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January 2010
Federal Land Bank is Now Alabama Ag Credit
MONTGOMERY, Ala. — Farmers and land owners in South Alabama have a new choice for operating and equipment loans — from a lender they’ve trusted for more than 90 years.
The Federal Land Bank Association of South Alabama is now called Alabama Ag Credit, ACA and will offer short- and intermediate-term financing in addition to land and mortgage loans. The cooperative association’s new name reflects its new status as an agricultural credit association (ACA).
In September 2009, stockholder-owners of the cooperative association voted to approve the conversion to an ACA so that the association could broaden its lending authorities. Alabama Ag Credit will continue to finance and refinance rural real estate, timberland and recreational land purchases and improvements. The association will now additionally offer loans for equipment and operating expenses, such as seed, feed and livestock purchases.
“Our association is not merging or being acquired. We are a very strong financial institution and we are excited about growing even more with this new opportunity,” said Thomas Dozier, Chairman of the Alabama Ag Credit Board of Directors. “You will still find the same friendly people to work with and the same land financing experts. Only now we have even more to offer our stockholder-owners.”
Alabama Ag Credit finances farmers, rural landowners and agribusiness owners throughout South Alabama. The association is headquartered in Montgomery and has nine branch offices in Demopolis, Dothan, Enterprise, Loxley, Monroeville, Montgomery, Opelika, Selma and Tuscaloosa. It is part of the nationwide Farm Credit System, the nation’s largest lender to rural America.
June 2009
FLBA Steps Up To Support Young Farmers
Area Students Benefit From Donation
MONTGOMERY - The FLBA of South Alabama, FLCA, the premier ag-lender in Alabama, hosted more than 1,300 state high school students, teachers and adults during the 80th Annual Alabama Future Farmers of America Convention.
 The FLBA, along with the FLBA of North Alabama, demonstrated the convention theme of "Step Up/Stand Out" by becoming the title sponsor of the convention and financing all five sessions.
"The Federal Land Bank Associations understand the needs of today's students and because of their sponsorship we were able to make this convention more exciting and informative than ever before," said Jacob Davis, Executive Secretary of the Alabama FFA Association. "Because of their generosity we are able to put forth more effort on building the future of farming in this country."
 Through the sponsorship of the three day event held at Auburn University, the Alabama FFA Association was able to provide nationally-known speakers and more intense competitions. State leaders were also able to incorporate state-of-the-art staging and lighting, bringing the convention itself up to date to appeal to a younger audience.
"We care about the future of our young farmers in Alabama and we are committed to doing anything we can to support their education to further their agricultural dreams and ambitions," said Douglas Thiessen, CEO of the FLBA of South Alabama.
April 2009
Local Bank Gives Money Back To Customers
Millions Are Put Back Into State Economy
FLBA of South Alabama is pleased to announce a record cash patronage payout of $3,500,000.
Due to the excellent financial position of the Association, the Board of Directors voted in February to return this cash payment to our customers from 2008 earnings.
"This record cash distribution is not part of a government bailout," said Douglas Thiessen, CEO. "It is simply evidence of a financially strong institution giving back to our customers at a time when so many people are financially hurting. Our customers can spend this money as they wish whether it be new equipment for a struggling farmer, extra help paying bills, or put into their savings account."
For more than 90 years, the FLBA of South Alabama has been a reliable source of financing for rural America. We are a $615 million customer-owned cooperative that provides courteous, accurate service through a well-trained, highly motivated staff. We offer a variety of loan programs at competitive rates including agricultural and recreational real estate, rural homes, operating, and agribusiness loans. We are located in Montgomery with credit offices in Demopolis, Dothan, Enterprise, Loxley, Monroeville, Opelika, Selma and Tuscaloosa.
Since the Farm Credit System was established in 1917, the FLBA of South Alabama has always had a mission to provide access to competitive credit for creditworthy borrowers from the agricultural industry and rural America. |
