Business: Farm Credit returns nearly $1 million to farmers
Farm Credit Illinois credited interest charged on operating loans during November back to the loan for more than 2,800 members, accumulating a near $1 million of total interest credit.
This special “Season of Gratitude” program was automatically applied to existing FCI operating loans on balances up to $250,000. FCI members holding operating loans can look to their December statements for this sign of thanks for their cooperative membership.
Farm Credit Illinois is a farmer-owned and -directed agricultural lending cooperative serving 8,500 farm families, agribusinesses, and rural landowners in the southern 60 counties of Illinois with competitive and flexible financing and crop insurance expertise. The Association manages a $4 billion loan portfolio, sells 1.4 million acres of crop insurance coverage, and employs 210 staff based in the Mahomet central office and 14 regional office locations. The U.S. Farm Credit System supports rural communities, farm families, and agriculture with reliable, consistent credit and financial services today and tomorrow.
“Farm Credit Illinois appreciates each farm family, rural landowner, and agribusiness who comprise our cooperative membership,” says Tom Tracy, FCI president and CEO. “With a cooperative spirit in this season of gratitude, we are proud to give back a portion of the year’s success with our members.”
Farm Credit to host crop insurance meeting
What: Experts present on updates to crop insurance and give perspective on farm markets for 2016 during a dinner meeting.
Who: Kent Reid, Farm Credit Illinois chief appraiser, and Darin Grotefendt, Farm Credit crop insurance specialist
When: Thursday, Jan. 26 from 6 to 8 p.m. (dinner with meeting to follow)
Where: Knights of Columbus Hall, 12454 Illinois Route 143 in Highland
Why: Crop insurance is the most comprehensive tool available for farmers’ risk management strategy. The winter update meetings help to inform members as they select the appropriate plan for their operation while balancing costs.
RSVP: Online at www.farmcreditil.com/highlandupdate by Jan. 24.
This story was originally published January 22, 2016 at 3:34 AM with the headline "Business: Farm Credit returns nearly $1 million to farmers."