free: 800-951-3276 Fax: 919-231-8475 NMLS: 685614 Ag Carolina Farm Credit Find Your Branch Facebook Twitter Disclosures Privacy and Security Whistleblower CCPA Equal Housing Lender Copyright © 2021 AgCarolina Farm Credit