Compeer Financial is distributing $133 million in cash patronage to its member-owners in August. This demonstrates Compeer Financials’ commitment to the cooperative model and returning value to its clients. Overall, Compeer Financials’ Board of Directors approved a total $185 million in patronage returns for 2024. This is 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.
