We currently have 2 Association cars for sale, both are located at our
Williston office presently. For more information please contact Ruchel at
800-639-3053.
2009 Toyota Camry LE V6, black with 108,500 miles. $7,250
2010 Subaru Legacy 2.5i Premium with all-weather package (heated seats,
mirrors). Graphite gray metallic with 68,000 miles. Some cosmetic blemishes.
$10,250
UPDATE 4/30 - both cars have been sold.
Wednesday, March 26, 2014
Wednesday, March 19, 2014
2014 Annual Meetings
Our 2014 Annual Meetings are fast approaching. As always we will have 4 regional meetings. If you would like to pre-register by email, just click on the location below. Please be sure to let us know how many will be attending!
This year we will be having 3 evening meetings beginning at 7 pm with registration at 6:30 pm:
Be looking for your 2014 Annual Meeting Information Statement which were mailed to members yesterday. Included in that statement is information on the Director Nominees which we initially posted about here.
Yankee's 2013 Annual Report was mailed to members last week and is also available on our website. A special thanks to the Rulf's family for allowing us to feature them on the front cover.
We look forward to seeing everyone in a few weeks!
This year we will be having 3 evening meetings beginning at 7 pm with registration at 6:30 pm:
- Monday, April 7th - The Eastside Restaurant in Newport
- Tuesday, April 8th - The Middlebury Inn in Middlebury
- Thursday, April 10th - The American Legion in St Albans
- Thursday, April 10th - Jesse's Steak and Seafood in Hanover, NH
Be looking for your 2014 Annual Meeting Information Statement which were mailed to members yesterday. Included in that statement is information on the Director Nominees which we initially posted about here.
Yankee's 2013 Annual Report was mailed to members last week and is also available on our website. A special thanks to the Rulf's family for allowing us to feature them on the front cover.
We look forward to seeing everyone in a few weeks!
Tuesday, March 18, 2014
2014 Maple Open House Weekend
Obviously Mother Nature is a little confused this year and has forgotten that it is sugaring season - which requires warmer days followed by cool nights. While the cool nights certainly haven't been an issue, the warm days just haven't made their way to the Northeast yet this year.
In spite of the weather, this weekend, Vermont, New York and New Hampshire are all promoting their upcoming Maple Open House weekends. Sugar makers across the various states will open the doors of their sugar houses to the public so that everyone can check out how maple syrup is made (and maybe even do a little sampling).
March 22nd and 23rd, both the Vermont Maple Sugar Makers Association and the New Hampshire Maple Producers Association will be having their 2014 Maple Open House Weekend.
In New York they have 2 Maple Weekends coming up. March 22nd and 23rd and again on the 29th and 30th.
We will keep our fingers crossed here at Yankee for some warmer temperatures.... meanwhile, all of you should make plans to get out there and check out some sugar houses, what a great way to spend a March day!
In spite of the weather, this weekend, Vermont, New York and New Hampshire are all promoting their upcoming Maple Open House weekends. Sugar makers across the various states will open the doors of their sugar houses to the public so that everyone can check out how maple syrup is made (and maybe even do a little sampling).
March 22nd and 23rd, both the Vermont Maple Sugar Makers Association and the New Hampshire Maple Producers Association will be having their 2014 Maple Open House Weekend.
In New York they have 2 Maple Weekends coming up. March 22nd and 23rd and again on the 29th and 30th.
We will keep our fingers crossed here at Yankee for some warmer temperatures.... meanwhile, all of you should make plans to get out there and check out some sugar houses, what a great way to spend a March day!
Friday, March 14, 2014
2013 Financial Results
Full-year net income for Yankee was $9.3 million, an increase of $640 thousand over 2012. The most significant factor driving the increase was net interest income which increased 14.8 percent to $14.3 million, up from $12.4 million in 2012. Also contributing to the increase in net income was an increase of $263 thousand in patronage refunds from CoBank. These increases were offset by an increase of $790 thousand in expenses other than interest expense and a decrease in refunds from the Farm Credit System Insurance Corp (FCSIC) of $393 thousand.
