CFC Board of Directors Approves $57.7 Million Patronage Capital Distribution

The CFC Board of Directors has authorized the retirement of $57.7 million in patronage capital to member-owners, $44.9 million based on margins for fiscal year (FY) 2021—50 percent of the total patronage capital allocation—as well as $12.8 million in unretired patronage capital from fiscal year 1996.

This marks the 42nd year in a row CFC returned capital credits. In all, CFC has returned more than $1.8 billion to its member-owners since 1980.

Allocation Totals Available August 17

Members’ allocation totals for FY 2021 and retirement amounts for FY 2021 and FY 1996 will be posted online August 17. Depending on member systems’ payout, distribution choices may include receiving a check or wire transfer, or investing in CFC Commercial Paper, Daily Liquidity Fund or CFC Select Notes. Member investments earn a return while providing a valuable source of funds for the electric cooperative network and enhance CFC’s position in the capital markets.

“CFC offers a range of short-term and long-term investment options with market-driven rates,” CFC Senior Vice President and CFO Ling Wang said. “We take great pride in our cooperative history and that our investments come from member-owners. Thank you to all of our members for their ongoing support of CFC and for considering CFC investments.”

Members can view their cooperative’s patronage capital distribution amount—and select options for disbursement, if available—by visiting the secure CFC Member Website and then clicking the “Account Portfolio” tab, selecting “Portfolio Management” and then “Patronage Capital.”

Deadline to Select Disbursement Method is August 27

Members can select their disbursement method through Friday, August 27. If a selection is not made, a check will be sent. Payments will be transferred electronically or mailed on September 17. Patronage Capital Certificates will be available for printing from the CFC Member Website beginning September 17.

Contact your CFC regional vice president or associate vice president with questions regarding your system’s fiscal years 2021 and 1996 patronage capital.