AgGeorgia issues patronage checks

Local News

Discussion

April 4, 2009

Staff Reports The Moultrie Observer Sat Apr 04, 2009, 10:50 PM EDT

MOULTRIE — Member-borrowers of AgGeorgia Farm Credit received patronage refund checks for 2008 in April, Area Manager Ray Hendrick announced Tuesday.

The patronage refund for borrowers of AgGeorgia Farm Credit will total nearly $17.1 million. Thirty percent, or $5.1 million, of the refund was paid in cash. The balance was placed in surplus accounts allocated in the names of individual member-borrowers to be revolved at the direction of the board at a later date.

“AgGeorgia Farm Credit had another successful year in 2008,” Frank Wright, chairman of the AgGeorgia Farm Credit board and farmer from Talking Rock, said, “and we are pleased to be able to share our success with our borrowers, to put our profits in their pockets. This is the 21st consecutive year we’ve paid a patronage refund. Since 1988, AgGeorgia Farm Credit has returned a total of $249 million cash to its member-borrowers through patronage refunds and surplus revolvements.”

“When we distribute our profits to our borrowers, it reduces their effective cost of borrowing,” William Newberry, AgGeorgia President, said, “and it proves that there are distinct financial benefits in doing business on a cooperative basis.”

AgGeorgia Farm Credit, a farmer-owned cooperative, makes long-term farm and country home loans, intermediate-term loans for machinery, equipment and buildings and short-term production loans. Other financial services available through AgGeorgia Farm Credit are credit life insurance, crop insurance, appraisal services and leasing programs.

On Dec. 31, AgGeorgia Farm Credit had approximately $1.1 billion of loans outstanding to more than 3,900 members. AgGeorgia Farm Credit has 20 branch offices and serves 79 counties in the state, including a Moultrie branch office located at 22 Fifth Ave. S.E.

Text Only

Local News

Bingo Bash 2012
February 3, 2012 1 Photo
Former Moultrian falls to his death
A former Moultrian died Wednesday night after being pushed from a second-story walkway at his apartment complex in Bellingham, Wash., the previous day.

February 3, 2012
Convicted burglar sentenced to 14 years in prison
A man convicted in December on burglary and theft charges was sentenced Friday to a 14-year prison sentence.

February 3, 2012
Fires damage two homes
Stove fires damaged two homes this week, but no injuries were reported in either incident, Moultrie Fire Department reports said.

February 3, 2012
C.A. Gray Technology Fair winners
February 3, 2012 1 Photo
Drug charge added when police arrest theft suspect
A Meigs man charged with theft faces additional charges as suspected marijuana was found on him at the time of his arrest, Moultrie Police Department reports said.

February 3, 2012
CORRECTION: DUI charge
In a Jan. 28 report, The Observer said Ronald Craig Bass, 50, 4411 Dunn Road, Hartsfield, was charged Jan. 26 with driving under the influence, open container violation and probation violation in connection with a minor wreck on Camilla Highway. Excluding the probation violation charge, that information came from a Moultrie police report of a November 2001 incident.
Bass was charged with probation violation Thursday because all the penalties from the 2001 incident had not been paid. He paid the remaining penalties following his arrest, according to a Moultrie police report.
The Observer regrets the error.

February 3, 2012
Peanut Commission Research Report Day will be Feb. 8
The Georgia Peanut Commission will hold the annual Research Report Day Wednesday, Feb. 8, beginning at 9 a.m. at the National Environmentally Sound Production Agriculture Laboratory (NESPAL), located on the University of Georgia Tifton campus. The event provides growers and industry representatives an opportunity to hear the latest reports on research projects funded by GPC in 2011.

February 3, 2012
Boy Scouts help the needy with Scouting for Food program
Scouts of the Suwannee River Area Council, Boy Scouts of America will be collecting food today to help the hungry in the council’s 13-county service area, which includes Colquitt County.

February 3, 2012
Jury duty
February 3, 2012
More Local News Headlines

Should candidates for county positions have to run for a party's nomination?

Local News

Search Results

Discussion

AgGeorgia issues patronage checks

Should candidates for county positions have to run for a party's nomination?

Site Map

Contact Us