Carolina Farm Credit published its 2018 annual report at the end of March, according to CEO Vance Dalton in a press release.
The report discloses Carolina Farm Credit’s 2018 financial performance, the press release said. Carolina Farm Credit reported net earnings of $39.9 million in 2018, according to the release.
“These earnings generated a strong return on assets of 2.55 percent,” the release said. “Loan volume grew just under 4.49 percent in 2018.”
The 2018 report marked the 31st consecutive year of patronage refunds, and during those 31 years, Carolina Farm Credit said it distributed more than $435 million to its borrowers, with members receiving their cash dividend checks at customer appreciation events held by each of the 31 Carolina Farm Credit branch offices, including the one in Jefferson.
“2018 was a very good year for Carolina Farm Credit,” Dalton said in the press release. “Operating as a cooperative enabled us to return a significant portion of our earnings to our member borrowers to be invested back into their operations and local communities.”
Carolina Farm Credit’s 2018 annual reports were mailed to each stockholder and member at the end of March, the release said, and can be viewed online at https://www.carolinafarmcredit.com/home.aspx.
“The report’s theme celebrates being Farmer Strong within the community,” Carolina Farm Credit said in the release. “The report highlights branch community service projects, our Pull for Youth Charity Shooting Events, and our Corporate Mission Fund.”
For 100 years, Farm Credit has been supporting rural communities and agriculture with reliable, consistent credit and financial services, according to the release.