Year-end loan volume at December 31, 2013, was $413.3 million, up 7.3 percent from the prior year. The loan portfolio continues to be concentrated in the dairy industry, with 53 percent of the loans invested in dairy businesses. The second largest concentration is timber, with 13 percent of the loan volume at year-end.
Credit quality across Yankee’s loan portfolio improved during 2013 and remained well within the risk-bearing capacity of the Association. At year-end 0.8 percent of the Association loans were classified as nonperforming, compared to 1.5 percent at the end of 2012. There were no charge-offs and a recovery of $6 thousand recorded during 2013. The Association’s capital position remains strong.
The Board of Directors approved a patronage refund to members in the amount of $4.9 million for 2013, to be paid 100% in cash, which is approximately the same amount that was paid for 2012. 2013 patronage payments will be made on or about March 25, 2014. Patronage refunds will be distributed either in the form of a check or direct deposit to members’ bank accounts.
Click here for the full annual report to shareholders.
Year-end loan volume at December 31, 2013, was $413.3 million, up 7.3 percent from the prior year. The loan portfolio continues to be concentrated in the dairy industry, with 53 percent of the loans invested in dairy businesses. The second largest concentration is timber, with 13 percent of the loan volume at year-end.
Credit quality across Yankee’s loan portfolio improved during 2013 and remained well within the risk-bearing capacity of the Association. At year-end 0.8 percent of the Association loans were classified as nonperforming, compared to 1.5 percent at the end of 2012. There were no charge-offs and a recovery of $6 thousand recorded during 2013. The Association’s capital position remains strong.
The Board of Directors approved a patronage refund to members in the amount of $4.9 million for 2013, to be paid 100% in cash, which is approximately the same amount that was paid for 2012. 2013 patronage payments will be made on or about March 25, 2014. Patronage refunds will be distributed either in the form of a check or direct deposit to members’ bank accounts.
Click here for the full annual report to shareholders.
Saturday, March 1, 2014
FarmStart - Jason Spaulding in the news
FarmStart customer Jason Spaulding was featured in the March 2014 edition of American Agriculturist.
Click here to read the article by Susan Harlow of Westminster Station, Vt.
Monday, February 24, 2014
NOFA Vermont's 32nd Annual Winter Conference
Yankee has been attending NOFA's winter conference for quite a few years now and during that time we have seen this conference grow tremendously. The theme for this 3 day event held at the University of Vermont was "Growing Outside the Box". NOFA put together a great variety of workshops and speakers that directly related to that theme.
Yankee had a variety of staff attend the conference. Some even broke away from the booth to listen to a few presentations. Dave Lane, Senior Loan Officer, participated in a lenders panel titled "Financing Your Dream Farm."
Attending the NOFA Winter Conference emphasized something here at Yankee that we have always known: Vermont farmers are unique and innovative. There are some exciting things happening out there and at Yankee, we are interested in financing all types of Agriculture - big or small, organic or conventional. If your ag operation is somewhat unique and you aren't sure if you would qualify, give one of our loan officers a call - let's talk!
Attending the NOFA Winter Conference emphasized something here at Yankee that we have always known: Vermont farmers are unique and innovative. There are some exciting things happening out there and at Yankee, we are interested in financing all types of Agriculture - big or small, organic or conventional. If your ag operation is somewhat unique and you aren't sure if you would qualify, give one of our loan officers a call - let's talk!
Wednesday, February 19, 2014
NH Farm and Forest Expo
'Tis the season for trade shows! Yankee staff have been busy attending various industry meetings and conferences. Last week, Ken Nelson, Assistant Vice President, Jean Conklin, Senior Loan Officer and Clara Ayer, Loan Officer, all of the White River Junction office attended the NH Farm and Forest Expo held in Manchester, NH. This year marked the show's 31st year.
