It is our goal to operate efficiently, profitably and manage risk in a manner that will enable us to return a portion of earnings to our customers
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(Vocus) April 1, 2010
2009 was another profitable year for Arbor One Farm Credit. And ArborOne is sharing over $3.7 million in profits with its member-customers. The member owners of ArborOne Farm Credit are not haunted by the ghost of 2009; instead they are reaping the rewards of doing business with the local Farm Credit as a recipient of a patronage refund. Thirty percent of this patronage refund is paid in cash with the remaining seventy percent placed in a surplus account in each customer’s name.
During the last week of March, more than 1,200 customers will receive checks reflecting over $1.1 million dollars or 20% of the interest that accrued on their loans in 2009. More simply: for every $1.00 of interest that accrued on a loan, ArborOne is refunding 20.43 cents.
“It is our goal to operate efficiently, profitably and manage risk in a manner that will enable us to return a portion of earnings to our customers,” stated Jack Shuler, President and CEO. ArborOne has been paying patronage refunds for over 20 years.
For more information on how you can become a member-customer, call ArborOne Farm Credit at 1.800.741.7332, log on to http://www.ArborOne.com, or visit us at either our Florence (800 Woody Jones Blvd) or Conway (900-C, Suite A, Main Street) offices.
About ArborOne Farm Credit
ArborOne Farm Credit is an agricultural lending cooperative owned by its member-borrowers providing farm loans for land, equipment, livestock and production; recreational property loans; crop insurance; rural home mortgages and rural America bonds. It is part of the national Farm Credit System, a network of financial cooperatives established in 1916 to provide a dependable source of credit to farmers and rural America. ArborOne covers the twelve counties of the Pee Dee region of South Carolina.
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