First South Farm Credit Returns $23.2 Million to Members
First South Farm Credit is proud to announce the distribution of $23.2 million in patronage refunds to its member/borrowers, with payments set to be issued in April. This annual return reflects the cooperative’s ongoing commitment to sharing its financial success with the customers it serves.
A patronage refund is a hallmark benefit of cooperative membership. It represents a return of earnings to member/borrowers based on their participation and use of the organization’s financial services. In essence, the stronger the cooperative performs, the more value is returned directly to its members.
A Strong Year of Performance
“Thanks to our member/borrowers, 2025 was another year of strong performance,” said Gines Pérez, CEO of First South Farm Credit. “As a result, the First South Board of Directors has declared a cash patronage of $23.2 million. This continues our commitment to the cooperative principle of returning earnings to our customers.”
This year’s distribution marks an important milestone: 31 consecutive years of patronage refunds from First South to its members. Over that time, the cooperative has returned more than $533 million to its customer-owners.
“This long-standing commitment reflects our dedication to sharing in our collective success,” said Dale Thibodeaux, Chairman of the Board of Directors. “We are proud to have consistently delivered value back to our member/borrowers for over three decades.”
Making a Real Impact for Member/Borrowers
For First South customers, patronage refunds are more than just a benefit—they are a practical tool that supports day-to-day operations and long-term growth.
Cade Easterling, a customer since 2018, puts that impact into perspective. Easterling and his family operate a diversified farm in Blue Springs, AL, raising chickens, cattle, goats, and sheep.
“We get a patronage dividend every year, and we usually use it somehow to invest it back in the farm or catch up, maybe on some winter bills, or maybe use it towards some power bills going into the summer,” Easterling said. “But I usually use mine to make my tractor payment.”
Reducing the Cost of Borrowing
Beyond competitive interest rates, the annual patronage refund plays a key role in lowering the effective cost of borrowing for First South members.
“By offering competitive rates and distributing a portion of our profits, we help reduce the overall cost of financing for our borrowers,” Pérez added. “It’s a tangible way we invest back into the agricultural communities we serve.”
That support extends beyond annual refunds. For customers like Easterling, access to reliable financing is just as important.
“First South’s really good about helping us whenever we need to buy something new,” he said. “They give us a loan in a timely manner.”
Supporting Agriculture and Rural Communities
First South Farm Credit is a member-owned cooperative that provides short-, intermediate-, and long-term financing, along with related services, to:
- Full- and part-time farmers
- Agricultural businesses
- Rural landowners
The organization serves approximately 11,700 member/borrowers and manages a loan portfolio exceeding $3.4 billion. With 44 branch offices across Alabama, Louisiana, and Mississippi, First South remains deeply rooted in the communities it supports.
As part of the nationwide Farm Credit System, First South has been dedicated to strengthening rural America for more than 100 years—combining financial expertise with a cooperative model that puts customers first.