Spring - AgCarolina

Transcription

Spring - AgCarolina

Leader
An East Carolina Farm Credit Member Publication—May 2007
Farm Credit HORIZONS
New Crop Takes Flight
Groundbreaking Events
Patronage News
Refund History
Thank you for your
patronage and support
during the past year.
Spread the cooperative
story by telling your friends
and neighbors about East
Carolina Farm Credit and
help your patronage grow.
YEAR
TOTAL
PATRONAGE
TO MEMBERS
PAID IN CASH
Initial Cash
Surplus
Payment
Allocated
OUTSTANDING
SURPLUS
ALLOCATED
1988
$2,163,147
$432,029
$1,731,118
$0
1989
3,767,729
1,136,059
2,631,670
0
1990
3,610,981
1,083,192
2,527,787
0
1991
7,036,382
2,110,915
4,925,468
0
1992
8,906,298
2,671,421
6,234,877
0
1993
10,776,112
3,232,734
7,543,379
0
1994
9,121,596
2,736,678
6,384,919
0
1995
10,294,337
3,088,301
7,206,036
0
1996
9,914,301
2,974,190
6,940,111
0
1997
10,251,000
3,075,800
7,175,200
0
1998
10,374,583
3,112,539
7,262,044
0
1999
10,870,402
3,261,021
7,609,381
0
2000
7,287,214
2,186,164
5,101,050
0
2001
9,189,434
2,756,830
0
6,432,604
2002
7,111,026
2,133,308
0
4,977,718
2003
3,803,285
3,803,285
0
0
2004
4,739,988
4,739,988
0
0
2005
6,076,120
6,076,120
0
0
2006
6,128,500
6,128,500
0
0
$141,422,435
$56,739,074
$73,273,040
$11,410,322
19 YR. TOTAL
We Put Our Profits In Your Pockets
East Carolina Farm Credit • May 2007
May 2007
Contents
Mission Statement
Farm Credit HORIZONS. . . . 4
To improve the quality of life
on farms and in rural areas of
eastern North Carolina through
a financially strong cooperative
structure and a commitment to
provide competitive lending and
financial services, ensuring a
feeling of partnership with our
customers.
Joe Ross:
Industrious Professional. . . . . 8
Vision Statement
Finding the Right Builder . . . 19
We will strive to be
the customer’s first
choice for service and
reliability; providing
sound, constructive credit
and financial services with
emphasis on customer service
and increasing customer wealth.
Groundbreaking. . . . . . . . . . . 21
State News. . . . . . . . . . . . . . 10
Jim Aldridge:
Lenoir County Inventor . . . . . 12
Director News. . . . . . . . . . . . 15
New Crop Takes Flight. . . . . . 16
Customer Appreciation . . . . . 18
Fruit Tree Pruning. . . . . . . . . 22
Association News . . . . . . . . . 23
Long-term Care Insurance. . . 24
WANTED: Photos. . . . . . . . . 25
Employee News. . . . . . . . . . . 26
Cholesterol Info. . . . . . . . . . . 28
Holiday Schedule
Recipes. . . . . . . . . . . . . . . . . 29
May 28 Memorial Day
July 4 Independence Day
Quarterly Financial Report. . . 31
An East Carolina Farm Credit Member Publication
is published quarterly for stockholders, directors
and friends of East Carolina Farm Credit.
Address changes, questions, comments or requests for copies of our
financial reports should be directed to East Carolina Farm Credit by
writing P.O. Box 14789, Raleigh, N.C. 27620 or calling 800-951FARM. Our quarterly financial report can also be obtained on our
website: www.farmcredit.org Email: [email protected]
EDITOR & MARKETING MANAGER
Linda Strickland
President
Eugene Charville
PUblisher
AgFirst Farm Credit Bank
BOARD OF DIRECTORS
A. T. Winslow, Jr., Chairman
Edward Bissette
David Blalock
Lynn Daly
Ralph Ellington
Jack Finley
Stephen I. Harris
Publishing Director
Donna Camacho
designers
Darren Hill, Amanda Simpson
Travis Taylor, Cassandra Zimmerly
PRINTER
Spectra True Colour
Circulation
Kathi DeFlorio
Audie Murphy
Stuart Pierce
Stanley Roberson, Jr.
Thomas Snider
Dick Tunnell
Kelly Vann
Eldridge T. Westbrook
Farm Credit HORIZONS
Proposals to Congress
To Help Better Serve U.S. Agriculture and Rural America
Mike Mason, Director of Communications, The Farm Credit Council
WASHINGTON — Calling for Congress to
ensure that U.S. agriculture and rural America
have reliable access to capital to meet changing
needs, the Farm Credit System presented lawmakers with a modest three-point plan to update its service to American farmers, ranchers
and rural families.
“Today’s farmers, ranchers and rural entrepreneurs are on the leading edge of a global agricultural economy. Farm Credit’s research has
made it clear that rapid change requires greater
flexibility on the part of the institutions that
U.S. agriculture and rural America rely on. Yesterday’s ways of doing business simply will not
work to ensure the continued success of agriculture and America’s rural communities,” said
Bruce Nelson, a Farmington, Wash. farmer who
serves on the board of Northwest Farm Credit
Services in Spokane and as Chairman of the
Farm Credit Council Board of Directors.
“Farm Credit today provides an efficient,
customer-owned system to move capital from
national money markets to agriculture and rural
America, but decades old law that has not been
updated to reflect today’s business structures
and population change hampers Farm Credit’s
ability to support progress,” added Armin Apple, a McCordsville, Ind. farmer who also serves
on the Farm Credit Council Board as well as the
board of Minnesota-based AgriBank.
For over 90 years, the Farm Credit System
(FCS) has advanced its mission to maintain the
quality of life in rural America and on the farm
by providing sound, dependable and competitive financing and related services. Facing a rapidly changing global marketplace and structural
change, American farmers, ranchers and rural
entrepreneurs need reliable access to a broad
range of financial services and expertise in order
to capitalize on emerging growth opportunities.
To modernize Farm Credit’s ability to serve
agriculture and rural America and maintain
farmer control, Farm Credit has proposed the
following incremental changes to current law:
• Providing More Financing Options for
Farm- and Fishing-Related Businesses:
This proposal would increase the competitive credit options for farm- and fishing-related businesses by allowing more of them
to borrow from Farm Credit. Eligible businesses would be limited to those primarily engaged in providing needed inputs
directly to producers (such as local farm
equipment dealers, feed and seed dealers,
commercial fishing vessel repair services,
etc.) or that purchase or handle farm products directly from producers (such as local grain elevators, value-added processors,
etc.). Farmers and aquatic producers rely
on a strong rural infrastructure of related
businesses to support their operations
- without these businesses, farmers, ranchers, and producers of aquatic products
won’t survive.
• Making Competitive Home Mortgage
Choice Available to More Rural Families: Farm Credit currently can provide
home mortgage loans only to residents
of towns with populations of 2,500 or
fewer. This limit has not been adjusted
since 1971. Since the, Congress has renewed the definition of “rural” for many
USDA programs, and today includes areas
up to 50,000 in population. This proposal
would permit Farm Credit to make mortgage credit available for moderately priced,
single-family, owner-occupied homes in
additional rural towns consistent with that
USDA definition, just as it does today in
very small towns. Farm Credit would remain bound by a requirement that rural
home mortgage lending cannot exceed
more than 15 percent of a Farm Credit
association’s loan portfolio, thereby limiting risk exposure as well as its position in
the local mortgage marketplace.
• Modernizing Farm Credit’s Ability to Set
Cooperative Stock Requirements: The
current minimum stock purchase requirement for borrowers from Farm Credit associations was set twenty years ago when
System capital levels were low. Today, however, the capital levels of all Farm Credit
associations substantially exceed the minimum requirements. Local association directors would be given the flexibility to set the
minimum stock-purchase requirement. The
proposal would not alter requirement that
voting stock only be held by farmers. Also,
the board of the one Agricultural Credit
Bank in the System, CoBank, should have
the flexibility to give more of its stockholders the right to vote in board elections.
Continued on Page 30, See HORIZONS
Congressmen Unite to Support Farm Credit
HORIZONS Project Endorsed
by North Carolina Congressmen
T
he five North Carolina Congressmen that As part of the next Farm Bill, Farm Credit is
encouraging Congress to consider language to
represent the residents of eastern North
Carolina have submitted letters of sup- “expand opportunities for rural credit availability
port for the Farm Credit HORIZONS initiative. through the Farm Credit System.”
East Carolina Farm Credit is working diliAssociation CEO Gene Charville and members
of the Association Board of Directors have visit- gently to ensure that the congressional represened with the Congressmen both on Capitol Hill
tatives fully understand the positive impact that
and on a local level to share the background and
the HORIZONS initiative holds for the Farm
gain their support for the HORIZONS project. Credit System. •
Congressman
Brad Miller
13th District
Congressman
Walter Jones
3rd District
Congressman
G. K. Butterfield
