Why Join the Farm Credit Illinois Cooperative?
Delivering member value is our number one priority. Reap the financial, educational, and social rewards of a Farm Credit Illinois membership.
Putting Money Back in Your Pocket
Cash Patronage
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Receive a portion of Association earnings annually, retroactively lowering your effective interest rate.
Over the past three years, cash patronage reduced effective interest rates across the entire member loan portfolio on average by about 1%.
Fee-Free Repricings
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Convert existing loans to a lower interest rate at no cost when the financial market provides opportunities.
No Lender Fees at Closing
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Don’t pay for origination fees, traditional loan appraisals, or UCC filings on agricultural loans.
FreshRoots Young and Beginning Farmer Program
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Farmers up to age 40 or in their first 10 years of farming are eligible for lending assistance and learning incentives.
Tools and Features Working For You
- Secure online portal and mobile app
- Interest-bearing cash management accounts
- Crop and livestock insurance experts helping you manage risks
- Rural homes and recreational property financing
- Farmer-owned cooperative
- On-farm service
- Staff with agricultural expertise
- Complimentary learning programs
What Separates FCI From Other Lenders?
While most businesses are motivated by the returns they earn for their investor-owners, the success of a cooperative business is expressed through the value delivered to its member-owners. Without investor-owners, lending cooperatives strive to understand the needs and preferences of their borrower-owners and design products and services that deliver the greatest cooperative value.
Consider the cooperative advantage when searching for a lender.
Patronage dividends based on participation
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A cooperative’s cash patronage is distributed equitably based on each member’s participation in the business – a contrast to companies that pay dividends based on stock ownership at the cost of the customers. Since patronage pays proportionally to contributions, you reap financial rewards from your membership and lower your overall cost of products and services from the cooperative.
Tailored loan terms, competitive interest rates, and no closing fees*
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Cooperatives listen to member-owners requesting new products and services and want to provide the tools needed to succeed. Inquiring about programs available for your specific business model may provide savings and flexible payment options.
Agricultural expertise and on-farm service
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Part of the value created by a cooperative is expertise in the field. Finding a lender with ag experience who will meet you on the farm will save you valuable time while informing your relationship.
Committed to their industry
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Since cooperatives serve their member-owners, they are dedicated to seeing their industry grow and thrive. Working with a cooperative committed to Helping Farm Families Succeed provides peace of mind through both the prosperous and challenging times of agriculture.
Support to the local community
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Cooperatives are called to serve the local communities in which their employees and members live. Doing business with a local lender who gives back – financially and by volunteering – helps your community prosper.
*does not apply to leases or AgDirect equipment or Rural 1st® country life loans
