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August 31, 2016
Borrowers who have teamed up with Farm Credit of the Virginias to tackle their lending needs are getting a healthy dividend check. Through a unique and growing patronage refund program, Farm Credit of the Virginias has refunded customer-owners the equivalent of two months of interest earned on their loans in 2015.
Second District Representative Alex Mooney, met recently with Alex Sowers, owner and operator of Windy Acres Farm in Augusta, WV and Farm Credit of the Virginias Board of Directors Vice Chairman, Donna Brooke-Alt to recognize agricultural lender Farm Credit for returning over $1.7 million to residents of his district.
“We are pleased that we have the ability as a cooperative with a 100-year legacy to support and strengthen the position of the American farmer and other agricultural businesses that this nation depends on for nourishing its families. Since 2001, Farm Credit of the Virginias has paid more than $198 million in patronage dividends to its customer-owners,” Board of Directors Vice Chairman, Donna M. Brooke-Alt.
Farm Credit of the Virginias provides over $1.8 billion dollars in financing to more than 11,000 farmers, agribusinesses and rural homeowners throughout Virginia, West Virginia and western Maryland. Farm Credit is a cooperative capitalized largely through investments made by farmers, ranchers and the rural homeowners and businesses that borrow from them. In fact, as part of a nationwide network they are the largest single provider of agricultural credit in the United States and have been for 100 years. Farm Credit helps maintain and improve the quality of life in rural America and on the farm through its constant commitment to competitive lending, expert financial services and for facilitating and sharing knowledge and resources through the Farm Credit Knowledge Center. For more information, visit www.FarmCreditKnowledgeCenter.com or www.FarmCreditofVirginias.com.
The Leader includes customer-owner feature stories, financial reports, local ag news and more.