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Business News

2020 patronage

February 25, 2021

As stockholders in a customer-owned cooperative, such as Louisiana Land Bank, its borrowers have the unique opportunity to share in their Association’s earnings by way of a patronage. A patronage is a benefit of doing business with a cooperative that can significantly reduce the cost of borrowing money.

Louisiana Land Bank realizes the many stresses endured by its stockholders in 2020 and, as a result, its Board of Directors has approved the return of $11.4 million in cash to the stockholders, which represents an increase to 1.35% of the borrower’s average accrual loan balance.  So, it’s easy to see that this patronage program is just one more reason it pays to do business with Louisiana Land Bank!

 

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