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Tuesday, September 23, 2014
September 2014 President's Message
Fall is a time to assess how the year has gone thus far
and to begin planning for the next year.
Carolina Farm Credit is having a successful year again in 2014. Earnings are above projections and above this
time last year. Our business planning
process has started and we are excited about serving our membership for years
to come. As you reflect back on your year and your planning process, it is a good time to plan a visit with your
loan officer. They can help you chart
your financial progress and set goals for the future. As the saying goes, “Failing to plan is
planning to fail.”
Fall also brings about the election of your Carolina Farm
Credit directors. Steve Love of Alamance
County has announced that he is retiring from the board and will not seek
re-election as his term expires this year.
As part of the board’s plan to reduce its size, Mr. Love’s seat will not
be filled. He has been an excellent
director for the past ten years and we are truly grateful for the leadership
Mr. Love has provided to our association. We wish for him the best for years to
come. Therefore, only one position will
be up for election this year. You should
have received your 2014 Annual Meeting Information Statement in the mail last
month and ballots were recently mailed to all voting stockholders. Please take time to complete the ballot and
return by mail. This is your opportunity
to have a say in how your cooperative is governed. Polls close on October 1st.
Our branches are planning for our fall customer
appreciation events to take place during the month of October. Please be looking for your invitation and
make plans to attend. Your board has
approved the revolvement of allocated surplus this fall and the checks will be
distributed at the branch events. These
events provide an opportunity for us to show our appreciation for you doing
business with Carolina Farm Credit and give you an opportunity to enjoy good
food and fellowship with your friends and neighbors.
It was our good fortune to have four great interns that
worked in various branches throughout the summer. Keshawn McDaniel, a graduate student at NC
A&T University worked in Salisbury; Alex Stott, a rising senior at NC State
University worked in Hendersonville; Trey Waugh, a rising senior at Appalachian
State University worked in Wilkesboro and Kyle Williamson, a rising senior at
NC State University worked as an appraisal intern in Carthage. If you have not had a chance, take time to
read their blogs that are posted on our website chronicling their time with
us. These four individuals have bright
futures ahead of them and we are grateful we got to spend the summer with them.
Thank you for allowing us to be your lender and provider
of financial services. It’s a pleasure
to serve agriculture and the people in this industry!
Thursday, July 10, 2014
President's Message July 2014
Growing season is here and “growth” is always a focus for
Carolina Farm Credit. We see continued
growth in agriculture in this state and we want to grow to continue meeting
your financial needs. We recently offered
two opportunities to help our young, beginning and small farmers grow. In March, we held our 14th annual
Ag Leadership Institute. Twenty-seven
(27) participants from across our 54-county region attended an intense
three-day institute designed to help participants meet the challenges of
agriculture, while maintaining a healthy balance between business and
family. We also just completed our fifth
session of AgBiz Planner with 8 participants.
This program teaches financial management and business planning through
a college-level 10-module online course.
It also included two face-to-face meetings. The participants are partnered with a
Carolina Farm Credit loan officer as a mentor for the process. Both of these programs are focused on
positioning the participants to grow.
We recently held a conference for all of our support
staff in conjunction with the other two Farm Credit associations in North
Carolina. The conference featured
speakers on communication, business-friendly writing, personal financial
management, leadership and personal growth.
We are very fortunate to have a dedicated and competent support staff in
all of our offices that enables us to deliver a level of customer service that
exceeds expectations.
As a result of this focus on growth in agriculture,
growth of our customers, and growth within our employees, we have experienced
about 4% growth in our loan volume year-to-date. Thank you for your continued business and
support. Operating as a cooperative
allows us all to grow together to secure our future and the future of
generations to come.
Friday, March 21, 2014
President's Message February 2014
Carolina Farm Credit had another very successful year in 2013. While our annual report will be published next month that will provide the details, I am pleased to report that our final net earnings exceeded $40 million. This will allow us to return a significant portion of our earnings to you in the form of a patronage refund. We thank you for utilizing our products and services to meet your financial needs, which in turn allows our cooperative to be profitable and positioned to serve our membership into the future. I am also pleased to announce that we recently purchased a new building in Conover that will replace our existing Newton branch office. The building was formerly a bank branch and is being renovated to accommodate our staff and operations. The new building and location will allow us to enhance customer service and better meet the needs of our Catawba County customers. Located on Highway 70, it is both highly visible and much more accessible than our current location in Newton. We are very excited about this move that will take place later this spring. We are looking forward to the new opportunities 2014 will bring to you and Carolina Farm Credit. We recently implemented a convenient way for you to finance equipment purchased at participating dealers through Carolina Farm Credit. When purchasing new and used equipment this year, be sure to ask the dealer for Farm Credit Express financing. It will save you time and enable you to enjoy the same benefits that you receive for your other Carolina Farm Credit loans. Thank you for allowing Carolina Farm Credit to serve you and best wishes for a successful 2014.