1st District
Above: CEO Gene Charville (Left), visits with Congressman Bob Etheridge prior to an Ag Forum held in Coats, N.C.
Congressman Etheridge, along with Congressmen Brad Miller; Walter J. Jones, G. K. Butterfield, and David Price
have all endorsed the HORIZONS project.
Congressman
David Price
4th District
A copy of the letter of support for Farm Credit HORIZONS from Congressman Walter Jones
A copy of the letter of support for Farm Credit HORIZONS from Congressman Bob Etheridge
Member Feature
Industrious Professional
Joe Ross, Owner of J&J Logging
By: Linda Strickland
“Early to bed and early to
rise, makes a man healthy,
wealthy, and wise.” This
familiar quote by the
notable Ben Franklin
best describes Joe Ross,
owner of J&J Logging in
Henderson, N.C.
Mr. Ross’s day begins at 4:30 a.m. each morn- “Later, when I purchased my first track loader, I
ing just when most of us are turning over to
thought I was really moving up!”
grab another couple hours of sleep. As the sun
In the early 1980s, with the farm crisis that
rises over Vance County, he heads to his office
swept across America, Joe Ross decided to go
to catch up on paperwork and review the day’s
full-time into the logging business. He began as
schedule. Not only is he the boss, but he is a
a contract timber harvester with Amos L. Capps
“hands-on” boss, so his days are not spent sitting
Pulpwood and 16 years later decided to launch
in the office overseeing his timber harvesting
his own timber company, Carolina Commonoperation, but most of his time is spent deep
wealth Forest Products, LLC. Now, more than
down in the logwoods working alongside the
20 years later, Joe Ross has kept things moving
logging crews.
with a strong commitment to production and
Hard work is nothing new for Joe Ross, professionalism.
who grew up on a Warren County farm and
Some loggers carve out a niche for their
continued in the farming business until the
business by concentrating on just one area of
early 1980s. During his farming career, tobacco
the industry. However, Joe feels it is best to
and soybeans were his major commodities and
cover all the bases by ensuring his company is
during the winter months, when farming was
equipped to handle most any logging situation.
slow, he began clearing up the woods, cutting
J&J Logging operates three crews from its
small timber and brush around his farm using
home base in Henderson, NC. Two of the crews
farm tractors to pull the trees and logs that he
are comprised of fifteen to twenty individuals
At Top: J&J Logging consists of a fleet of 22 trucks like
had cut down from the woods.
who handle assigned duties. The third crew
the one shown above.
“As far as the logging business goes, I lit- operates with four individuals. The positions
Below Left: Joe begins each day with a visit to his office.
include loader operator, feller-buncher operator,
erally began from scratch,” he says. “My first
He and daughter, Joann, discuss the day’s plans.
loader was a 1952 GMC truck with a cable at- skidder operator, delimber operator, chipper
Below Right: Joe Ross, on his way to check on another
tached to load timber. It was a logger’s dream!” operator, deck hand, and sawyer.
logging site.
Section name
600 loads weekly from eight different contracTwo of the crews, on average, harvest thirty
tors, and the dealership also provides timber for
loads per day per crew with a weekly average of
J&J Logging.
approximately 300-350 loads per week. This is
With the savvy leadership of Joe Ross,
a phenomenal average since most logging crews
along with the experience of Hurt and Scott,
will cut 15-20 loads per day. The smaller crew
both registered foresters, Carolina Commonharvests, on average, twelve loads per day.
Hauling is handled by J&J Trucking. This
wealth has proven to be a smart investment for
entity separated from J&J Logging in the mid- these timber professionals.
90’s and incorporated due to liability reasons.
Mr. Ross says, “My relationship with East
Today, the transport business consists of a fleet
Carolina Farm Credit has been a good match
of 22 trucks, 41 chip vans, 54 log trailers, and
for my business.” J&J Logging was one of the
five lowboys. “Unless a machine is covered un- first loans made in the logging industry by the
former Tar Heel Farm Credit.
der manufacturer’s warranty, we take care of all
Agribusiness Loan Officer, Tim Pace says,
of our maintenance,” explains Ross. Each crew
has a service truck fully equipped with tools “Joe’s experience and knowledge of logging is
invaluable. He is a very progressive individual
and parts.
However, according to Ross, the most im- and is well-known and respected throughout
the industry.”
portant tools on the job are hardhats, saw chaps
So goes the quote, “Early to bed, early to
and steel-toe boots. “Production is important,”
Ross says, “but safety is the number one priority.” rise, makes a man healthy, wealthy, and wise.” •
Overseeing the daily operations of J&J
Logging Company is a full-time job. However,
in 1996, Ross formed a timber dealership with
partners, J. G. Hurt and David Scott. Carolina
Commonwealth Forest Products, LLC handles
Above: Logs are ready for hauling.
Below: Workers perform maintenance on equipment.
It is important that equipment be kept in top notch
condition.
Bottom Images: Logging involves many different pieces
of equipment.
State News
2006 Grant Recipients
Eastern North Carolina
Programs Receive Grants
through ECFC Corporate
Giving Program
At Bottom: Recipients from twelve eastern North
Carolina organizations were recognized as 2006
grant recipients. On hand for the presentations were
Congressman Walter B. Jones (second from left),
Association Board Chairman Tommy Winslow (right),
and Association CEO Gene Charville (third from right).
The grants are one component of the ECFC Corporate
Giving Program, The Fund for Rural North Carolina.
10
Twelve organizations from throughout eastern
North Carolina were recently awarded grants
totaling $28,500. The grants are one part of
ECFC’s corporate giving program, the Fund
for Rural North Carolina. The grants will help
the recipients carry out programs that specifically benefit farmers and rural residents in
eastern North Carolina where the Association
conducts business.
Grants up to $3,000 per organization were
awarded in one of the four focus areas of Education, Environment, Technology, or Quality of
Rural Life to the following organizations:
• Northampton County 4-H to provide
scholarships for county youth to attend 4H camp, 4-H Congress, training for adult
4-H volunteers, and curriculum for 4-H
clubs and after school programs. - $2,500
• North Carolina Zoological Society, Inc.
for funding the Sylvan Heights Waterfowl
Park & Eco-Center in Scotland Neck to
generate eco-tourism revenue, create jobs
and provide educational opportunities. $2,000
• Beaufort/Hyde Partnership for Children,
to provide developmentally appropriate books to rising kindergarten students
in Beaufort and Hyde counties (approx.
1,250 books). - $3,000
• Belvidere/Chappell Hill Volunteer Fire
Department, to purchase 2007 Pierce fire
truck. - $2,000
• Pitt County FFA Alumni, to provide FFA
membership to all students enrolled in ag
education at Ayden-Grifton and J.H. Rose
High Schools, and provide resources for
students to develop SAE project. - $2,500
• Sharp Point Volunteer Fire Department,
to update current fire fighting equipment.
- $2,000
• Murfreesboro Historical Association, for
addition and restoration of current agriculture museum. - $2,500
• Gates Volunteer Fire Department, to
purchase hand-held radios to enhance firefighter safety. - $3,000
• Foundation of Wayne Community College & NC Cooperative Extension, to
implement the Karl M. Best Leadership
Program to improve the image of the
agriculture industry by teaching farmers
the impact of legislative process and good
communication with business and industry neighbors. - $2,000
• Pasquotank Center, NC Cooperative
Extension, to educate farmers and families about alternative businesses, especially
farm-related enterprises. - $2,500
• Farmers Market, Rocky Mount, to complete the Farmers Market building with
construction of three cupolas and a functioning wind vane, improve the landscaping, walkways, and benches. - $2,500
• Tar River Land Conservancy, for registration and materials for conservation workshop for farmers, rural landowners, and
their financial advisors. - $2,000
Grant applications for 2007 are due by September
1. For information and an application, go to www.
farmcredit.org and click on Fund for Rural North
Carolina. •
Ag Leadership Institute
Twenty-three young farm couples attended the
2007 Ag Leadership Institute, facilitated by Dr.
David Kohl.
On January 5-7, 2007, the association
hosted twenty-three young couples from
ECFC’s 34-county territory at the annual Ag
Leadership Institute held at the Crabtree Marriott in Raleigh. The Institute, led by Dr. David
Kohl, Professor Emeritus in the Department of
Agricultural and Applied Economics at Virginia
Tech, led the group through sessions of “Great
