| DECATUR – 1st Farm Credit Services has worked with farmers in Illinois to save them more than $6 million, by taking advantage of lower interest rates to adjust the terms of their loans.
During the past 12 months, more than $660 million in loans were reviewed and adjusted to new and lower interest rates. The $6 million in savings is what clients would have paid in additional interest if the loans continued without changes.
“In today’s economy, every dollar makes a difference and we worked with clients to make sure they were getting the most for their money,” said Gary J. Ash, CEO/President of 1st Farm Credit Services. “We appreciate our clients and do what we can to make sure they thrive in today’s agriculture environment.”
The savings are a reflection of the general interest rate environment, and the association passed those savings onto clients, Ash said. The total savings to eligible loan clients has occurred during the last year.
Vice Presidents and Financial Specialists at 1st Farm Credit Services periodically contact clients who are eligible for adjusted loans and other options that may result in a savings. Clients with questions about their interest rates should contact their local branch.
Working with experts who are dedicated to doing what is best for clients, is one more reason to make 1st Farm Credit Services a partner in agriculture.
As an additional “thank you” to clients, 1st Farm Credit Services, along with Farm Credit Services of Illinois, are offering daily free concerts at the Farm Progress Show. |