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Louisiana Ag Credit Distributes $250,000 in Patronage to CustomersLouisiana Ag Credit customers recently received patronage refund checks totaling $250,000. The board of directors approved the patronage payment based on the association’s 2008 earnings. This was the fifth consecutive year that the lending cooperative has returned a cash patronage to its borrowers, bringing its five-year patronage total to $1.5 million. This year’s patronage checks were mailed to customers in late March. “Patronage is an important part of doing business with Louisiana Ag Credit,” said Jim Smith, Louisiana Ag Credit chief executive officer. “As a cooperative, we are owned by our borrowers. Every year, the board reviews the financial results and decides how much of the association’s earnings need to be maintained as capital to fund growth and operations. The rest is returned to our borrowers.” Patronage payments effectively lower the interest paid by customers. They are a key benefit of doing business with a cooperative like Louisiana Ag Credit. Farmerville & Shreveport Employees Receive Recognition for FFA Support
FFA relies greatly on donations from businesses like Louisiana Ag Credit, ACA to supply awards, scholarships, competitions, etc to support the organization. This year they had a larger number of FFA members that were able to compete and receive awards and scholarships with our help as well as others. FFA is a national organization that helps shape young people to become the future farmers and agricultural customers that assures LAC and our sister organizations’ future. The ability to give to an organization that has so many agricultural opportunities and leadership is just one more step to doing our part in making sure the agriculture industry continues to grow and prosper. Read the latest news and association highlights in the Landscapes magazine. |
Angie Simpson, Loan Officer with the Farmerville Branch Office and Nicki Wadsworth, Loan Processor with the Shreveport Branch Office, (she is also a past FFA member and State Vice President of Area 1), receive a Certificate of Appreciation and a plaque for Louisiana Ag Credit’s Support of the FFA Foundation, from Mr. Newton (Track) Kavanaugh, Chairman of the Board, Louisiana FFA Foundation.  |
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