Times, Great Minds.”
Dr. Kohl’s topics are designed to educate
young and beginning farmers about issues they
face on a daily basis in agriculture and include
by Agribusiness Branch Manager, Dave Morris,
discussion time for some of the “hot topics” who shared slides and testimony from some of
including the 2007 Farm Bill, alternative en- his recent mission trips.
Association CEO, Gene Charville says,
ergy, federal funding rate, global partners, and
“We look forward to this event each year. East
recession forecasting.
Carolina Farm Credit is committed to buildFriday evening’s after dinner speaker was
Ed Kacsuta, Chief Financial Officer, of Butter- ing our relationship with the young and beginball, LLC. Ed delivered a dynamic presentation
ning farmer. The weekend conference allows
on the turkey industry and the recent consolida- us to interact with these young couples in a
tion of Carolina Turkeys with Butterball, LLC. different setting than out on the farm. These
young couples will be our future ag producers
On Saturday evening, the group enjoyed dinner
and decision makers.” •
at the RBC Center and cheering the Carolina
Hurricanes to a victory. Sunday morning’s session began with a prayer breakfast conducted
11
Member Feature
Lenoir County Inventor
Jim Aldridge
By: Linda Strickland
How many times have
you seen those neat little
gizmos that get the job
done perfectly, and then
thought....why didn’t I
think of that?
At Top: Stacks and stacks of buckets that will eventually
become a Superbowl Poultry Feeder.
In Middle: Former engineer, turned inventor, Jim
Aldridge is pictured with all of his inventions: Rigging
Bucket (available in blue or black), Superbowl Poultry
Feeder, and Superbowl Deer Feeder.
12
One look at LaGrange turkey grower/inventor,
Jim Aldridge’s turkey feeder will make you question yourself again...why didn’t I think of that?
Jim Aldridge grew up on a Lenoir County
family farm. After high school, he attended East
Carolina University in Greenville, receiving
a degree in Industrial Technology. For several
years, he worked as plant engineer at the old
Snow Hill Apparel in Greene County. In his job
as plant engineer, “I was always coming up with
gizmos,” Aldridge said.
After leaving the now-closed textile factory
in late 1993, Jim began raising turkeys. Raising
turkeys was tough, especially at feeding time.
The young birds, or “poults,” were fed from disposable cardboard trays that were refilled daily.
Once a flock left the turkey house, the trays
had to be destroyed because of the possibility of
passing diseases from one flock to the next.
“Just feeding the turkeys became a very labor intensive job,” says Jim. So the former engineer began looking for a new way to feed his
poults after getting tired of filling small cardboard trays each day. And, his idea came to him
almost by accident.
He discovered that if he took a five-gallon bucket, cut four slots in the sides near the
bottom, cut off the bottom and placed it in
the lid from a pickle barrel that the lid made
an efficient feed trough. And best of all, the
bucket could hold several days worth of turkey feed. That meant a grower only had to
walk through the turkey house and lift the
bucket so enough feed would run into the
trough. This would definitely be a time-saver,
but Jim wanted to develop a feeder that could
store the turkey feed for several days at a time
and actually go unattended.
Using modeling clay and other materials,
Jim fashioned a base that would allow just the
right amount of feed to filter into the attached
trough. The base had molded fasteners that allowed a bucket to be attached.
In April 1997, Jim had a mold made for
his base and in December of the same year, he
secured a patent for the Superbowl Poultry
Feeder.
As a contract grower for Goldsboro Milling Company, Jim says, “The encouragement
and support that I received from Goldsboro
Milling during the development stages of the
Superbowl Poultry Feeder were much appreciated. Goldsboro Milling Company was instrumental in helping me get the endorsements that
I needed.”
Since receiving a patent for his Superbowl
Poultry Feeder, Jim has sold 300,000 of the feeders. His market extends throughout the US and
also includes Canada. Jim says, “Nationwide,
50% of the turkey growers use my feeder.”
“Growers like the fact that the feeders may
be reused, says Jim. “They are easy to disassemble and wash, plus they have a large storage
capacity of up to fifty pounds of feed, which
saves the grower valuable time.”
According to statistics from the North
Carolina Department of Agriculture & Consumer Services, North Carolina is the number
two state in the production of turkeys. Not
surprisingly, many local growers are using Jim’s
invention.
This inventor’s wheels did not stop turning
with the success of his first invention. Since inventing the Superbowl Poultry Feeder, Jim used
the ideas behind his turkey feeder to develop
a deer feeder that works on the same principle
and reduces the amount of time and work that
hunters spend feeding the animals. On the deer
feeder, a lid covers the attached bucket to keep
the deer from eating out of the top. The deer
feeders are available in both a seven and thirty
gallon size.
Jim’s inventions are not designed only for
land lovers, but he also has a nifty item for the
fisherman. Designed along the same lines as the
poultry and deer feeders, Jim created a rigging
bucket to hold lures, hooks, and tackle. The rig-
ging bucket can hold up to eighty-four lures that
easily slide down to the base of the bucket. At
the end of a long day on the water, the bottom
is easily removed for rinsing all of the lures and
items that were used during your fishing trip.
ECFC has had a relationship with Jim
since 1993. Jim says, “I like working with Farm
Credit, because they understood my needs when
other lenders didn’t want to listen.”
For information on the Superbowl Poultry or Deer Feeder or the Superbowl Rigging
Bucket, go to www.superbowlfeeders.com or
www.riggingbuckets.com. •
At Top: Jim Aldridge uses a router to remove the bottom
of his feeders.
At Left: Using the same concept as he did for the
Superbowl Poultry Feeder, Jim began making the
Superbowl Deer Feeder.
13
Now Offering
Preferred Stock
Preferred Stock is preferred, non-voting stock that pays quarterly dividends.
Benefits of owning Preferred Stock are:
• Accounts are highly liquid.*
• Stock can be withdrawn daily.
• Dividends available when declared.
• Dividend rate is market competitive with other investment alternatives.
• Investment is safe—Association is well-capitalized, profitable, and performing
at or above industry benchmarks.
How Does it Work?
Preferred Stock is available to association members only. The stock is offered
at $5.00 per share. The minimum initial investment is $1,000 or 200 shares. The
minimum on subsequent investments is also $1,000 or 200 shares.
Dividends will be paid quarterly in shares and will be automatically reinvested.*
Preferred Stock has no fixed maturity, term, or retirement date. A holder may
request a retirement at any time. All shares must be retired within 90 days
following the termination of the holder’s lending relationship with the association.
*Safety and Conditions
Preferred Stock accounts are not insured and are
at risk investments in East Carolina Farm Credit.
The borrower’s investment is dependent solely on
the commitment and financial condition of East
Carolina Farm Credit with respect to honoring
the terms of this program, including the repayment of all funds in the account and the payment
of any dividends.
For additional information or to purchase Preferred Stock,
you may contact your East Carolina Farm Credit Loan Officer.
Director News
New Director
Audie Murphy of Greene County was elected to
the Board of East Carolina Farm Credit at the
annual meeting held in November. Mr. Murphy
is an owner-operator of Lucky Four Farms, Inc.,
along with his cousin, Tommy Murphy. His
farming operation is conducted in Greene, Wilson, and Wayne Counties. Lucky Four Farms
produces 185 acres of flue cured tobacco, 2,300
acres of cotton, 150 acres of soybeans, 300 acres
of peanuts, and 450 acres of corn. In addition,
the operation consists of four grow-out turkey
houses contracted with Goldsboro Milling.
Audie received his Bachelor’s Degree in
Agronomy from North Carolina State University. He serves as a director of Coastal Quality
Cotton Cooperative and also serves as a member
of the association’s Advisory Committee in the
Greenville office. He is currently a participant
in the two-year North Carolina Farm Bureau
L.E.A.D. program.
Audie and his wife, Tina, have two children, Hunter and Macy. They attend Harrell’s
Chapel Church in Snow Hill. •
Audie Murphy
Greene County
Outside Director Appointed
Jack E. Finley of Raleigh, N.C., was named
outside director for the Board of East Carolina
Farm Credit at the September board meeting.
His term began at the Annual Stockholders
Meeting held in November.
