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Thursday, April 12, 2012

Every Dollar Counts

Every dollar counts. And on March 31, 2012, ArborOne Farm Credit put dollars back in their customers’ pockets. It’s called patronage and it’s the best deal going.

Since 1988, ArborOne has returned more than $94 million dollars in total patronage distributions to customers. This patronage refund represents approximately 22.5 percent of the interest that accrued on a customer’s loan in 2011. In other words, for every $1.00 of interest that accrued on that loan, ArborOne is refunding 22.5 cents. The patronage distribution is comprised of fifty-one percent Qualified Surplus Allocated with the remaining forty-nine percent in Non-Qualified Allocated Surplus. Approximately thirty-seven percent of the total distribution of Qualified Surplus Allocated will be paid out in cash with the remaining providing capital to the Association to be revolved in future years. ArborOne operates as a cooperative. Their customers are member-owners. The Board of Directors is made up of customers elected by customers.

“Farmers and farm businesses in the Pee Dee Region of South Carolina count on ArborOne to provide dependable credit and competitive interest rates,” said Mickey Ward, Chairman of the Board of Directors. “We’re pleased to be able to consistently return money to our customers, even in tough economic times.”

“On-the-farm service and knowledge of agriculture and agribusiness distinguishes ArborOne Farm Credit as the premier agricultural lender in the Pee Dee region. Agriculture is our core business,” said Kathy Heustess, President and CEO, “and our cooperative structure allows us to pay a patronage refund to our borrower/owners, reducing their overall cost of financing.”

Headquartered in Florence, South Carolina, ArborOne Farm Credit helps maintain and improve the quality of life in rural America and on the farm, through its constant commitment to competitive lending and expert financial services. ArborOne is well-capitalized and ready to lend.

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