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Wednesday, May 4, 2011

ArborOne Mails Checks Exceeding $1 Million to Customers

ArborOne Farm Credit is celebrating a profitable 2010 by distributing more than $3.4 million in profits to its member-customers. The member owners of ArborOne 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 month of April, more than 1,200 customers received checks reflecting over $1 million dollars or 20% of the interest that accrued on their loans in 2010. More simply: for every $1.00 of interest that accrued on a loan, ArborOne refunded 20 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,” said 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 800.741.7332, log on to 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
An agricultural lending cooperative, ArborOne Farm Credit is owned by its member-borrowers and provides loans for land, equipment, livestock and production; recreational property; 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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