CFC recently retired and distributed $60 million to members, representing half of the fiscal year (FY) 2020 patronage capital allocation ($48 million) as well as $12 million in unretired patronage capital from fiscal year 1995.
This marks the 41st year in a row CFC has returned capital credits. In all, CFC has returned $1.81 billion to its member-owners since 1980. The 897 systems receiving distributions chose the option to receive a mailed check (27 percent) or wire transfer (65 percent) or put the money into a CFC investment product (8 percent).
The CFC Board of Directors voted earlier this year not to seek contributions to the Cooperative System Integrity Fund in FY 2021 due to the fund being in such a strong financial position. CFC also did not process any ongoing contributions in FY 2021 from systems that previously elected to automatically donate a percentage of their annual patronage capital distribution.
Packets that include CFC patronage capital certificates and checks were mailed to members on September 18. Wire transfers also were sent that day.