SECOND HARVEST AND AGGEORGIA FARM CREDIT ANNOUNCE HOMEGROWN HELP CAMPAIGN
Second Harvest of South Georgia and AgGeorgia Farm Credit are pleased to announce Homegrown Help, a new joint initiative to combat the effects of COVID-19 in the area. The Farm Credit cooperative is a long-time supporter of the food bank’s work, but Homegrown Help marks the first partnership between the two organizations.
Disasters and emergency situations like the COVID-19 outbreak compound our existing food insecurity crisis. The pandemic and related closures have drastically increased the need for food assistance in South Georgia. Since March, Second Harvest has distributed double the amount of food it had in 2019 – an additional 2 million meals worth. The need is only anticipated to grow as unemployment benefits run out later this summer.
South Georgia’s agriculture community has likewise been hit incredibly hard. With schools and restaurants closed, our area growers have few market outlets. They have seen too much supply and not enough demand. Few processing options exist in the region to extend the shelf life of these valuable crops.
This is where Homegrown Help comes in – to benefit not just the families needing food but also our area farmers. Funds raised will go to purchase Georgia Grown produce; in turn, the food bank will provide these nutritious fruits and vegetables to families in need. AgGeorgia Farm Credit, as co-founder of this campaign, has committed $25,000 to this initiative as part of a larger $50,000 total donation to regional food banks in their service area. Second Harvest anticipates many local individuals and businesses will want to contribute to this fundraising campaign and has several large donors who have already expressed interested. Individuals can donate by texting “HOMEGROWN” to 619-870-1680, or by going to www.feedingsga.org.
“We really appreciate AgGeorgia and Second Harvest partnering together on this,” said Justin Corbett of Corbett Brothers Farms, long-time produce growers in Lake Park, Georgia. “For many years we have supported Second Harvest and understand the great benefit that they provide in our community. We are also proud to be a member of an organization like AgGeorgia Farm Credit that is willing to step in to help in times like these.”
For Second Harvest and AgGeorgia, the project was the perfect fit and opportunity to work together.
“We are thrilled to partner with Second Harvest on this campaign, and we invite other organizations and individuals to support this effort,” said AgGeorgia Farm Credit Board Chairman Dave Neff. “It is wonderful to be able to get local produce to families in need while simultaneously supporting Georgia farmers.”
“We are so excited about Homegrown Help because of the positive impact it will have not just on our neighbors in need but on the farmers who live, work, and worship right here in South Georgia,” added Eliza McCall, Second Harvest of South Georgia’s Chief Marketing Officer.
ABOUT AGGEORGIA FARM CREDIT
AgGeorgia Farm Credit is an agricultural lending cooperative owned by over 4,500 member-borrowers, proud to have been helping Georgia grow for generations. AgGeorgia provides farm loans for land, equipment, livestock and production; rural home mortgages, and services such as crop insurance and leasing. AgGeorgia Farm Credit has 20 branches serving 79 counties in Georgia. It is part of the national Farm Credit System, a network of financial cooperatives established in 1916 to provide a dependable source of credit to farmers and rural America. For more information, visit www.aggeorgia.com.
ABOUT SECOND HARVEST OF SOUTH GEORGIA
Second Harvest of South Georgia serves 26 counties; it is the largest rural food bank in Georgia and one of the largest rural food banks in the nation. Headquartered in Valdosta, the organization has locations in Thomasville and Tifton. Through its network of over 450 partner charities and through our programs, the food bank distributed over 6 million pounds of food during just the COVID-19 pandemic. For more information on Second Harvest and how to get or give help, visit www.feedingsga.org or call (888) 455-4143.
AgGeorgia Farm Credit Announces Payment of $10.9 Million to Borrowers
AgGeorgia Farm Credit is pleased to announce that over $10.9 million is being paid to borrowers of the cooperative, with checks expected to be delivered by the last week full week of June.
“The Board is always focused on being able to return cash to our member-borrowers, but it is certainly an honor and privilege to do so in light of the overall economic environment,” said AgGeorgia Board Chairman Dave Neff. “So many in Georgia have been affected financially in recent months, and we are pleased to see these funds going to help our members and the economies of our rural communities.”
2020 marks the 32nd consecutive year the cooperative has returned profits to its borrowers, with over $393 million in cash being paid out since 1988. This distribution comes after AgGeorgia’s Board of Directors already declared dividends of over $13.9 million in April, with over $4.1 million of that paid in cash. With this upcoming cash return, AgGeorgia will have distributed over $15 million in cash to the borrowers of the cooperative in 2020.
“We are particularly proud to note that with this distribution, AgGeorgia Farm Credit has now shortened our revolvement cycle to 7 years, the minimum span set by our regulator for returning surplus to our borrowers,” said AgGeorgia CEO Jack Drew. “This is an indication of the financial strength of the Association and our board and management’s desire to return profits to our borrowers at the quickest interval possible.”