Mr. Finley is Assurance Partner of the Raleigh office of Grant Thornton. His past experience includes Managing Partner of the Oklahoma City office of KPMG, an International Big
Four public accounting firm, serving as a faculty
member of the American Bankers Association’s
Graduate School of Commercial Lending, and
serving as the National Practice Director with
Hudson Financial Solutions. He holds a B.S.
Degree in Business Administration from the
University of Southwestern Louisiana and is a
Certified Public Accountant.
Mr. Finley fills the position previously held
by Dean Durward Bateman, Dean Emeritus of
the College of Agriculture and Life Sciences at
North Carolina State University. Dean Bateman
served as an outside director of the association
for 16 years. •
Jack Finley
Outside Director
(From the left) Association President Gene Charville,
Director Ralph Ellington, W. C. Moore, and Vice
Chairman of East Carolina Farm Credit Board, Dick
Tunnell, were guests at a luncheon honoring Mr. Moore
for his six years of service as an Association Director.
15
YBS Member
New Crop Takes Flight
By: Jim Haskins – AgriBusiness Communications Group
Chufa Wildlife Seed–
A Growing Part of
the Lassiter’s Farm
Business Operation
Above: This Northampton Co. young farm couple, Donny
and Jamie Lassiter, has developed a profitable market
for their niche crop, chufa. They’re ready for yet another
successful selling season for their Cyprus Knee Chufa
wildlife seed, warehoused and ready for shipment to
wildlife habitat owners around the country. A participant
in last year’s East Carolina Farm Credit Leadership
Seminar for Young Farm Couples, the Lassiters were
also one of three finalists in the NC Farm Bureau Young
Farmer and Rancher Achievement Award Program.
16
Donny Lassiter always knew he’d return to
farming. But he didn’t know he’d be growing a
crop compatible with his zeal for hunting and
fishing nor one that few people have ever heard
of and that, quite frankly, sounds like a South
American rodent.
When Donny returned to the family farm
in 2002 with a B.S. and M.S. degree from NC
State University, his father and mother, Bobby
and Debbie, and his brother Mark, were farming 3,000 acres of mostly cotton. However,
Donny and his parents realized he’d have to find
new sources of income to support another family member living on the farm.
Like his father, Donny was very openminded and eager to experiment with new
crops. After reviewing his options, and a tip
from a college friend, Donny decided he’d try
to grow and sell chufa, a crop designed to attract
and retain wild turkeys and waterfowl.
Like with any new crop, he struggled that
first year—learning how to plant, irrigate, harvest, clean, and store the crop. Because they
are both underground tubers, Donny figured
that growing chufa would be similar to growing peanuts. He tried
to use old peanut
equipment to harvest
his crop, but he just
couldn’t get the chufa
clean enough to be
competitive on the
market. “After growing chufa one season,
I learned it was actually more similar to
growing corn, and
my equipment just
wasn’t going to cut it,”
recalls Donny.
After extensive
study, Donny deter-
mined that to get his seed market-ready, he’d
need to purchase a large gravity-flow separator/cleaner and a specialty custom deck. Luckily,
Donny found that East Carolina Farm Credit
has lots of experience working with young farmers and new crops. ECFC saw the potential of
this new market... and Donny. Besides providing two $1,000 college scholarships during his
Wolfpack days, they loaned him the $35,000
needed to purchase the new equipment.
It wasn’t long before those hard-learned
lessons and investment started paying off. That
first crop of two acres of chufa brought in about
5,000 pounds of product. Each and every year,
he’s increased the amount of chufa he’s planted
and produced, and he has always sold out.
He attributes much of his success to his
wife Jamie, a UNC-Chapel Hill graduate and
now a graduate student in speech pathology at
East Carolina University. Even with a rigorous
course load, she finds time to do much of the
legwork for Donny and is the key salesperson at
hunting trade shows in the spring. This dynamic duo sells their wildlife seed product under the
brand name, Cyprus Knee Chufa (named after
What is Chufa? l Why Cyprus Knee? l Products l Growing Chufa l FAQS
Attract More Turkeys and Waterfowl
and Keep‘em on Your Land!
We’re your source for quality American-grown
chufa seed — and currently are taking orders for
chufa and three new products in our CKC wildlife
seed line. Order now the most preferred food
source and one of the most popular crops planted
for wild turkeys and waterfowl — chufa!
Home Our Family Contact Info Links
www.cypruskneechufa.com
the unique trees grown in the swampier areas
around the Lassiter farm).
The product that’s attracted the attention
of game bird hunters and wildlife enthusiasts
is also keeping them. Sure, chufa attracts birds
and keeps them coming back, but it’s the service that customers are hunting for. Says Donny,
“We’ve found that we’ve been able to attract
and retain customers by providing them with
a quality product and outstanding service after
the sale.” To do that, Donny and Jamie spend
many a winter night talking on the telephone or
by email with customers. “We want every customer to be a satisfied customer,” says Donny.
Donny and Jamie also believe in supporting groups that help preserve wildlife habitats
and goodwill among hunters and their neighboring communities. In addition to donating
chufa seed to “Hunter’s for the Hungry,” the
young couple donates chufa to the NC and SC
Wildlife Federation and sponsors one young
hunter to attend a week-long Camp Woodie
wildlife education program.
Today, Cyprus Knee Chufa is one of the
largest producers of chufa in the country. Sales
of chufa seed are a growing part of their farming income, along with Donny’s share of the
now 5,500-acre Lassiter Farms operation that’s
planted in cotton, peanuts, soybeans, corn, and
wheat. Donny and Jamie Lassiter are proud that
their Cyprus Knee Chufa seed business is helping preserve wildlife habitats for the future. Says
Donny, “We feel strongly about this reinvestment in the land and the wildlife that lives on
it.”
They’ve learned a lot over the past few
years. If you do what you love and treat people
well, the seed with the funny name will attract
more than turkeys.
Donny and Jamie’s lineup of Cyprus Knee
Chufa wildlife seeds also includes Magic Carpet,
which can be mixed with chufa to attract deer.
Spring Forward and LabLab are all-purpose
blends of seed that attract deer, turkey, dove,
quail, and other wildlife.
For more information about Donny and
Jamie’s Cyprus Knee Chufa seed business, please
visit their newly updated Web site at: www.cypruskneechufa.com. •
Just What Is Chufa?
Chufa is a bunch grass with a
peanut-like underground nut,
which is used for food plots for
wild game. Chufa is easy to grow.
It can be broadcasted, drilled, or
planted in rows. Planted in May
and June (with a growth cycle
of 90 to 100 days), wildlife start
digging up the chufa nuts once
they mature, usually in late fall
when other food sources are scarce.
High in carbohydrates and protein,
chufa makes an ideal food source
for over-wintering waterfowl.
Opposite Page Top: Cyprus Knee Chufa’s new office,
processing and warehouse facility
Opposite Page Left: Donny and his dog, Scarlet, inspect
a field of growing chufa, which in the fall will attract wild
turkeys and waterfowl galore.
At Top: The Lassiters meet in a chufa field to review the
latest computerized sale of chufa from the “store” on
their new website: www.cypruskneechufa.com.
17
Customer Appreciation
CELEBRATION!!
Customer appreciation
events and the 90th
birthday of the Farm
Credit System were jointly
celebrated across the
association’s territory
during the last quarter of
2006. Customers enjoyed
pig-pickin events along
with birthday cake in
honor of the Farm Credit
System’s 90th birthday.
We Appreciate Your Business!
18
Tips for Life
Finding the Right Builder
Experience and Recognition
maintenance, a reliable builder will guide
and educate you on the maintenance of your
new home, even after you have moved in.
• An experienced builder has built a reputation
for quality homes constructed to strict standards. Years of building experience means
Customer Satisfaction
that the builder can be counted on in the
• You want a builder who truly cares about
future for customer service and stability.
you. If your builder promotes a positive
• An experienced builder usually has won indusenvironment within its organization, from
try and community awards and recognition.
sales counselors to construction managers,
That’s a sure sign they are serious about buildthat good attitude will most likely reflect in
ing the perfect home for their customers.
customer satisfaction.
• To find an experienced builder, do some re- • Don’t be afraid to get personal testimonies
search and ask questions.
from homeowners in the builder’s communities. Most homeowners will have no problem
