Contact: Karen Blatter(309) 268-0254
Illinois Ag Lender Reports Strong 2009
NORMAL – 1st Farm Credit Services, Illinois’ largest agricultural lender, had continued growth and success in 2009.
The Normal-based association ended 2009 with more than $500 million in capital, strong earnings, increased patronage paid to stockholders and continued growth in the number of clients served, loan volume and crop insurance acres insured.
"Our success is a testament to Illinois agriculture," said Gary J. Ash, the association’s President/CEO. "With all the volatility and challenges presented in 2009, Illinois farmers and 1st Farm Credit Services prevailed."
View Full 2009 Annual Report
Information about the association’s 2009 results were released in the 2009 Annual Report. More than 10,000 clients in the northern 42 counties of Illinois are served by the association through 16 branch locations.
This year’s Annual Report: Principles with Passion focuses on the seven principles of the cooperative business structure.
"Today, 1st Farm Credit Services remains true to its cooperative heritage," Ash said. "We’re a financial institution that is quite unique from other institutions you see throughout Illinois. As a cooperative, our stockholders are our client-owners and our board members are elected among the owners. Our mission is to serve one industry – Agriculture."
The annual report can be viewed online, 2009 Annual Report.
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 16 local offices.
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