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 FAQ 

Alabama Ag Credit: Mission-Driven, Member-Owned

Alabama Ag Credit’s support for rural communities and agriculture is rooted in a ground - up approach.

Today is International Cooperatives Day and as a cooperative, we are owned and governed by our customers. Their success drives every decision we make. And those decisions start with the board of directors. At the end of May we announced our board elections results and are excited to announce returning board member, Larry Gibson, was selected as the new chairman at the June 27th board meeting. Carl Sanders, previous chairman, will now serve as the association’s vice chairman.

Our elected board members are farmers and ranchers themselves and have a deep understanding of the challenges their fellow customer-owners face each day. That knowledge extends to the commitment they place on providing opportunities and special programs for young and beginning farmers, as these new producers develop business plans and work toward commercial viability.

In carefully managing the safety and soundness of the institution, board members also determine how best to distribute the net income our association earns each year.

That net income is only used in two ways: 1) retained within the association to build financial strength that ensures continued lending or 2) returned to our customer-owners by way of patronage, effectively lowering the cost of borrowing. In February, that meant returning $9.1 million to our borrowers in cash.

Cooperative ownership, it’s all part of what sets us apart from other financial partners. It’s the Alabama Ag Credit difference.

Alabama Ag Credit: Mission-Driven, Member-Owned

Alabama Ag Credit’s support for rural communities and agriculture is rooted in a ground - up approach.

Today is International Cooperatives Day and as a cooperative, we are owned and governed by our customers. Their success drives every decision we make. And those decisions start with the board of directors. At the end of May we announced our board elections results and are excited to announce returning board member, Larry Gibson, was selected as the new chairman at the June 27th board meeting. Carl Sanders, previous chairman, will now serve as the association’s vice chairman.

Our elected board members are farmers and ranchers themselves and have a deep understanding of the challenges their fellow customer-owners face each day. That knowledge extends to the commitment they place on providing opportunities and special programs for young and beginning farmers, as these new producers develop business plans and work toward commercial viability.

In carefully managing the safety and soundness of the institution, board members also determine how best to distribute the net income our association earns each year.

That net income is only used in two ways: 1) retained within the association to build financial strength that ensures continued lending or 2) returned to our customer-owners by way of patronage, effectively lowering the cost of borrowing. In February, that meant returning $9.1 million to our borrowers in cash.

Cooperative ownership, it’s all part of what sets us apart from other financial partners. It’s the Alabama Ag Credit difference.