Quality and Professionalism
telling you exactly how they feel about their
• You have to trust and respect your builder, behome and builder.
cause you’ll work closely with them throughQuality Assurance
out the entire building process. Knowing that
your builder provides a quality home can • What can you expect in addition to a great
bring you years of peaceful living.
floor plan and price? Make sure the builder
applies good building practices that have
• A professional builder will show you organiyour
long-term interests in mind. Your home
zation, teamwork and quality, because they
should
be built to save you money and to
take pride in their work.
avoid future problems.
• Professional builders deliver quality, troublefree homes that are fun to build, fun to move • Does your builder do more than just meet
building code requirements? What extra
into and fun to live in.
measures are taken to ensure your builder’s
Visit some of your builder’s communities to see
homes are the best quality and value?
how they build as well as their finished products.
• Will the builder be there for you once you
Reliability
are living in your new home? What exactly
can
they offer you after you move in? Look
• A reliable builder is someone you can count
for
the
type of warranty program the builder
on to live up to their word, and will be there
offers
to
be sure it is right for you and your
whenever you need them. Find out if you
new
home.
can count on your builder to follow up on
your questions, deliver on their promises, be
available when you need them and provide
quality service.
• How quickly does the builder respond to
customer problems or warranty issues? Is an
effort made to visually review all of your concerns or do they simply tell you it is not under
• A reliable builder will provide a complete
warranty? A quality builder will address all of
home with the fewest possible defects. But
since every new home will require some
Continued on Page 30, See BUILDER
Paulette Ricks
Paulette Ricks is the General Manager of
Century 21 Weaver & Associates in Selma,
NC. She can be contacted at 800-9894633 or by email at [email protected].
What should you look for?
The right builder is just as
important to your dream home
as the perfect floor plan or perfect
community.
Things to expect from the
right builder:
• Experience and recognition
• Quality and professionalism
• Reliability
• Customer Satisfaction
• Quality Assurance
• Involved in the community
• Variety
• Value
19
Property for Sale
Find Your Place At Our Place.
Search thousands of
rural property listings
and get financing
information–
all on our website!
Go to
www.farmcredit.org
and click on
Property for Sale.
20
Association News
Groundbreaking
G
roundbreaking events were recently held
for the construction of two new branch
offices. The two new facilities at Smithfield and La Grange will replace the current offices in Kinston, Goldsboro, and Smithfield.
The new Smithfield branch office will be
located at 2850 U.S. Hwy. 70 Business East
near Smithfield. The new La Grange branch office will be located at 7900 U.S. Hwy. 70 West
near La Grange.
“Our two new facilities will serve our farmer-members in Johnston, Wilson, and Lenoir
Counties, along with parts of neighboring
Wayne and Jones Counties,” said East Carolina
Farm Credit President Gene Charville.
“The investment of $1.6 million in these
two new facilities is our effort to further address customer convenience, as well as better
utilization of our real estate assets,” he added.
The farmer-member financial cooperative is currently providing $1 billion in loans, which represents a 52.9 percent increase in loan volume
over the past five years.
East Carolina Farm Credit Board Chairman A.T. Winslow, Jr. of Martin County said,
“As a cooperative, we are doing what no other
lender does: sharing profits with our members
through a patronage refund program. East Carolina Farm Credit has returned more than $141
million back to the pockets of North Carolina’s
rural communities since 1988, through the patronage refund program.”
The Smithfield and La Grange facilities
will be among 12 branch offices serving farmers in 34 counties in eastern North Carolina.
The architect for the new facility is OakleyCollier Architects PA of Rocky Mount and the
building contractor is Jarman Construction
Company of Kinston. •
Smithfield office to be constructed at 2850 U.S. Hwy. 70 Business East of Smithfield
Breaking ground for the new Smithfield office (l-r)
Chris Coates, Branch Manager-Goldsboro, Billy Parrish,
Branch Manager-Smithfield, ECFC President Gene
Charville, Smithfield Mayor Norman Johnson, Johnston
County Commissioner Cookie Pope, and ECFC Board
Member Eldridge Westbrook.
La Grange office to be constructed at 7900 U.S. Hwy. 70 West in La Grange
On hand for the La Grange ground breaking were (l-r)
Greg Jarman of Jarman Construction, ECFC President
Gene Charville, David Herring, Branch Manager-Kinston,
ECFC Board Member Stanley Roberson, La Grange
Mayor Woody Gurley, and Mark Pope, Economic
Developer for Lenoir County.
21
Tips for Life
Fruit Tree Pruning
By: Carl A. Matyac, N.C. Cooperative Extension Service
Learning how to grow
successful fruit crops can be
a challenge. It’s no longer
just a matter of getting
the plant to grow but now
we have a perishable crop
to keep free of insect and
disease for several months
during the summer when
pests are abundant. One of
the first orders of business is
taking care of pruning fruitbearing trees and vines.
22
Grape vines need a severe pruning every year to
continue to produce abundant crops. On each
grapevine, the main trunk leads to some large
branches called arms. The arms, which should
be attached to the trellis, sprout large number of
branches. These are the shoots or ‘fruiting spurs’
on which the grapes will be produced. These
shoots should be cut back to about six inches.
From these dormant buds, the shoots that produce grapes will arise.
Since grapes are rather prolific, plants
produce many more shoots than are needed to
produce an abundant crop. If all the shoots are
left to fruit, the size and quality of the fruit will
be diminished. I like to leave no more than one
shoot every four inches along the arm.
As for fruit trees, the main reasons to prune
is to remove dead and diseased branches, keep
the height of the tree manageable, allow light
and air to penetrate to reduce insect and disease
problems, and to reduce the number of fruit to
a manageable quantity for the tree to support.
Whenever you decide to prune, remember,
two approaches to pruning should be taken:
thinning and heading back. Thinning means
the removal of an entire branch back to the
main trunk or a large branch. This reduces the
overall density of a plant. Heading back is simply shortening the length of a branch. A branch
cut back to a side bud or branch will stimulate
the development of several lateral buds on the
same branch. Proper pruning should involve a
combination of these techniques to keep a plant
a chosen size, shape or density.
Fruit trees can be trained to a central
leader or to an open center. Apple, cherry, pear,
pecan and plum are usually trained to the central leader model and are characterized by one
main upright trunk referred to as the leader.
Branching should begin 36 inches above the
soil surface. At this point three or four branches
should be spaced evenly around the tree, not directly above one another. This is called a scaffold
whorl. The second whorl should start 18 - 24
inches above the previous one. The shape of a
properly trained central leader tree is like that
of a Christmas tree. The lowest scaffold whorl
branches will be the longest and the higher
branches will be progressively shorter to allow
maximum light penetration into the entire tree.
An open-center system is recommended for
peaches and nectarines. Here the central leader
is removed, leaving an open center. Instead of a
central leader, the open center tree has three to
five major limbs coming out from the trunk like
an open, up-side-down umbrella. This system allows for maximum light penetration.
You should begin training a fruit tree to a
particular form early in the life of a tree. Do not
wait for several years before starting this process.
Also, a well cared for fruit tree should be pruned
in the dormant season as well as the summer.
Summer pruning results in reduced tree growth
and is usually limited to vigorous “water sprouts”
which tend to grow straight up causing shade
and inhibits proper tree development. •
Association News
Co-op Leadership Conference
John and Tonya Lynch (left) of LaGrange joined
thirty-five other young couples from North
Carolina, South Carolina, and Georgia, at the
2006 Cooperative Leadership Conference held
at North Myrtle Beach. John and Tonya were
sponsored by East Carolina Farm Credit. The
2006 conference was the sixth joint North Carolina, South Carolina, and Georgia conference.
Special emphasis at the conference was focused
