---
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.
---

[Stay up to date with recent news from National Cooperative Bank ](https://www.ncb.coop/press-releases)

# [National Cooperative Bank Issues Largest Patronage Refund in Its History](https://www.ncb.coop/press-releases/national-cooperative-bank-issues-largest-patronage-refund-in-its-history)

 Written by [National Cooperative Bank](https://www.ncb.coop/press-releases/author/national-cooperative-bank) | Sep 7, 2022 1:25:52 PM

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.

[View full post](https://www.ncb.coop/press-releases/national-cooperative-bank-issues-largest-patronage-refund-in-its-history)

```json
{
  "@context" : "http://schema.org",
  "@type" : "BlogPosting",
  "author" : {
    "@type" : "Person",
    "name" : "National Cooperative Bank"
  },
  "dateModified" : "2022-09-07T13:25:52.654Z",
  "datePublished" : "2022-09-07T13:25:52Z",
  "headline" : "National Cooperative Bank Issues Largest Patronage Refund in Its History",
  "image" : {
    "@type" : "ImageObject",
    "height" : 376,
    "url" : "https://impact.ncb.coop/hubfs/NCB%20WMBC%20Logo%20-%20Featured%20Image.png",
    "width" : 501
  },
  "mainEntityOfPage" : "https://www.ncb.coop/press-releases/national-cooperative-bank-issues-largest-patronage-refund-in-its-history",
  "publisher" : {
    "@type" : "Organization",
    "logo" : {
      "@type" : "ImageObject",
      "height" : 60,
      "url" : "/hs/hsstatic/content_shared_assets/static-1.4092/img/default-amp-logo.png",
      "width" : 60
    },
    "name" : "Press Releases"
  }
}
```