Farm Credit of Northwest Florida Distributes $3 Million in Interest Rebates
NEWS RELEASE Marianna, FL: Farm Credit of Northwest Florida, a customer-owned lending cooperative announced in late March the distribution of $3 million in cash to their customers in the form of interest rebates. Since 1988, Farm Credit of Northwest Florida borrowers have received over $85 Million, and this year's cash distribution is especially rewarding for customers due to the challenging weather conditions and market uncertainties they've experienced.
Each year, the Board of Directors made up of farmers and business professionals look at the earnings of the cooperative and declare a dividend distribution. "Directing money back into the local economy remains at the forefront of our minds," states Richard Terry, Chairman of the Board of Directors. Farm Credit of Northwest Florida knows a little extra capital can make a big difference when buying equipment, building new structures and recovering from Hurricane Michael. "During difficult times it's important to work with people who understand your challenges" states Rick Bitner CEO/President of Farm Credit of Northwest Florida. "In addition to sharing profits with our borrowers, our lenders have extensive knowledge of agriculture and rural lifestyles. They help people reach sound decisions about buying land, a home in the country or improving their farm operation every day."
Farm Credit of Northwest Florida is part of the nationwide Farm Credit System, providing financing for agriculture, timber operations and businesses related to farming. Additionally, Farm Credit specializes in lending for rural land and homes, whether for purchases, refinances, improvements or construction. Farm Credit of Northwest Florida serves all 18 counties in the Florida panhandle. For more information about the types of financing available or how Farm Credit shares its profits with customers, visit www.GoRural.net