FAQs

What does it mean that Land Bank of North Mississippi is cooperatively owned?

Everyone obtaining a loan through the Land Bank of North Mississippi becomes an owner of the association through the purchase of stock equal to 2 percent of their loan amount. Funds for the stock can be included in the loan. Ownership of this stock gives you the right to participate in the business affairs of the association, including election of the board of directors. Typically, the financial performance of the association allows borrowers to be paid patronage and/or dividends, which further reduces the cost of borrowing for our customers.

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