NEWS

1st Farm Credit Services Grows in 2010

Staff Writer
Aledo Times Record

1st Farm Credit Services, Illinois’ largest agricultural lender, has reported a record-setting financial year for 2010.

The Normal-based cooperative reports that by the end of 2010, the association grew by more than $533 million in assets, $73 million in capital and added new crop insurance coverage to more than 51,000 acres of land.  

“The association has been successful increasing market share in loans, crop insurance and real estate fee appraisal services, increasing our capital levels and lowering the average cost of borrowing for our clients,” said Gary J. Ash, the association’s president/CEO. “We greatly appreciate the relationship we have with all our clients, and our team stands ready to serve Illinois agriculture in 2011.”

The association’s financial results for the year were recently released in the 2010 Annual Report. More than 10,000 Illinois farmers and agribusinesses in the northern 42 counties of the state rely on the financial services provided by 1st Farm Credit Services.

“As a farmer-owned cooperative, 1st Farm Credit Services has a vested interest in the success of all of our stockholders,” Ash said. “Part of our mission is to provide sound and constructive financing.”

The annual report can be viewed online at www.1stfarmcredit.com.