The payout consists of surplus revolvements from AgGeorgia’s 2010, 2011, and 2012 Patronage Refunds. The surplus portions were taxable when declared 2010-2012, so no additional income taxes are due on the disbursement.
COVID-19 Update: All Branch Offices Open to the Public Effective 6/15/2020
To our valued member-borrowers,
As advised in March 2020, AgGeorgia began operating under its Business Continuity Plan in an appropriate response to the COVID-19 Pandemic. Under this plan, our actions included the temporary closure of our offices to the general public with business conducted through scheduled appointments, telephone communications and various other electronic means. In addition, many of our staff worked remotely with office staff limited to essential personnel only. These actions proved successful in ensuring the continued safety of our employees, members and others who may have typically visited our offices.
Over the last few weeks, we have continued to monitor the statewide and local COVID-19 statistics, and executed a successful phased reintroduction of our remote staff to their respective offices. I am pleased to report that we currently have all offices operating at full capacity and staff. With that task accomplished, the final phase of our return to normal operations is the reopening of our lobbies to our members-borrowers. I am pleased to announce that effective Monday, June 15, 2020, all offices of AgGeorgia Farm Credit will be opened to the public.
As always, the primary concern of our Board of Directors and staff has been and continues to be the health and safety of our members, staff, and communities we serve. With this reopening plan, please be assured that our staff follows prescribed preventive protocols and we are exercising prudent steps to ensure a safe and welcomed return to the office environment. We understand and appreciate that some of our members may not yet feel comfortable visiting our offices or interacting in-person. It is our privilege to serve all members with the highest level of service possible and in the method most convenient for the member. For those who wish to continue transacting business remotely, AgGeorgia offers a variety of options that allow you to access your account and all the services we offer, some of which are listed below:
Digital Banking – View and manage your accounts online. Go to aggeorgia.com to sign up.
AgGeorgia Farm Credit Mobile – Manage your accounts with our mobile app.
AutoDraft – Draft your loan payments automatically to save time.
FastCash – Electronically transfer funds from your line of credit to a commercial bank account online or by phone.
In closing, the Board of Directors and staff of AgGeorgia offer their sincere gratitude for your understanding and patience as we operated under our Business Continuity Plan. We hope that you all have been pleased with the level of service AgGeorgia Farm Credit has been able to provide through these challenging times, and I speak for all AgGeorgia Board members and staff when I say we are excited to see our members in-person once again.
Jack C. Drew, Jr.
President and Chief Executive Officer
COVID-19 UPDATE: PLANS FOR REOPENING BRANCHES AND RETURN TO NORMAL OPERATIONS
To our valued member-borrowers,
With our offices temporarily closed to the public and operating by appointment only, I wanted to provide you with some positive news of our plans to gradually return to normal operations over the course of the next 30 days. On Monday, May 18, 2020, AgGeorgia will begin implementing a staggered reopening with Phase One being the reintroduction of a select number and group of remote staff back to the office environment. Beginning Monday, June 1, 2020, the second phase will be implemented with the remaining staff returning to the offices, and pending no setbacks, we anticipate the plan culminating in mid-June with the full reopening of our branches to the public. In the interim, we will continue to monitor developments related to the coronavirus with our top priority focused on assuring the health and safety of our members, staff, and communities we serve.
As we begin this process, the Board of Directors and Staff of AgGeorgia offer their sincere thank you for your understanding and patience as we implemented our Business Continuity Plan. Your encouragement and support of the actions taken by this Association for the health and well-being of the staff and our patrons have been much appreciated. And, equally important, a thank you to our staff who worked tirelessly, whether onsite or remote, in continuing to deliver excellent service to our members during an unusual disruption in normal business operations. I hope that you all have been pleased with the level of service AgGeorgia Farm Credit has been able to provide and I speak for all AgGeorgia staff when I say we are excited to soon see our members in-person once again.
Again thank you for your support, and please don’t hesitate to reach out to your Relationship Manager, call your local branch, or send us a message at marketing@aggeorgia.com.
Jack C. Drew, Jr.
President and Chief Executive Officer
AgGeorgia Farm Credit Announces Hiring of Information Systems Specialist in Perry
AgGeorgia Farm Credit is pleased to announce the hiring of Craig Nuckels as Information Systems Specialist in the Perry Office. Craig has extensive IT experience, previously working as a systems administrator and logistics analyst. A native of Florida, Craig now resides in Houston County with his wife Stella and children Michael and Benjamin.
