FEDERAL LAND BANK OF SOUTH ALABAMA CHANGES NAME
MONTGOMERY, Ala. -- The Federal Land Bank Association of South Alabama -- a name familiar to farmers and landowners for more than 90 years -- has undergone a name change and broadened its services to include operating and equipment loans.
Now known as Alabama Ag Credit, ACA to reflect its new status as an agricultural credit association, it now offers short- and intermediate-term financing in addition to land and mortgage loans.
The name and lending changes are the result of a vote last September by the cooperative association's stockholder-owners to convert to an ACA. While Alabama Ag Credit will continue to finance and refinance rural real estate, timberland and recreational land purchases and improvements, the association will now also offer loans for equipment and operating expenses, such as seed, feed and livestock purchases.
"Our association is not merging or being acquired. We are a very strong financial institution and we are excited about growing even more with this new opportunity," said Thomas Dozier, chairman of the Alabama Ag Credit Board of Directors. "You will still find the same friendly people to work with and the same land financing experts. Only now we have even more to offer our stockholder-owners."
Alabama Ag Credit finances farmers, rural landowners and agribusiness owners throughout South Alabama. The association is headquartered in Montgomery and has nine branch offices in Demopolis, Dothan, Enterprise, Loxley, Monroeville, Montgomery, Opelika, Selma and Tuscaloosa. It is part of the nationwide Farm Credit System, the nation's largest lender to rural America.
For more information, visit www.AlabamaAgCredit.com.