Monday, September 23, 2013
President's Message September 2013
As we approach fall this the year, we come to a time when we
typically look toward harvest and begin to assess how the year has gone thus
far. We then begin to turn our attention to making sure we take care of tasks
and details that need to be accomplished to assure we finish the year strong.
2013 has been a very different year in many respects especially as it relates
to weather and rainfall. It seems that many years in the last decade or so we
have ended up having good growing seasons however, many times we needed rain at
critical stages throughout the entire growing season. In other words we were
one good rain from a disaster and we got just what we needed most of the time.
Well, 2013 has been a year when we have not wanted for moisture. If fact, it’s
been the exact opposite and most everyone I have talked to needed a drying out
period at some point during the season if not all season long. So it goes with
agriculture. Most people who are not involved in agriculture or do not live in
rural America have no idea of the risk farmers face each and every day.
Agriculture is one of the few businesses that are critically dependent on the
weather and the very thing that you must have to survive can come in abundance
and hurt more than it helps.
I write this at a time when America’s farmers and rural
communities need certainty about farm policy and our government officials can’t
agree enough to pass a new Farm Bill. In an historic vote the House of
Representatives failed to pass the Farm Bill that was brought to the floor for
a vote. Without a Farm Bill our government is asking our farmers to take on the
complete financial risk of ensuring that our Nation has an adequate supply of
food. As I am writing this piece, House
leadership has decided to split the farm bill into two separate bills, a farm
programs bill and a nutrition bill.
While there are varying opinions on whether this is good or bad, even if
a stand-alone Farm Bill is passed in the House, the differences with the Senate
Farm Bill that includes a nutrition component would still have to be negotiated
by conference committee and avoid a Presidential veto to become law. Regardless
of how it is accomplished, we are hopeful that clearer heads will prevail and a
new 5-year Farm Bill will be passed prior to the expiration of the current bill
at the end of September.
It is time again for our Director elections. This year we
have 2 director positions up for election and this is your opportunity as
members to have a say in how your cooperative is governed. You should have
received your 2013 Annual Meeting Information Statement and ballot in the mail.
Please make sure to return your ballot prior to the polls closing on September
30, 2013.
We are in the process of planning fall customer appreciation
events (CAEs) to be held in each of our local service centers during the month
of October. Your board has approved revolvement of allocated surplus this fall
and these checks will be distributed during the CAEs. Please be looking for an
invitation to your local CAE and make plans to attend. These events provide an
opportunity for us to show our appreciation to you for doing business with
Carolina Farm Credit.
Finally, July 2013 marked Farm Credit’s 97th
anniversary. In 2016 we will become one of the few institutions to reach 100
years in business. As we approach this
milestone, we will have an opportunity to reflect on how Farm Credit has been a
long-time business partner to farmers and the agriculture community in our
Country. It will also allow us to showcase our legacy of this successful
partnership, the strength of our cooperative ownership model and our unique
governance structure. Carolina Farm Credit is proud to be a member of the Farm
Credit System and more so, we are proud to serve you, our members in the
western half of North Carolina. Agriculture and Agribusiness continues stand
head and shoulders above all others as North Carolina’s number one industry.
Thank you for your efforts to Keep Agriculture and rural North Carolina Strong
and thank you for allowing Carolina Farm Credit to serve you and provide credit
and related services to meet your financial needs.
Monday, June 24, 2013
President's Message June 2013
Summer is again upon us and while it seemed that winter held on longer than usual this year, we finally get to the portion of the growing season where crops begin to move toward maturity. While our general economy continues to show signs of strengthening, agriculture continues to lead the way and provide much needed fuel for economic growth. Of course that should come as no surprise since agriculture and agribusiness continues to be North Carolina's largest industry providing over $77 billion in revenue to the state's economy.
We were very busy this spring at Carolina Farm Credit as I am sure you were on your farm. In March, we held our 13th Annual Agricultural Leadership Institute in Asheville. This year 29 participants, mostly young, beginning, small, and minority couples, attended from across our territory. This intense three day institute is designed to help the participants meet the daily challenges of modern agriculture while maintaining a healthy balance between family business, family life and personal life. We had a very diverse and extremely hard working group this year and it was evident from their participation and commitment that the future of agriculture in North Carolina is in good hands.
In addition, we have also completed our fourth session of the Ag Biz Planner Program. This program is also attended by young, beginning, small, and minority farm couples and teaches financial and management skills that provides a sound foundation for future success. In this college-level, 10 module, online course, each participant worked closely with a Carolina Farm Credit Loan Officer who was assigned as their mentor. In addition to the financial and management skills learned by the participants, each one had the opportunity to develop a strategic business plan for their farming operation. Carolina partnered with four other Farm Credit Associations across several states to create a diverse group and 32 participants completed the program.
