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formation about the trip should contact the Lynes at Route 1, Box 465, Washington, VA 22747, 9878588.
FLBA Issues
Dividend
The Board of Directors of the Federal Land Bank Association of Warrenton announced that the Association has declared a 5 percent dividend based on 1982 projected operations.
Tim Tarr, General Manager, advises that approximately $422,800 will be returned to slock holding members in its ten county area.
The dividend was paid to members of record September 30, 1982. The dividend checks were prepared by the Association offices in Warrenton, Leesburg, Orange and Culpeper and mailed to its members in ntid December. Bob Houck, Branch Manager of the Warrenton ofFtce said that $166,512 in dividends was paid in the counties of Fauquier, Prince William, Rappahannock and Stafford.
Tarr reported that the Federal Land Bank experienced modest financial growth in 1982 resulting from a steady increase in both membership and loan volume. Membership in the cooperative association has climbed to 2,200, while loan volume will exceed $162,000,000. This resulted in an increase of 6 percent and 7 percent respectively over 1981.
The Board of Directors anticipate less demand for credit due to current agricultural and economic conditions but the Association is prepared to assist farmer members wherever possible. It was also noted that more people are realizing the true significance of cooperatives, how they work and operate and that the borrowers as stockholders have a voice in how they would like to see the cooperative function. This is the third consecutive year that a dividend has been declared for the membership.
In addition to the dividend, the Association also approved the retirement of excess capital stock. The result of this effort returned $78,300 to owner-members of the Warrenton Farm Credit Association.
"It is the beautiful bird that gets caged." Chinese proverb
77.7%