Alabama Ag Credit – A Success Story
Achieving a personal or professional goal is extremely satisfying – especially when it has significant meaning to us. After all, that is the definition of success and is something to be celebrated.
I’m pleased to report that we have something to celebrate at Alabama Ag Credit once again. Earlier this year, we crossed the milestone of $1 billion in total assets for the first time in the history of the association, and almost all of that is composed of loans to customers. That amount is in itself a great achievement, but it also represents so much more.
At Alabama Ag Credit, we set goals across many areas of our operation so that we can judge how well the association is doing as well as how individual employees or even teams of employees are performing. By setting these goals, we can focus the efforts of our entire team and consequently evaluate whether we have been successful with our time and resources.
So what does achieving $1 billion in assets represent? Three main points come to mind:
- First, it shows growth, as we have almost doubled in size in just over 10 years – and none of that growth is from mergers or acquisitions of other institutions.
- Second, it represents thousands of customers who are involved in timber, rural land and housing, and a variety of commodities including row crops, livestock, catfish, vegetables and much more. These customers may have farmed all their lives; they might just be getting started (like New Reef Oyster Company, featured in this magazine); or they may simply want their own place in the country. We are glad to help them achieve their own goals and desire to succeed.
- And third, it illustrates an ongoing commitment by an entire team of employees and board members who are passionate about our mission of providing credit to rural communities and agriculture.
It is important to remember, however, that success is fleeting, and we can never rest on our laurels. Further, we have a responsibility to leverage our accomplishments to help others, just as Alabama Ag Credit has done in the case of Two Rivers Lumber Company, featured in this magazine. Thanks to our financial strength, we were able to help the Two Rivers founders achieve their goal of starting a lumber mill in western Alabama. Better yet, the local community in turn benefited from the company’s success through the creation of almost 100 paying jobs.
I’m proud of our team at Alabama Ag Credit and all that it has accomplished. I’m even more proud of how our team leverages our success to help others to realize their goals and dreams. I hope you will tell all your family and friends about our lending cooperative, so that we can continue to celebrate new and even greater milestones in the future.
Chief Executive Officer