Local agricultural lender MidAtlantic Farm Credit announced the distribution of $20 million in cash to its members in April. This is in addition to the more than $10 million that the association distributed in February.
MidAtlantic Farm Credit, headquartered in Westminster, is part of the national Farm Credit System, serving customers in Delaware, Maryland, Pennsylvania, Virginia, and West Virginia. As a cooperative, associations within the system can share a portion of their annual profits with their borrower-members. Each association calculates its total income and expenses at the close of each year. The net income remaining, once all expenses are deducted, can then be distributed in accordance with the association's bylaws.