November 20, 2020
Dear Farm Credit East Customer:
We hope you continue to be well. Despite this challenging year, Farm Credit East’s financial results and financial condition are strong, and the cooperative is on track to be able to pay the remainder of the 2020 patronage in early 2021 following the advance on patronage paid this summer.
We continue to monitor COVID-19 developments in each of the states we serve and will adjust our business practices to best serve members while ensuring the safety of staff and customers.
Our offices remain open to customers by appointment. All visitors must wear a face mask for the duration of their visit and meetings will be kept to assigned meeting spaces that are regularly sanitized.
Staff have returned to visiting customer operations, so whether in person or virtual, be in touch with your Farm Credit East representative to schedule a meeting however you feel most comfortable.
Our team also remains committed to providing you with useful information as you navigate COVID-19 federal and state relief programs and tax law changes relevant to ag businesses. Visit our regularly updated COVID-19 resource page at FarmCreditEast.com/ResourceHub to stay informed.
The Resource Hub also contains information regarding Paycheck Protection Program (PPP) loan forgiveness, including frequently asked questions and the option to set up a one-on-one meeting with a knowledgeable Farm Credit East consultant. While we do not recommend customers apply for forgiveness yet, this information is helpful as businesses prepare for the application process. Visit FarmCreditEast.com/ResourceHub to learn more.
Also important to us is the security of your information, especially during these uncertain times. We remind all customers to stay vigilant and keep an eye on your accounts for any suspicious activity. Check out a few cyber security tips provided in the September Knowledge Exchange Partner. Contact your Farm Credit East representative if you have any cause for concern.
Fall Customer Meeting
In closing, thank you to all those who joined us for our virtual Customer Appreciation Meeting on November 17. This is an event our team looks forward to each year, and while we weren't be able to visit in person, we still wanted to take the opportunity to show our appreciation for our customer owners and the many efforts you have made during this extraordinary year and beyond.
Until next time, stay well,
Michael J Reynolds
Chief Executive Officer
Farm Credit East, ACA