---
title: National Cooperative Bank Issues Largest Patronage Refund in Its History
description: National Cooperative Bank issues $58.5 million patronage refund to 1,685 cooperative stockholders nationwide including $12.9 million in cash.
image: https://www.ncb.coop/hubfs/NCB%20WMBC%20Logo%20-%20Featured%20Image.png
---

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# National Cooperative Bank Issues Largest Patronage Refund in Its History

September 7, 2022

![NCB_WorkingTogether_VERT_Logo_PNG-2](https://www.ncb.coop/hs-fs/hubfs/NCB_WorkingTogether_VERT_Logo_PNG-2.png?width=477&name=NCB_WorkingTogether_VERT_Logo_PNG-2.png)Arlington, VA (September 07, 2022) — National Consumer Cooperative Bank, the holding company of National Cooperative Bank, N.A., (NCB), a leading financial institution dedicated to providing banking solutions to cooperatives, their members, and socially responsible organizations nationwide, is pleased to announce the issuance of a $58.5 million patronage refund to 1,685 cooperative stockholders nationwide, including $12.9 million in cash.

The patronage refund is distributed in the form of cash and additional stock, as directed by the Board of Directors, and creates a mutually beneficial relationship between the institution and our cooperative owners. Stockholders receiving patronage are those that paid interest and /or fees on a patronage basis in 2021.

“As a cooperatively owned financial institution, the benefits of ownership can be very rewarding,” stated Casey Fannon, President & CEO. “We greatly value the business we have with our cooperative customers, many of which have been committed to our success for a very long time.”

NCB provides comprehensive banking products and services to cooperatives, their members, and other member-owned organizations throughout the country. What makes NCB unique is that the bank and its holding company were built to address the financial needs of an underserved market niche – people who join together cooperatively to meet personal, social or business needs.

Media Contacts

#### Mary Alex Blanton

Senior Vice President  
[703.302.8876](tel:7033028876)

#### Heather Cummings

Vice President  
[937.393.6429](tel:9373936429)

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