BB—Lancaster Farming, Saturday, November 22,1980 ,
thanked members for their, continuing support
during his annual report to the lending
Maynard Weary, Marlin Miller and Norman Blocher.
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J
i r* ,» -
’ u, r4*i
Credit holds annual meeting
CARLISLE - Over 800
members and guests of the
York Farm Credit
Association jammed the
ilegant ballroom at the
Embers Restaurant for the
;ooperative’s annual dinner
meeting last Thursday
■‘vemng.
H Ricnard Zook, manager
jf the York Federal Land
and associate manager of
Production Credit
Association, told the
members, “We have never
before experienced a time
when the money markets
have flilctuated like they
lave during the last year
and a half.”
“Interest rates through
;he Land Bank system
climbed steadily from a nine
and a half percent level in
June, 1979, to 12 percent in
-4 'V.
Hydraulic 1 '.
Cylinder -1
-J-TT , V
1 if 1 r 7
'J Vl Stainless Steel
-Z 1 Gite Valve
A false bottom for quick clean
out of stones etc
May, 1980, and then dropped
a percent m July.
Production Credit’s rates
rose from 13 percent in
January to 15 percent m
April and then fell back to 12
percent in August
Zook said the Farm Credit
system realizes the need to
provide prompt and suf
ficient credit to the farming
industry, and will make
every effort to supply that
need to insure adequate food
supplies for the nation.
As of September 30, 1980,
the York PCA was handling
loans for 920 members, with
a loan volume of over $3l
million, a lending increase of
11 percent with five percent
more members A 6 percent
dividend from PCA was paid
to stockholders last
December in the amount of
$11,570.70.
At the end of this year’s
third quarter, the Federal
Land Bank was servicing
1312 members, with loans of
over $77 million. The York
band Bank’s volume is up 22
percent in lending and over
16 percent m membership.
Within the past year, the
Association has opened a
full-time branch office m
Perry County, staffed by
loan officer Ronald Moore
and office assistant Delons
Sutch.
Three Farm Credit
directors were re-elected to
the board for three-year
terms Maynard Weary,
Newville Rl, the current
president of the Land Bank
board, was returned to the
board, as well as PCA
f '
\t/
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