Not only is this event an industry trade show, but this year they offered over 20 educational workshops. Jean participated in the "Accessing Business Capital: Pathways to Successful Financial Relationships" workshop put on by the NH Ag Financiers group.
Overall, the show was well attended with lots of young people involved with 4-H and FFA. It's always exciting to see the younger generations at these events showing an interest in agriculture!
Not only is this event an industry trade show, but this year they offered over 20 educational workshops. Jean participated in the "Accessing Business Capital: Pathways to Successful Financial Relationships" workshop put on by the NH Ag Financiers group.
Overall, the show was well attended with lots of young people involved with 4-H and FFA. It's always exciting to see the younger generations at these events showing an interest in agriculture!
Vermont Vegetable and Berry Growers Association Annual Meeting
With all the extreme cold weather we have gotten this winter its hard to think about growing veggies! But on January 27th, a large group of growers gathered at the Capital Plaza in Montpelier for the Vermont Vegetable and Berry Growers Annual Meeting to do just that. The Association, who has about 235 members, put on a meeting which included a variety of speakers that covered topics from labor laws to pest control.Clara Ayer, a loan officer, from the White River Junction office was in attendance to chat with producers on what Yankee can offer to this growing industry.
Tuesday, February 18, 2014
2013 Patronage Refund
2013 proved to be a good year for Yankee. We are fortunate to have a great group of hardworking employees but also a strong member base who strive for good financial performance within their businesses. Due to efforts at both the employee and member level, we are pleased to share our success with members by again issuing a patronage refund.
The Board of Directors approved a patronage refund for 2013 of $4,934,000, which is 1.125% of average member loan volume. Payment of the patronage refund is contingent upon satisfactory completion of the 2013 audit and the Association's receipt of its 2013 patronage refund from CoBank. It is expected that both of these conditions will be satisfied in March. Members can expect their checks to be mailed on or about March 25th. Those who are signed up to receive theirs electronically should see the refund hit their accounts on March 27th.
To all those who contributed to Yankee's success in 2013, thank you!
To all those who contributed to Yankee's success in 2013, thank you!
2014 Director Nominees
Our 2014 Annual Meetings are fast approaching. This year's meetings will be held April 7th-10th. As always, votes will be cast at each meeting to determine who will be elected for a 3 year term as an Association Director.
Yankee's Nominating Committee has nominated the following individuals for Association Director:
Region 1:
Dr. Heather Darby
Celeste Kane-Stebbins
Dr. Marco Turco
Region 2:
Walt Gladstone
Region 3:
Cliff Allard
Paul Franklin
If you are a Yankee member, be sure to attend your regional meeting. Not only is it a chance to vote for Association Director, but you can also learn more about your Association, socialize with other members and we usually have a tasty meal too!
Annual Meeting Schedule:
Monday April 7th @ 7 pm - Eastside Restaurant, Newport
Tuesday April 8th @ 7 pm - Middlebury Inn, Middlebury
Thursday April 10th @ 10 am - Jesse's, Hanover, NH
Thursday April 10th @ 7 pm - American Legion in St. Albans
Yankee's Nominating Committee has nominated the following individuals for Association Director:
Region 1:
Dr. Heather Darby
Celeste Kane-Stebbins
Dr. Marco Turco
Region 2:
Walt Gladstone
Region 3:
Cliff Allard
Paul Franklin
If you are a Yankee member, be sure to attend your regional meeting. Not only is it a chance to vote for Association Director, but you can also learn more about your Association, socialize with other members and we usually have a tasty meal too!
Annual Meeting Schedule:
Monday April 7th @ 7 pm - Eastside Restaurant, Newport
Tuesday April 8th @ 7 pm - Middlebury Inn, Middlebury
Thursday April 10th @ 10 am - Jesse's, Hanover, NH
Thursday April 10th @ 7 pm - American Legion in St. Albans
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