Release date: 7/14/2016
STATESVILLE, NC – On Sunday, July 17th, The Farm Credit Associations of North Carolina will celebrate 100 years of service to the rural and agricultural population of North Carolina, Vance Dalton, Carolina Farm Credit President and CEO, announced today.
AgCarolina Farm Credit, Cape Fear Farm Credit, and Carolina Farm Credit are part of the nationwide Farm Credit System. The three associations, with headquarters in Raleigh, Fayetteville, and Statesville, respectively, provide sound and consistent sources of credit and financial services to North Carolina’s rural communities. With 55 branch locations throughout the 100 counties of North Carolina, Farm Credit has proudly served the rural communities from Murphy to Manteo for the past 100 years.
“The state of North Carolina has long been known for its rural communities, as well as for being a worldwide leader in producing agricultural commodities. Our fertile soils produce many of the foods we eat and the clothes we wear,” states Carolina Farm Credit President and CEO, Vance Dalton. “For Farm Credit to reach the milestone of 100 years of service, we must acknowledge and thank each of our member-borrowers throughout the state of North Carolina for choosing to partner with Farm Credit for their credit needs. Whether providing funds for agricultural purposes, equipment, home mortgages, or leasing, Farm Credit’s mission will remain to enhance the quality of life for those in the rural communities of North Carolina by providing exceptional value and service for the next 100 years.”
On July 17, 1916, President Woodrow Wilson signed legislation creating the Federal Land Bank System and paved the way for sound financing for rural communities. Over the course of the last 100 years Farm Credit has continued to be a constant in the rural communities not only in North Carolina, but throughout the entire United States. The farmer owned cooperative takes pride in putting profits of the organization back into the pockets of member-owners through patronage dividends returned annually.
The Farm Credit Associations of North Carolina invite you to learn more about the member-owned cooperative servicing your area of the state by visiting their website.
The Farm Credit Associations of NC are AgCarolina Farm Credit, Cape Fear Farm Credit, and Carolina Farm Credit. They are farmer owned financial cooperatives with headquarters in Raleigh, Fayetteville, and Statesville respectively. They are the leading provider of credit to farmers in North Carolina. The Associations have over $3.6 billion in loans and commitments outstanding to over 14,500 North Carolina farmers. Loans are made to finance land, homes, farm buildings, operating expenses, livestock and equipment, as well as other purposes. Credit life insurance, crop insurance, appraisal services, and leasing are also available through the Farm Credit Associations of NC.
Carolina Farm Credit serves over 9,200 members with loans outstanding totaling more than $1.4 billion. The association’s territory covers the western half of North Carolina, with branch offices located in Albemarle, Asheboro, Asheville, Boone, Browns Summit, Burnsville, Carthage, Concord, Conover, Ellerbe, Graham, Hendersonville, Jefferson, Lenoir, Lexington, Lincolnton, Monroe, Murphy, Pilot Mountain, Roxboro, Rural Hall, Salisbury, Shelby, Siler City, Sparta, Spindale, Statesville, Taylorsville, Waynesville, Wilkesboro, Yadkinville, and Yanceyville.
Carolina Farm Credit was recognized as a 2015 Best Employer in North Carolina. The list of the Best Employers in North Carolina was created by Business North Carolina, the Society for Human Resource Management (SHRM) – NC State Council and Best Companies Group.
Directors for Carolina Farm Credit are L. Kim Starnes, Chairman, Salisbury; W. Rex Bell, Vice-Chairman, Statesville; John M. Barnard, Statesville; E. Bernard Beck, Seagrove; Mark A. Bray, Lawsonville; David M. Coltrane, Pleasant Garden; Susie J. Gambill, Sparta; Joseph A. Lail, Shelby; Clark M. Newlin, Haw River; Thomas E. Porter, Jr., Concord; Tony L. Ragan, Sanford; D. Kaleb Rathbone, Waynesville; Lewis E. Smith, Lincolnton; Vickie N. Smitherman, East Bend; Dr. Alton Thompson, Summerfield.
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