Champaign County Farm Bureau

Illini FS Shares Success

Illini FS Shares Success

By, Kirk L. Builta, Information Director

Many Farm Bureau members found a surprise in their mailbox this month – a patronage check from Illini FS. No, you didn’t overpay on your latest bill. In fact, Illini FS paid patronage to its Farm Bureau “M” members that are actively engaged in production agriculture.

Illini FS and Growmark Inc, a sister company of the Illinois Farm Bureau, has held a patronage program for 80 years. Illini FS Manager, Roger Read, says he’s pleased the company is able to give back to its customers, and hopes that the program will continue to benefit Farm Bureau members in the future. “It’s been great to share our successful year with our patrons” Read said.

Illini’s patronage program goes into effect only when Growmark Inc. and Illini FS are profitable. To be eligible for this program you must simply be a Farm Bureau “M” member and a patron of Illini FS. Illini paid 3.7% of member purchases of all products excluding Fuel 24 fuel and service income. Patronage is paid in one-half cash and one-half stock in Growmark Inc. In total, Illini paid approximately $1.52 million in patronage, mailed to nearly 2,300 customers on November 1.

Champaign County Farm Bureau Manager Bradley Uken feels that Illini’s program is the most recognizable testament to the strong relationship between the two organizations, and the value of Farm Bureau membership. “I believe that patronage refunds are just another sample of the value available in a Farm Bureau membership. Additionally, this program demonstrates the current and long-term relationship we have with Illini FS” said Uken.

After speaking with area farmers, Read says that many customers were pleased to be on the receiving end of such payments, while the Illini FS Operating Board hopes that this program provides another opportunity to enhance the value of products and services it offers its customers. Each shareholder will receive notice of their total ownership of Growmark, Inc. stock and stock credits sometime in February.