Release date: 3/26/2016
Member-borrowers, directors, staff and their families gathered on February 22 and 23 for the annual meeting of the Central Kentucky Agricultural Credit Association. The regional meetings were held in both Lexington and Danville, this marks the 82nd year of the Association.
President and CEO, Jim Caldwell, announced the association continued to set record high marks in financial growth for 2015. Among many highlights, it was announced the total capital of the association has grown to a record $68 Million. The association appeared to have a “three-peat” with three consecutive years of outstanding performance. Ag Credit had a net income of $9.3 million in 2015, the third consecutive year in the $9-10 million range.
Over the past 19 years, Ag Credit has given its customers back over $21 million through the Patronage Distribution program. It was also announced, the member stock requirement would be lowered from 2% or $3,000 to 2% or $1,000. This is great news for the association!
“Whatever you are, be a good one.” Caldwell explained how this is one of Abraham Lincoln’s most famous quotes, and how it relates to Ag Credit. “For over eighty years, the association has focused on one thing – providing dependable financial services to rural communities and agriculture. That is our charge – to be a solid, reliable partner with the people we serve,” said Caldwell. “Our goal, as always – and best said by Mr. Lincoln - is to be a good one.”
Download a PDF containing slides accompanying the meeting.
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