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FCS of Illinois Posts Record Year
Champaign, Illinois, January 30, 2004 -- Farm Credit Services of Illinois saw records fall by the wayside in 2003 as it posted increases in new real estate loans, the number of loans closed, and an increase in appraisals.
In 2003, the Association recorded:
- $244.4 million in new real estate loans, a 22% increase over the 2002 record of $227.9 million;
- An 11% increase in the total number of loans closed;
- A 14% increase in the number of real estate tracts appraised by FCSIL appraisers; and
- A loan approval rate of 93.5%, one percent higher than in 2002.
The Association continued unveiling television, radio and print advertisements that are part of its We Understand marketing campaign, which reflects the value Farm Credit Services of Illinois brings to the farm and the marketplace. “We have unique relationships with our customers. We know farming, the rewards and challenges farm life offers,” said Ron Frenn, President and CEO. “Our customers appreciate the fact that we offer products that meet their specific needs. We Understand reflects those relationships and our commitment to customer service.”
Farm Credit Services of Illinois, a farmer-owned cooperative with $1.3 billion in assets, is the largest agricultural lender in its market. It provides financial and insurance products to the farmers and rural residents of the southern 60 counties in Illinois through its 23 branch offices, and is part of the nationwide Farm Credit System.
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