The board of directors of Southern AgCredit, a rural lending cooperative, returned a record-setting $13.4 million in cash patronage to its customer-owners in late February.

As a borrower-owned cooperative, Southern AgCredit returns a portion of its earnings to its customer-owners after it has met its needs for a strong capital base. This year’s patronage distribution is the largest in the organization’s history.

Southern AgCredit is a full-service cooperative lender that specializes in financing rural land, agricultural operations, equipment, agribusiness and country homes in Mississippi and Louisiana. It is a member of the Farm Credit System, a nationwide network of agricultural lending cooperatives.