Recently, Carolina Farm Credit was named one of the 2013 Best Employers in North Carolina by Business North Carolina magazine. We were named the 5th Best Employer in North Carolina in the small to medium-sized company category. We were evaluated using a two part survey process that looked at our business practices and culture and our employees were also surveyed to measure their satisfaction. It is certainly an honor to receive this recognition; however, it would not be remotely possible without the commitment and dedication of our employees who have a passion to serve you, our members, and North Carolina agriculture. Congratulations to each of our employees and members, because the relationships that you have created and nurtured created an environment that made this recognition possible.
Finally, at the end of last year I announced to our board of directors and our staff that I would retire from Carolina Farm Credit at the end of 2013. It's difficult to even think about leaving something that I love doing and have been doing for over 35 years. I am extremely grateful to have had the opportunity to serve you, our employees and agriculture during my tenure at Farm Credit. You are fortunate to have a board of directors who are forward thinking and have a continuous succession plan for the management of the association in place. The board has named Vance C. Dalton, Jr., who currently serves as Executive Vice President and Chief Operating Officer, as your new President and CEO effective upon my retirement. We will continue our leadership transition through the remainder of the year. I commend the board on an excellent decision and look forward to working closely with Vance and our management team to ensure a smooth transition at year-end.
Monday, February 25, 2013
President's Message February 2013
We are very fortunate to live in a part of our country where we actually experience 4 seasons. Now that winter is in full swing it reminds us that we have wrapped up another year on our farms, in our businesses and life in general. Our hope is that 2012 was a great year for you from all perspectives and that in this New Year you will find even more success. 2012 was another very successful year for Carolina Farm Credit. While our annual report that will be published next month will provide the details, I am pleased to report that our final net earnings exceeded $25 million last year. This will allow us to again return a significant portion of our earnings to you in a patronage refund. In fact, this will be our 25th consecutive year of paying patronage refunds to our members. You will hear more about this milestone throughout 2013 as we celebrate 25 years of paying patronage.
In April, we will again be holding customer appreciation events at each of our 36 service centers. While we never want to miss an opportunity to say thank you for doing business with Carolina Farm Credit, these events are a way for us to put feet to our words and show you our appreciation. What better way to say thank you than by serving you good food, taking time to sit and visit with you and hand delivering your patronage check. Please be looking for your invitation in the mail and make plans to join us at your local customer appreciation event in April.
We are looking forward to the opportunities that 2013 will bring to each of you, Carolina Farm Credit and agriculture statewide. We are grateful for our partnership with and for the opportunity to provide service to our membership, North Carolina Agriculture and rural America. Best wishes for a successful 2013.
Tuesday, January 29, 2013
President's Message - December 2012
Another harvest and fall season has come to an end. As we reflect back on 2012, we have again been blessed by an overall good growing season and the agriculture economy continues to do very well when compared to the overall general economy. As winter begins, we begin to look toward 2013 and make plans to better serve you, our customers, just as you plan for next year in your farming operation. We have just completed our fall customer appreciation events in all 36 service center offices. Thank you to those who took time to visit with us, pick up your surplus allocated check and enjoy a time of food and fellowship with our local service center employees. These employees do a great job planning these events to be something that you are proud of and enjoy attending each spring and fall. This gives us an opportunity to express to you our appreciation for doing business with Carolina Farm Credit and also allows us to emphasize the financial benefits of doing business with a cooperative.
We have just completed another successful food drive as a part of the NC Cooperative Council’s efforts to recognize co-ops and the positive impact they have on their communities. Cooperatives across the state joined together to collect food for those in need. This year employees and customers in our association collected over 5,000 pounds of food, which has been donated to food banks throughout our territory. Thank you for helping us make this food drive such a success. This allows us to give back to our local communities and ensure their success.
Our recent director election process has been finalized. I would like to take this opportunity to thank Mr. Herbert “Hub” Cheeks for his service on our board for the past three years. Mr. Cheeks served Carolina Farm Credit well, and was a very engaged board member during his term. I enjoyed working with Mr. Cheeks and would like to express our appreciation to him for his service to Carolina Farm Credit.
We would like to welcome Kaleb Rathbone as a new member of our Board of Directors. Mr. Rathbone was elected in Region One to serve a five year term. Mr. Rathbone is from Haywood County, and has a beef cattle operation. In addition to his farming operation, he is Superintendent for Mountain Research Station in Waynesville. We appreciate Mr. Rathbone’s willingness to serve on the board and look forward to working with him in the future.
Our new Brown Summit Service Center is in the final stages of construction, and should hopefully be completed by mid-December. We are excited to be upgrading our service center facilities for our Guilford and Rockingham county members and look forward to serving you at this location for many years to come. Thank you for continuing to utilize our products and services. Best wishes as we wrap up 2012 and for a successful 2013.
Labels: December 2012
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