Stay in the know! Sign up to get Fauquier County news updates delivered to your inbox.
Advertise on Fauquier Now!
Which among the “top five” potential new names for Lord Fairfax Community College would you choose? Vote!
Free classifieds! Members can also post calendar events, news, opinions and more ... all for free! Register now!
Login · Forgot Your Password?
August 5, 2020

Farm Credit office pays dividends of $1.8 million

Farm Credit of the Virginias announced Wednesday that its Warrenton branch has paid $1.8 million in annual cash dividends to customer-owners.

The customer-owned cooperative distributes a portion of its profits to borrowers on an annual basis. Based on FCV’s 2019 financial performance, its board voted to issue $35 million in cash dividends across its service area of Virginia, West Virginia and Maryland.

FCV earned a $45.9-million profit last year, according to its annual report.

Since 2001, FCV has paid more than $318 million in patronage dividends to its customer-owners.

“We’re proud to be one of the few financial institutions that reward our customer for their loyalty in the form of a cash dividend,” CEO Brad Cornelius said. “In addition to offsetting the cost of borrowing, sharing our profits with our customer-owners is our personal and tangible thanks for entrusting us with their business. It is one of the many benefits of borrowing from a cooperative that you own.

“This year, in particular, we were pleased to distribute funds to our customer-owners facing disruptions and financial hardships due to the pandemic. We are committed to being here for agriculture and our rural communities when they need us, in good times and bad. This patronage payment is our way of showing it.”

FCV has a portfolio of $1.8 billion in loans to 11,000 customers — farmers, agricultural businesses and rural homeowners — in the three states.

FCV has a branch at 516 Fauquier Road in Warrenton.
Member comments
To comment, please log in or register.
Facebook comments
Enter your email address above to begin receiving
news updates from via email.
Thursday, May 6
Governor’s announcement citing June 15 provides a first firm potential date for rollback in more than a year
Thursday, May 6
Pandemic’s uncertainty led Warrenton resident Cathy Stern to focus on comic relief — and to share it
Thursday, May 6
New cases remain low across Virginia, while vaccinations continue at brisk pace
More Fauquier news
© Copyright 2011-2018

50 Culpeper Street, Suite 3
Warrenton, Virginia 20187
Crime Log
Add Your News
The Big Picture
Ellen’s Kitchen
and Garden

Real Estate
For Sale
Legal Notices
Post an Ad
Terms of Service