AgGeorgia Farm Credit Announces Hiring of Loan Assistant in Royston
AgGeorgia Farm Credit is pleased to announce the hiring of Sonya Chastain as a Loan Assistant in our Royston office. A native of Franklin County, Mrs. Chastain graduated from Athens Technical College where she received an Associate’s Degree in Accounting. She grew up and worked on horse farms where she barrel raced and rode on a Mounted Drill Team. Sonya previously worked as a loan originator with a credit union. She currently resides in Madison County with her husband and two sons.
Mrs. Chastain looks forward to using her agricultural and business background to service the needs of residents of Banks, Clarke, Elbert, Franklin, Hart, Madison and Stephens Counties.
AgGeorgia Farm Credit Announces Hiring of Relationship Manager in Sandersville
AgGeorgia Farm Credit is pleased to announce the hiring of Julie Ann Akins as a Relationship Manager in our Sandersville office. A native of Berrien County, Ms. Akins graduated from The University of Georgia where she received a Bachelor of Science in Nutrition Science. She grew up on her family farm raising beef cattle and growing cotton, peanuts and corn with her father, a sixth generation farmer. Julie Ann previously worked for The University of Georgia Tifton Campus doing cotton research.
Ms. Akins looks forward to using her agricultural background to service the needs of residents of Baldwin, Glascock, Hancock, Jones, Warren and Washington Counties.
AgGeorgia Farm Credit to Distribute Nearly $14 Million to Membership
AgGeorgia Farm Credit has announced that dividends totaling $13,953,640 have been declared by its board of directors, with receipt by members anticipated the first week of April.
“We know that this is a particularly stressful time for many because of COVID-19, and our board and staff are pleased to be able to give our members some good news and some extra cash in their pockets,” said Dave Neff, Chairman of the AgGeorgia Farm Credit Board of Directors.
This marks the 32nd consecutive year the cooperative has returned profits to its members through its Patronage Refund Program, with over $382 million in cash being paid out since 1988. The refund, from 2019 earnings, consists of more than $4.1 million in cash and over $9.7 million in allocated surplus, with the surplus portion to be used to maintain the capital position of the cooperative and returned to members at a later date.
“The patronage refund reduces our members’ cost of borrowing considerably, this year lowering the average member’s stated rate by 1.50%,” said AgGeorgia’s CFO Carrie McCall. “For every dollar of interest expense accrued by our borrowers in our general portfolio in 2019, 24 cents is being paid back to them.”
AgGeorgia Farm Credit Announces Hiring of Loan Assistant in Waynesboro
AgGeorgia Farm Credit is pleased to announce the hiring of Stacey Burke as a Loan Assistant in our Waynesboro office. A native of Burke County, Stacey graduated from Brenau University where she received a degree in Human Resource Management. Mrs. Burke was previously employed in the insurance industry as well as owning her own boutique. She has two children, Shelby and Trent.
Mrs. Burke looks forward to using her business background to service the needs of residents of Burke, Columbia, Jefferson, McDuffie and Richmond Counties.
COVID-19 Update: Access to Branches Limited to Appointment Only Effective 3/23
To our valued member-borrowers,
As we monitor developments related to the coronavirus (COVID-19), I want to communicate that our top priorities are the health and safety of our members, staff, and the communities we serve. In accordance with those priorities, AgGeorgia Farm Credit has taken into account guidance from public health officials in formulating the best methods to ensure excellent, uninterrupted service during this time. Effective Monday, March 23rd and until further notice, AgGeorgia Farm Credit will temporarily limit public access to all branches, but will be open by appointment for requests requiring in-person service.
I want to assure you that our staff is available and eager to assist with any needs you may have. Our office hours remain unchanged, and corporate and branch offices are open with staff ready and willing to help, whether working on-site or remotely. As we continue to monitor the situation, I urge you to visit our website and social media for the most updated information available.
As we operate under our Business Continuity Plan, we encourage you to contact us by phone, email, or utilize any of our available online services. AgGeorgia offers a variety of remote options that allow you to access your account and all the services we offer, without the need to visit a branch.
Digital Banking – View and manage your accounts online. Click here to sign up. AgGeorgia Farm Credit Mobile – Manage your accounts with our mobile app. AutoDraft – Draft your loan payments automatically to save time. FastCash – Electronically transfer funds from your line of credit to a commercial bank account online or by phone.
Or you can simply call 1-800-768-3276 to talk to one of our team members.
And as always, AgGeorgia Farm Credit will never ask for personal information or log-in credentials in an email or text message. During these unprecedented times, we ask you to be cautious of suspicious email and text messages that try to convince you to share sensitive information such as username, password, etc., or ones that may impersonate our cooperative.
Most importantly, we are just an email, text message, or phone call away. If there’s anything that we can do, please don’t hesitate to reach out to your Relationship Manager or send a message to marketing@aggeorgia.com.
Jack C. Drew, Jr.
President and Chief Executive Officer