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

Everyone obtaining a loan through Mississippi Land Bank becomes an owner of the association through the purchase of stock. The amount of stock depends upon the type loan and the loan amount. Funds for the stock can be included in most loans. Ownership of this stock gives you the right to participate in the 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. From 2004 through 2009, Mississippi Land Bank has returned $15,052,995 to our member-borrowers.

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