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Wednesday, January 13, 2010

Bright Forecast Predicted for ArborOne Farm Credit Customers

Florence, SC (December 7, 2009) – ArborOne Farm Credit, an agricultural lending cooperative, today announced the retirement of $1.39 million of the 2001 Surplus held by the company to be paid to its member-customers. ArborOne Farm Credit is forecasting over $4 million in net earnings for 2009.

As a member of the Farm Credit System, ArborOne is a member-owned cooperative which means our customers are our owners. We return a percentage of our profits to our member-customers through patronage refunds. The ability to pay these patronage refunds is a key indicator of the financial strength of ArborOne Farm Credit. Patronage has been paid every year since 1988. A portion of this patronage is paid in cash and the balance, or surplus, is left on account to capitalize the association. The revolvement of $1.39 million in Surplus represents the balance held from 2001.

"The downturn in the general economy impacted the entire financial industry this year and as such we were not immune, however our earnings are better than we anticipated earlier in the year," said ArborOne Farm Credit President Jack Shuler. "The association remains financially strong, weathering this economic storm and has credit available to farmers, agricultural business owners, landowners and other rural borrowers."

About ArborOne Farm Credit
ArborOne Farm Credit is an agricultural lending cooperative owned by its member-borrowers. It provides farm loans for land, equipment, livestock and production; recreational property loans; crop insurance; and rural home mortgages. 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. For more information, visit www.ArborOne.com.

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