AgSouth Farm Credit Chairman of the Board Charles C. Rucks recently announced that Phillip E. Love, Jr., of Richland County, S.C., was appointed to serve as a director of the Association. The appointment coincided with AgSouth’s Board of Directors meeting held in February. Love takes the place of John R. Wells, whose term expired in December.
According to Rucks, unlike the majority of AgSouth’s directors, Love will serve as an “outside” director, meaning that he is not a member-borrower of the Association. AgSouth has a history of including outside directors on the board to foster better management practices. “The outside directors,” says Rucks, “bring a different voice and new insights into the operation of the Association to help ensure that our cooperative remains strong and viable. Mr. Love, who has a background in business finance, insurance, and agriculture, will join the current outside directors as he takes his seat on the board beginning with the March Board of Directors meeting.”
Love is a consultant and recently retired after 38 years of service with the South Carolina Farm Bureau, where he served as CEO. Through his leadership and experience, he has a long history of success in strategic planning, and according to Rucks, “will be a very welcome addition to our leadership as we continue to grow our membership in Georgia and South Carolina.”
AgSouth Farm Credit is one of the strongest agricultural lending cooperatives in the Southeast. As of December 31, 2013, AgSouth had more than 8,100 members, $1.59 billion in assets and $285 million in capital and allocated accounts.
AgSouth Farm Creditprovides loans for land, equipment and production agriculture; crop insurance; leasing; and home mortgages. The association is headquartered in Statesboro, Ga., with administrative offices in Spartanburg, S.C., and Orangeburg, S.C. The cooperative’s 24 branches serve 59 Georgia and 34 South Carolina counties.