August 2010

New Board Members Elected at Annual Stockholders' Meeting

A record crowd packed the Legends Marriott ballroom for this year’s Annual Stockholder’s Meeting. Board Chairman Thomas Dozier III and CEO Douglas Thiessen presided over the meeting, which focused on the association’s hard work and accomplishments during 2009.

More than 100 stockholders were on hand as the meeting was called to order. This year’s meeting featured the election of two new members to the Alabama Ag Credit Board of Directors: businessman Lyman W. Ramsay, Jr., and forestry consultant Larry H. Gibson, Jr.

Ramsay, 66, resides in Grand Bay, Ala., and is the owner and manager of Gulf Equipment Corporation, a general contracting company. His current timber operation consists of 1,100 acres, and he owns 400 acres of rented pasture land. He currently serves on the board of directors of Gulf Equipment Corporation, Crowder-Gulf, Manning Trucking and Manning Construction companies.

In addition, Ramsay is a former supervisor of the Mobile County Soil and Water Conservation District and a member of the Alabama Farm Bureau and Mobile County Cattlemen. He serves as vice president of Grand Bay Cemetery Association. Ramsay obtained his bachelor of science in agronomy and soils from Auburn University.

Ramsay said he is ready to get to work and hopes to bring new energy and ideas to the board of directors.

“Thanks to all the stockholders who encouraged and supported my election to the board,” Ramsay said. “I look forward to contributing to the future growth and strength of Alabama Ag Credit.”

Mr. Gibson, 37, of Aliceville, Ala., is president of Gibson Forest Management, a forestry consulting firm. A graduate of Mississippi State University with a bachelor’s degree in forest management, he owns approximately 1,000 acres of timberland, where timber and wildlife are the primary commodities. Gibson manages approximately 40,000 acres of timberland for clients in West Alabama and East Mississippi where he provides complete forest management services.

Gibson is a former board member of the Alabama Forestry Association, past state chair of the Society of American Foresters, and was a participant in the Farm Credit Young Leaders Program. He currently serves on the Board of Alabama Farmer’s Federation for Pickens County and on the Board of Pickens Academy. He is a current member of the Association of Consulting Foresters, Rotary International and a trustee at Hebron United Methodist Church.

March 2010

Association Gives Back to Customers
Millions are put back into state economy

MONTGOMERY - Alabama Ag Credit, ACA, the premier ag-lender in Alabama, is pleased to announce an ALL-CASH patronage payout of $3,000,000 to its customers/stockholders.

Due to the excellent financial position of the Association, the Board of Directors voted to return this cash payment to our customers from 2009 earnings. This patronage payment not only benefits customers by giving them cash, it also effectively lowers their interest rate by one half of one percent.

"This cash distribution not only benefits the customer, it also benefits our local communities," said Douglas Thiessen, CEO. "Customers can spend this distribution however they wish, whether it be new farm equipment, paying bills, put into savings, or shopping in our local stores. Since 1996 we've sent back $30 million in cash to the people of central and south Alabama, and we're very proud of this."

For more than 90 years, Alabama Ag Credit (formerly the Federal Land Bank Association of South Alabama) has been a reliable source of financing for Rural America. Alabama Ag Credit is a $660 million customer-owned cooperative that provides courteous, accurate service through a well-trained, highly motivated staff. Alabama Ag Credit offers a wide variety of loan programs at competitive rates including agricultural and recreational real estate, rural homes, operating, and agribusiness loans. Alabama Ag Credit's administrative office is located in Montgomery with credit offices located in Demopolis, Dothan, Enterprise, Loxley, Monroeville, Opelika, Selma and Tuscaloosa.

Since the Farm Credit System was established in 1917, Alabama Ag Credit has always had a mission to provide access to competitive credit for creditworthy borrowers from the agricultural industry and rural America.