on the participants’ potential as future cooperative leaders. John and Tonya were selected as alternate Outstanding Cooperators. •
Right: Kris Hines, STAR
participant, presents a
$500 check to Johnny
Sutton, Coach of Northwest Fireballs, girls nine
and under softball team.
Above: Kristin Kirkland, daughter of ECFC members
Lee and LuAnn Kirkland of Leggett, is a member of
the Peace College Chamber Singers, as well as the full
choir. Kristin will be touring with the group from May 21
- June 5 as they visit Spain, France, and Italy, performing
along the way at St. Peter’s and the Vatican.
Left: East Carolina Farm
Credit provided calculators for a workshop sponsored by the Southern
Sudan Department of Agriculture. The workshop
was held in Juba Sudan
with Department of Agriculture employees and
farmers in attendance.
Gary Bullen, Extension
Associate, in the Department of Ag and Resource
Economics at North
Carolina State University
volunteered to teach the
week long workshop.
Above: David Herring, Branch Manager of East
Carolina Farm Credit in Kinston, presents a check for
$500 to Marion Kennedy of the North Lenoir High
School Drama Club. East Carolina Farm Credit, as part
of its STAR Program donates $500 to the nonprofit
organization where an employee volunteers a minimum
of 50 hours.
23
Tips for Life
Long-term Care Insurance
Long-term care
insurance helps pay
for the care you need
when you can no longer
care for yourself. It can
protect your family’s
financial future and
your own investments
and savings.
24
A
s part of our son’s high school graduation requirement, he has to work in an
internship. He chose a local retirement
community and goes several afternoons a week.
He spends time with the residents and has gotten to know some of them quite well.
At dinner recently, he told us that one of
the main topics of conversation among residents was the increasing cost of staying in the
community. Several of them were concerned
about being able to remain. Our conversation
moved to saving money and preparing for the
unexpected. One of the things we discussed was
Long-term Care Insurance.
On the face of it, long-term care should
be something everyone owns. The cost of care
for frail or chronically ill older people continues to spiral even higher. At the same time,
with life spans growing longer, upon retirement Americans may need to fund 30 years of
living expenses.
Even those comfortably well-off know
that years of in-home care, a critical illness,
or extended institutional care for conditions
such as Alzheimer’s disease, can consume their
assets, leaving little, if any money for their
spouses, heirs, family farms, or even their own
living expenses.
Numerous studies have identified three
points of interest. First, here in eastern North
Carolina, the average cost for a trained professional to provide care in a home is $4,000
a month, with care in an institution running
around $5,000 a month. Second, the costs of
providing Long-term Care services are going up
at 7% per year, almost twice the rate of inflation. Third, 85% of us believe that the cost of
long-term care will significantly reduce their retirement income and assets and 46% felt they
would not even be able to afford a year of longterm care.
In short, care costs a lot, it will cost more
next year and we probably don’t have enough
money saved to pay for it.
Clearly, long-term insurance is a better
alternative: It ensures that there will be money
for care, thereby protecting assets from being
consumed by healthcare needs. An LTC policy
can be a critical component in creating a retirement plan that will keep providing income as
long as needed.
Consider this example: If someone has one
million dollars and that is earning 6% interest,
that’s $60,000 a year in gross income. With longterm care costs running between $4,000 and
$5000 a month, ($58,000 to $60,000 a year),
even someone with this million dollars would
soon be consuming capital to keep up with expenses, leaving little for themselves or their heirs.
Furthermore, once assets are gone, patients may
be forced to rely on Medicare, which limits care
options and may not cover all costs.
The news is not all bad, though. Done
early, the costs of owning LTC coverage is very
reasonable and even in later years, plans can be
designed to fit just about every budget. There
are also ways to have a farm or business pay
the premiums.
While this is an uncomfortable topic, it is
one that we all should address.
If you would like to learn more about this
type of coverage to determine if it fits into your
retirement plan, please give me a call or contact
your East Carolina Farm Credit Branch Office.
We will be happy to see you.
Best Regards,
Lem
Securities offered through Money Concepts
Capital Corporation. Member NASD/SIPC.
11440 Jog Road, Palm Beach Gardens, FL
33418-3764, Tel. (561) 472-2000. •
Association News
Wanted: Photos of Farm Families
I
f your farming operation involves several
generations, we want your photo! The East
Carolina Farm Credit 2008 Photo Calendar will highlight Eastern North Carolina
Farm Family Generations.
Throughout the 34 county area that
ECFC serves, many farming operations include
fathers, sons, son-in-laws, brothers and other
family members. Your photos do not have to
focus exclusively on farming but may also include the following:
• Working on the farm
• Farm activities
• Family Reunions
• Family Traditions or Celebrations
• Sunday Dinners
Photos submitted should include all generations
of family who are involved in the daily farming
activities.
The preferred images are photographs 4X6
or larger, with glossy (not satin) finish. When
providing digital camera images, please give a
high quality printout (4X6 or larger), and the
digital file. This file must be 1.5MB or larger so
when enlarged it does not lose color or sharpness. All images will become the property of
East Carolina Farm Credit. No images will
be returned.
All entries must be received by August 31,
2007 and photos must be identified with name
and address on the back of the picture (please
use a label for this information). Winning entries will be featured in the fall issue of the Farm
Credit Leader and online at www.farmcredit.
org. Cash prizes will be:
1st Place
$300.00
2nd Place
$200.00
3rd Place
$100.00
To submit an entry, simply complete the attached form and mail it along with your photo to East
Carolina Farm Credit, PO Box 14789, Raleigh, NC 27620 Attn: Linda Strickland. If you have any
questions, please call 800-951-3276, xt. 214 or inquire by email to [email protected].
East Carolina Farm Credit Photo Contest Image Submission Form
Submit one form with each photograph (photocopies of this form are acceptable)
Name______________________________________________________________________
Address____________________________________________________________________
City___________________________State_______Zip________________
Phone_______________E-mail Address____________________________
Briefly describe your photo: (What is happening...when and where it was taken.)
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
Signature of Contributor _________________________________________
I/We understand that images will not be returned and each photo submitted comes with full and
unlimited rights to print the photo, without credit, in East Carolina Farm Credit literature, without
further obligation to the photographer or those people who have their person or items pictured.
Send entries to: Linda Strickland, East Carolina Farm Credit, PO Box 14789, Raleigh, NC 27620
25
Employee News
Employee Recognition
The association held
its annual Employee
Recognition Banquet on
February 18 in Raleigh.
Employees, directors,
and their guests enjoyed
dinner and comments by
after-dinner speaker, Glen
Ward. The highlight of the
evening was the recognition
of employees for special
achievements during 2006.
STAR Program
Service Awards
The STAR (Serving The Agricultural Region)
Program was designed to recognize those employees who contribute 50 or more hours to a
nonprofit organization. Upon completion of
the employee’s 50 hours, the association contributes $500 to the nonprofit organization.
During 2006, the following employees earned
$500 for their respective organizations:
Awards are presented to employees during their
first year of employment. Thereafter, employees are recognized at each five year anniversary.
Twelve employees with a total of 220 years of
service were recognized. In addition, ten new
employees who joined the association during
the last year were also recognized.
Max Gardner
Boy Scouts of America - Troop 816
30 Years
Kent Redett
Cathy Holland
Rachel Nicholson
Henderson Chapter Women of the Moose
Danny Alexander
Rotary International Foundation
25 Years
Alan Hawkins
Dave Corum
Joan Hoggard
Brian Smith
20 Years
Lydia Baker
Donna Knotts
15 Years
Robin Everett
Dave Corum
David Herring
North Lenoir High School Drama Club
10 Years
Stephanie Mills
Jeff Barnes
Rick Cowan
Williamston Youth Baseball
5 Years
Ashton Watkins
Christine Reel
Kris Hines
Northwest Youth Sports - Girls Softball
