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NORMAL –
NORMAL – 1st Farm
Credit Services ended the first half of 2008 with record
numbers and client satisfaction.
The association surpassed $3
billion in loans and lease volume owned and managed,
according to the association’s stockholder quarterly report
released on July 31.
As of June 30, the
association’s loan volume totaled $2.4 billion, along with
another $654 million of loans participated to AgriBank, FCB.
This represented about $1 billion in growth during the past
18 months.
“Reaching $3 billion in owned
and managed loans and leases is a milestone for our
association,” said Gary J. Ash, President/CEO of 1st
Farm Credit Services. “The number reflects the strong
agriculture economy and our dedication to serving the needs
of rural America. We remain the largest agricultural lender
in Illinois.”
Net income for the first six
months of 2008 was $21.5 million as compared to $17.3
million for the same period one year ago.
Results of the annual client
survey showed that 98 percent are “satisfied” or “very
satisfied” with the services received from the association.
Also, almost all clients surveyed said they would recommend
1st Farm Credit Services to a friend or
colleague.
“The 1st Farm
Credit Services team members were able to maintain the high
overall satisfaction rating during 18 months of heavy levels
of loan activity,” said John Baylor, Chairman of the Board
of Directors. “As we reviewed the individual comments from
clients, it is clearly apparent the reason for these high
ratings is because of our team members.”
1st
Farm Credit Services leads the industry in agriculture
loans, risk management products and various services such as
crop insurance, loan and lease options, as well as
agricultural real estate appraisals. The cooperative serves
42 counties in the northern half of Illinois through its 18
local offices.
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