Board Approves $72 Million Pat Cap Distribution

The CFC Board of Directors has authorized the retirement of nearly $72 million in patronage capital to members—$55.1 million based on margins for fiscal year (FY) 2023 (50% of the total patronage capital allocation) and $16.8 million in unretired patronage capital from FY98. 

Members can visit the CFC Member Website Aug. 14–25 to choose their selected payout method. 

The action marks the 44th year in a row CFC will retire capital credits to its members. In all, $2 billion has been returned since 1980.

Deadline to Select Disbursement Method Is Aug. 25

Members can view their allocation totals for FY23 and retirement amounts for FY23 and FY98 on the Member Website beginning Monday, Aug. 14. Depending on your system’s payout, distribution choices may include check, ACH payment, wire transfer or investing in CFC products, including CFC Commercial Paper, Daily Liquidity Fund, CFC Select Notes, Medium-Term Notes and Member Capital Securities. 

The deadline to select a disbursement method is Friday, Aug. 25 (if you don’t make a selection, a check or ACH payment will be sent). 

Payments Will Be Sent Sept. 15

Payments will be transferred electronically or mailed Sept. 15. Only those members getting checks will receive something in the mail. Electronic transfers, wire transfers and investments will also take place that day. 

Patronage Capital Certificates will be available for printing from the CFC Member Website beginning Sept. 15. You can find them along with your patronage capital summary and retirement history in the Document Center under the Statements folder. 

Contact your CFC regional vice president or associate vice president with questions regarding your system’s fiscal years 2023 and 1998 patronage capital.