Gene Charville
Boy Scouts of America - Troop 215
R.E.D.S. Team (Rescue & Search Team)
The Dream Factory
Employees receiving service awards included:
New employees recognized for one year or
less of service include: Geneva Colie, Quincy
Adams, Sara Bennett, Shaunnika Johnson,
Jackie Streeter, Crystal Sutton, Ashley Wiggins,
Melissa Grady, David Hill, and Ivory Leary.
Congratulations to all!
26
Employee Retirement
F
Special recognition went to the following employees in the areas as listed:
Branch of the Year Growth
New Bern Staff
Jeff Barnes
Patricia Talvacchio
Ashton Watkins
Ashley Wiggins
Branch of the Year
Customer Service
Elizabeth City Staff
Tommy Long
Edward Farrow
Ellen West
Judy Winslow
Top Performer Roy Robertson
New Loans Louisburg
Top Performer
Branch Loan Growth
Rick Chilton
Nashville
Top Performer
Agribusiness Loan
Growth
Donald Mozingo
Raleigh Agribusiness
Top Performer
Credit Life
Insurance Sales
Hattie Alston
Nashville
Top Performer
Crop Hail/Multi-Peril
Crop Insurance Sales
Rick Chilton
Nashville
Top Performer
Country Home Loans
Brian Johnson
Raleigh
Top Performer
Community Service
Danny Alexander
Greenville
ran Cooper, Customer Service Representative in the Williamston office, retired
on December 31, 2006. Fran began her
Farm Credit career with the Federal Land Bank
in Washington, N.C., in 1978. Fran says, “I’ve
worked through several name changes, consolidations, and mergers, but I enjoyed every minute
of working with the farmers in eastern North
Carolina.” “I enjoyed the people and the employees,” she said, “We were one big happy family.”
After the merger of Tar Heel Farm Credit
with the former East Carolina Farm Credit in
July of 2000, and the consolidation of the offices in Williamston, Windsor, and Washington
in 2003, Fran moved to the Williamston office.
Fran is looking forward to spending more
time with her husband, Nat, and enjoying her
family. She and Nat, along with her six sisters,
recently took a bus trip to Atlantic City, N.J.,
and had a great time while there. On their return trip home, the bus was involved in an accident off of Interstate 95. Fran says, “That was
really frightening and we feel so very lucky to
have not been injured.” She’s still looking forward to having more time to travel. •
Congratulations Fran
on 28 years of service!
Board Chairman Tommy Winslow congratulates Fran
Cooper upon her retirement.
New Employee
Welcome to Ivory Leary, Customer Service Representative in the Williamston office, who began
her employment with the association in November. Prior to joining ECFC, Ivory was employed
with the Martin County Governmental Center
in Williamston. Ivory resides in Williamston
with her fourteen-month old daughter, Shania.
Ivory’s favorite pastime is shopping, “Especially
for my daughter,” she says. When time permits,
she also enjoys reading. If you haven’t had a
chance to meet Ivory, stop by the Williamston
office and say “hello.” Ivory says, “Both the employees and customers have embraced me with
open arms. Everyone has been so helpful as I
continue learning more about Farm Credit. It
feels like family.” •
Ivory Leary
27
Health Matters
Know Your Cholesterol
Numbers and Practice TLC
By: Carol S. Mitchell, PhD, RD, LDN, Wake County Cooperative Extension
High blood cholesterol is a serious condition
Why is it important to know your numbers?
that can affect anyone. It increases risk for
Typically there are no symptoms associheart disease, the number one cause of death
ated with high cholesterol levels and many indiof Americans. There are lifestyle strategies you
viduals with high cholesterol are not aware of it.
can implement to lower your blood cholesterol
Health professionals recommend that all adults
and thus protect your health. Just as anyone
age 20 and older have their cholesterol levels
can develop high blood cholesterol so can we
checked at least once every 5 years. Discuss with
all take steps to reduce blood cholesterol and
your physician if you should have your choleslive healthier.
terol tested more often.
Cholesterol is a fat-like substance located
in cell walls throughout the body. This sub- Risk factors for Heart Disease
stance is used to make bile acids, hormones, viFactors you cannot change:
tamin D as well as other substances. Cholesterol
• Age: males 45 or older, women 55
travels in the blood in packages called lipoproor older
• Family history of early onset heart
teins. There are two kinds of lipoproteins that
carry cholesterol:
disease
• Low density lipoprotein (LDL), often reFactors you can change
ferred to as the “bad cholesterol,” carries
• Smoking
cholesterol to tissues. The higher the level
• High Blood pressure
of LDL in the blood, the greater the risk
• High blood cholesterol
for heart disease.
• Overweight/obesity
• High density lipoprotein (HDL), often
• Physical inactivity
referred to as “good cholesterol,” carries
• Diabetes
cholesterol away from tissues to the liver
and out of the body. A low level of HDL
Healthy Eating Strategies
increases the risk for heart disease.
It is critical to remember that the saturated fat in your diet raises your blood cholesterol
High blood cholesterol is a major risk
more than anything else in your diet. There has
factor for heart disease. Excess cholesterol can
been much attention directed to trans fat in the
be trapped in artery walls and, over time, ac- diet. Remember that trans fat makes up only
about 2.5 percent of total calories versus 11
cumulate to form plaque. As plaque builds up
percent provided by saturated fat in the averthe vessels narrow and become less flexible and
eventually can develop into what is often called
age American diet. Most people eat much more
“hardening of the arteries” also called atheroscle- saturated fat.
Saturated fat is typically solid at room
rosis. If the atherosclerosis affects the coronary
and refrigerator temperatures. The foods that
arteries the resulting condition is coronary heart
disease. If blood flow is blocked through the ar- contain the greatest amounts of saturated fat
include animal foods, skin of poultry, fatty
tery a heart attack can result.
meats, whole milk dairy products, lard, coco-
nut oil and palm oil. Studies have shown that
reducing the amount of dietary saturated fat
can be effective in reducing LDL. If you have
high cholesterol current guidelines suggest that
saturated fat intake should be less than 7 percent of total calories.
Remember, also, to keep your intake of
transfat low as possible. Studies have shown
that high trans fat intake increases the risk
of coronary heart disease. Trans fat has been
shown to raise total cholesterol and low density
(LDL) cholesterol. The leading sources of trans
fat include stick margarine, baked items such
as crackers, cookies, doughnuts and breads and
foods fried in hydrogenated shortening. Use the
Nutrition Facts label and the ingredient list on
food packages to determine the amount of trans
fat in a food item. Remember that hydrogenated or partially hydrogenated vegetable oil likely
means presence of trans fat.
Keep dietary cholesterol to less than 200
milligrams. Sources include foods of animal origin, organ meats, egg yolks, shrimp and whole
milk dairy products.
What Else You Can Do
For help and guidance in reducing your
blood cholesterol The U.S Department of
Health and Human Services, National Institutes
of Health, National Heart, Lung, and Blood Institute recommends following the Therapeutic
Lifestyle Changes or “TLC Program”. This is a
three-part program that incorporates healthy eating, physical activity and weight management.
Making lifestyle changes is not easy for
most people. It is important to keep your eye on
the goal of living a healthier and longer life. As
you make changes encourage your family and
friends to join you in adopting a heart healthy
Continued on Page 30, See CHOLESTEROL
28
Recipes
Fire Up The Grill
Grilled London Broil
Easy Cheesy Grilled Potatoes
1/2 cup red wine vinegar
4 to 6 potatoes, unpeeled, cut into 1 -1
1/2 inch cubes
1/2 cup soy sauce
1/2 cup vegetable oil
1/2 tsp. Black Pepper
4 cloves of garlic, sliced
Delicious grilling recipes
that will surely please
your entire crowd.
1 medium onion, sliced and separated
into rings
4-6 slices cheese (1 slice per potato)
1 (3 1/2 lb.) London Broil
Salt & pepper to taste
Combine first five ingredients in a large
shallow dish, mixing well. Add steak. Turn
to coat each side. Cover and refrigerate 12
hours. Remove steak from marinade. Grill
covered over medium hot coals on each
side until desired degree of doneness, basting occasionally with marinade. Remove
from grill, wrap in foil after pouring excess
marinade over steak. Let stand in marinade 5 minutes, slice and serve.
Slice the onion and cube the potatoes.
Place on a large sheet of heavy-duty aluminum foil, layering potatoes and onions
twice. Place the cheese slices on top and
close the foil tightly. Place on grill for 30
to 45 minutes while grilling meat. These
potatoes are so good you may need to double the recipe! (Makes 2 foil packs when
