At their meeting yesterday, the Board of Directors approved a patronage refund for 2007 of $3,332,000. This is 1.20% of average member loans held by the Association. In comparison, the 2006 patronage refund was $3,031,000 or 1.125% of loans.
The 2007 patronage refund will be paid on March 25, 2008. It will be 100% cash.
