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Farm Credit East and Yankee Farm Credit are pleased to announce the board of directors of both associations have unanimously approved the signing of a letter of intent to merge the two organizations. This letter sets forth the terms and conditions of a proposed merger, which requires regulatory and stockholder approval. The combined association will operate under the Farm Credit East name and, if all conditions are met, the newly merged association is expected to begin operation under the management of Farm Credit East CEO Mike Reynolds on January 1, 2022.

The 2021 director candidates were formally introduced at Farm Credit East’s Annual Meeting in March, and following, voting stockholders were mailed their ballots to vote in the 2021 Director Elections. As a customer-owned cooperative, the annual director election is an important opportunity for stockholders to express their voice in ownership and direction of the cooperative. Farm Credit East encourages members to vote. Ballots must be submitted by 5:00 p.m. on Monday, April 12.

At Farm Credit East’s Annual Meeting held earlier this week, the financial cooperative was pleased to announce two winners of the inaugural Lipinski Rural Initiatives award. Each recipient was awarded $25,000.

Farm Credit East reported solid 2020 financial results today, showing continued growth in loans coupled with strong earnings, which allowed the financial cooperative to distribute a record $89 million in patronage dividends to eligible customer-owners on 2020 earnings.