doubling).
Grilled Bread
1 bottle (8 oz.) Kraft House Italian Dressing
1 loaf French bread, cut into slices
Preheat grill to medium heat. Spread dressing generously onto both sides of bread
slices. Grill 3 minutes on each side or until
golden brown on both sides. Serve warm.
29
Articles Continued
HORIZONS, Continued from Page 4
Farm Credit presented these proposals at
a hearing held Tuesday, March 27 before the
House Agriculture Committee’s Subcommittee
on Conservation, Credit, Energy and Research.
Testifying on behalf of Farm Credit were Mr.
Apple and Doug Stark, President and CEO of
Farm Credit Services of America, a Farm Credit
association serving Iowa, Nebraska, South Dakota and Wyoming.
“For nearly 90 years, the Farm Credit System has been rural America’s customer-owned
partner,” Mr. Stark said. “Tomorrow’s agriculture - more complex, more diverse and more
consumer-driven than ever before - requires
more industry cooperation, community collaboration, financial support and investment,
dependable infrastructure and updated public
policy, in order to ensure continued success and
a bright future for rural America.” •
NOTE: The House Agriculture Committee has a
live audio feed of the hearing, which can be accessed at http://agriculture.house.gov/hearings/audio.html. The hearing was held on Tuesday, March
27. Photos of the hearing are posted at http://www.
flickr.com/photos/farmcredit.
The Farm Credit System is rural America’s
customer-owned partner. Farm Credit helps maintain and improve the quality of life in rural America and on the farm, through its constant commitment to competitive lending, expert financial
services and advice, and a feeling of partnership
with its customers. The Farm Credit Council is the
national trade association representing the interests
of the institutions of the Farm Credit System. For
more information visit www.fccouncil.com.
30
BUILDER, Continued from Page 19
your warranty concerns in a timely manner
and do some research before giving you an
answer.
Involved in the Community
• How involved is the builder in the community?
• Do they give back in anyway?
Donating to charity and getting involved shows
that the builder cares for your community and
does more than just build houses.
Variety
• Options allow you to put your personal touch
on your new home, whether it is product or
material upgrades or differences in the actual
floor plan.
• The right builder will provide you with the
options that will best suit your needs and has
the knowledge, experience, and expertise to
help you make appropriate choices to personalize your home design.
Value
Smart buyers don’t just measure quality by square
footage and price alone. Smart buyers value:
1.The quality of service they get from the
builder.
2.The quality of the material and craftsmanship in their home, the floor plan, the
value of their long-term investment.
3.And most important, smart buyers measure quality in the peace of mind they have
when they move into their new home.
Remember to do your homework and understand how custom builders work and you will
have the confidence you need to correctly select
a custom builder that is right for your own specific needs. •
CHOLESTEROL, Continued from Page 28
lifestyle. The lifestyle strategies included in the
TLC program are appropriate for all people;
however, if your goal is to reduce your blood
cholesterol you will need to maintain a lower
intake of saturated fat and cholesterol—just eat
less saturated fat, trans fat and cholesterol. As
you incorporate increasing amounts of physical
activity into your daily routine include friends
and family members—you will be sharing the
health benefits.
To learn more about cholesterol, heart disease prevention, and the TLC program go to:
http://www.nhlbi.nih.gov/health/public/heart/
chol/chol_tlc.htm. •
East Carolina Farm Credit, ACA
Consolidated Balance Sheets
East Carolina Farm Credit, ACA
March 31,
2007
(dollars in thousands)
First Quarter Financial Report
Consolidated Balance Sheets
Assets
Cash
(dollars
Loans in thousands)
(unaudited)
(audited)
$ March 1,626
31,
2007
727,504
$
4,240
December
31,
2006
727,554
(audited)
11,046
(unaudited)
11,050
Less: allowance for loan losses
Assets
Net loans
Cash
Other investments
Loans
Accrued interest receivable
Less: allowance for loan losses
Investment in other Farm Credit institutions
Net loans
Premises
and equipment, net
Prepaid retirement expense
Other investments
Due from AgFirst Farm Credit Bank
Accrued interest receivable
Other assets
Investment in other Farm Credit institutions
Total
assets
Premises
and
equipment, net
Prepaid retirement expense
Due
from AgFirst Farm Credit Bank
Liabilities
Other assets
Notes
payable to AgFirst Farm Credit Bank
Accrued
interest
Total
assetspayable
Patronage refund payable
Postretirement benefits other than pensions
Liabilities
Other liabilities
Notes payable to AgFirst Farm Credit Bank
Total
liabilities
Accrued
interest
payable
Patronage refund payable
Commitments and contingencies
Postretirement benefits other than pensions
Other
liabilities
Members'
Equity
Capital stock and participation certificates
Total liabilities
Retained earnings
$
$
$
$
$
Allocated and contingencies
Commitments
Unallocated
Members' Equity
equity certificates
CapitalTotal
stockmembers'
and participation
Retained earnings
Total liabilities and members' equity
Allocated
Unallocated
December 31,
2006
716,454
1,626
57,640
727,504
11,402
11,050
10,590
716,454
6,160
6,491
57,640
1,283
11,402
3,294
10,590
814,940
6,160
6,491
1,283
3,294
677,509
3,333
814,940
240
6,238
10,445
677,509
697,765
3,333
240
6,238
10,445
7,181
697,765
$
$
$
$
$
52,168
57,826
51,993
53,816
117,175
7,181
$
814,940
52,168
57,826
108,790
2,981
$
117,175
Total members' equity
$
814,940
Consolidated Statements
of Income
Total liabilities and members' equity
716,508
4,240
63,589
727,554
18,198
11,046
10,590
716,508
5,972
6,668
63,589
5,823
18,198
3,120
10,590
834,708
5,972
6,668
5,823
3,120
698,331
3,395
834,708
6,078
9,402
8,712
698,331
725,918
3,395
6,078
9,402
8,712
2,981
725,918
Consolidated
Balance Sheets
834,708
51,993
53,816
108,790
$
834,708
(unaudited)
For the three months
ended March 31,
Consolidated Statements2007
of Income
Interest Income
Loans
Other
Total Interest Income
Interest Income
Interest Expense
Loans
Other
Net interest income
Total Interest Income
Provision for (reversal of allowance for) loan losses
Interest Expense
Net interest income after provision for
(reversal of allowance for) loan losses
Net interest income
Noninterest Income
Provision for (reversal of allowance for) loan losses
Loan fees
Fees
for financially
services for
Net interest
incomerelated
after provision
Equity
in earnings
of other
Credit institutions
(reversal
of allowance
for) Farm
loan losses
Other noninterest income
Noninterest Income
Total noninterest income
Loan fees
Fees for financially related services
Noninterest Expense
Equity in earnings of other Farm Credit institutions
Salaries and employee benefits
Other noninterest income
Occupancy and equipment
Insurance
premiumincome
TotalFund
noninterest
Other operating expenses
Noninterest Expense
Total
expense
Salaries
andnoninterest
employee benefits
Occupancy and equipment
Income before income taxes
Insurance Fund premium
Provision (benefit) for income taxes
Other operating expenses
Net income
Total noninterest expense
$
$
$
Income before income taxes
Provision (benefit) for income taxes
Net income
2006
(unaudited)
13,961For the three months
$
841 ended March 31,
2007
14,802
13,961
9,769
841
5,033
14,802
—
$
7,331
4,612
4,612
—
882
267
1,043
4,612
81
2,564
1,032
211
1,283
2,103
38
263
262
2,564
642
2,273
882
267
1,043
2,259
81
240
228
2,273
730
2,103
3,270
263
4,327
262
—
642
4,327
3,270
2,259
3,457
240
3,428
228
11
730
3,417
3,457
$
4,327
3,428
11
$
(unaudited)
11,368
7,331
575
4,612
11,943
—
9,769
5,033
5,033
—
1,032
211
1,283
5,033
38
4,327
—
$
11,368
575
2006
11,943
Consolidated
Statements of Income
3,417
31
Your place in
the Country...
Just a few acres. Somewhere to kick back, shift to a lower gear and get
in touch-with yourself, family and Nature’s simple beauty.
But there are so many things to consider. Like, where to find the land,
who to call, what’s affordable, and where to obtain financing.
That’s where East Carolina Farm Credit comes in. We’ve been lending
money for farms and homes for more than 90 years. We’re the experts
in rural financing. We can help you find the answers.
East Carolina Farm Credit
P.O. Box 14789
Raleigh, N.C. 27620
800.951.3276
www.farmcredit.org
PRSRT STD
U.S. POSTAGE
PAID
COLUMBIA SC
PERMIT 1160

Spring - AgCarolina

Transcription

Similar documents

john fluevog shoes - Page One Publishing

Financial Strength - Indiana Farm Bureau Insurance

Pro Farm Manager is a virtual simulation/management oriented game

Farms handout (16.75" x 10.75")

25, 26,27,28 September-2015 VOC Ground, Erode-India.

Farm Boy keeps it close to home with 40+ local suppliers New

January

Howard County Living Farm Heritage Museum

January 2014