Marianna, FL-Farm Credit of Northwest Florida customers recently received a pleasant surprise in the mail. They received a check for the revolvement of prior years’ Allocated Surplus. As a rural lending cooperative, Farm Credit of Northwest Florida shares their profits with customers.
Chariman of the Board of Directors, Richard Terry, stated “This distribution is a demonstration of the financial strength of our cooperative. We are proud to be able to share these earnings from prior years, which have been held as capital, with the customers who helped to generate them.”
Farm Credit of Northwest Florida is part of the nationwide Farm Credit System, providing financing for agriculture, timber operations and businesses related to farming. Additionally, Farm Credit specializes in lending for rural land and homes, whether for purchases, refinances, improvements or construction. Farm Credit of Northwest Florida serves all 18 counties in the Florida panhandle. For more information about the types of financing available or how Farm Credit shares profits with customers, visit us at www.farmcredit-fl.com.
“Customers use these funds for everything from saving for children’s college funds to investing back into their communities,” states Rick Bitner, Chief Executive Officer. Mr. Bitner added, “It is satisfying to help customers who want to live a rural lifestyle. Farm Credit lenders provide answers to rural life questions, offer loan products designed for life in the country such as long-term fixed interest rates and no acreage limitations, and connect people with other rural industry resources.”