spending christmas at the white house - Carolina Farm Credit

CAROLINA FARM CREDIT • WWW.CAROLINAFARMCREDIT.COM • DECEMBER 2005
SPENDING CHRISTMAS
AT THE WHITE HOUSE

Sprouts!
Leader
is published quarterly for stockholders, directors
and friends of Carolina Farm Credit.
PRESIDENT
Larry W. Shoffner
“Happy is the man that hath his quiver full of them [children],” is the wisdom written
in the 127th chapter of Psalms, 5th verse. Children are indeed precious, so we want to
help celebrate our new arrivals with a contest called Sprouts.
If you are a member of Carolina Farm Credit and have a new child or grandchild that was
born on or after January 1, 2005, please complete the attached coupon and drop it by your local
office or mail to the address below. We will send your newborn a Carolina Farm Credit Sprout Cap
to protect them from the sun.
If you send a photo of your sprout wearing our cap, we’ll publish the photo in our
Carolina Farm Credit Leader and enter them in our Sprout Photo Contest. The Spryest
Sprout, the photo chosen as the best in the eye of the judges, will be awarded a 529 College
Savings Plan in the amount of $529.00.
Employees and directors of Carolina Farm Credit are not eligible for the grand prize.
Please fill out the following information and mail it to:
Marketing Department; Carolina Farm Credit; PO Box 1827; Statesville, NC 28687
Parent’s Name
Phone
Address City State Zip
Child’s Name
Child’s Date of birth
Is Baby Boy
or Girl
Are parents Carolina Farm Credit Members? yes
no
Are Grandparents Carolina Farm Credit Members? yes
no
BOARD OF DIRECTORS
J. Carroll Goodman, Chairman
Clark M. Newlin, Vice Chairman
Bobby R. Atkins
John M. Barnard
E. Bernard Beck
Mark A. Bray
George K. Davis
Charles L. “Butch” Deal
Bobby Joe Gambill
Gary W. Herlocker
Joseph A. Lail
Dennis T. Leamon
W. Stephen Love
Bobby J. “Bud” Matthews
Bobby E. McCollum, Jr.
R. Dwayne Myers
Thomas M. Porter, Jr.
Tony L. Ragan
Dr. Alton Thompson
Aubrey N. Wells
EDITOR & MARKETING OFFICER
Maggie G. Hamm
PUBLISHER
AgFirst Farm Credit Bank
PUBLISHING DIRECTOR
Donna Camacho
DESIGNERS
Will Gettys, Darren Hill, Renee Rhoads, Travis Taylor
PRINTER
Spectra True Colour, Columbia, SC
CIRCULATION
Kathi DeFlorio
Address changes, questions, comments or
requests for copies of the association’s financial
reports should be directed to Carolina Farm
Credit, ACA at 1-800-521-9952 or P.O. Box 1827,
Statesville, N.C. 28687-1827. Contact us by email:
marketing@carolinafarmcredit.com. Our quarterly
financial statement can also be obtained from our
website, www.carolinafarmcredit.com.
If so, name
Or call us at: 1-800-521-9952
Or e-mail us at: marketing@carolinafarmcredit.com
PRINTED WITH
SOY INK

CONTENTS
MESSAGE FROM THE PRESIDENT
A Year of Challenges
and Change 4
ASSOCIATION NEWS
Directors’ Election Results 5
PATRONAGE
Customer Appreciation Days 6
Cover Story
Spending Christmas at the
White House
INDUSTRY 8
New partners in Got To Be NC
Campaign 10
Nursery Crop Insurance 11
Comment on the 2007 Farm Bill 12
2005 Cooperative Youth
Leadership Conference 12
2007 Photo Contest 13
COMMUNITY NEWS 13
Money Concepts at CFC 14
Congressman Etheridge
Honored 15
Farm Credit Scholarships
Awarded 15
Sprouts are Blooming! 16
FEATURE
Dinner With a Smiling King 18
December 2005, Carolina Farm Credit | 3

MESSAGEFROM THE PRESIDENT
Larry W. Shoffner
A Year of Challenges
and Change
The sun seems brighter than normal, the
days are getting shorter, there’s a chill in the
morning air, the leaves have turned, the crops
are harvested, and we’re beginning to see
Christmas decorations in the department stores.
It’s hard to believe 2005 will soon be
over; it seems like we just celebrated the New
Year. This has been another year full of change
and challenges. We have experienced natural
disasters, the war in Iraq has continued to take
lives and we have celebrated the heroic actions
of individuals who have committed selfless
acts to help their fellow man.
At Carolina Farm Credit, we have been
affected by both local and national events. We
have 208 employees, which are located in 41
offices stretching from Roxboro, Hillsborough
and Sanford in the east, all the way to Murphy
in the west. Our employees are dedicated,
experienced and understand the cooperative
spirit and way of doing business, which makes
them unique in today’s business world. We
have a 20-member board of directors, eighteen
of which are elected by you, and represent the
diverse agriculture and moral fiber of the 54
county territory we serve. I’m proud to be a
part of this organization, which takes seriously
its responsibility to provide credit and related
services to the farmers and rural communities
in the western half of North Carolina.
Our employees and directors are
service minded, hold leadership roles in their
communities and look for opportunities to
help others. After Hurricane Katrina the board
of directors granted approval for employees
to take up to five days leave to participate in
mission trips to the Gulf area. Many employees
donated monies to a hurricane relief fund, and
several have joined church mission teams to
travel to the Gulf and donate their time and
talents to help those affected by the hurricane.
Another event this year affecting the
association and our customers is the tobacco
buyout. Approximately 12% of our loan
volume or about $135 million is tied to tobacco
production. The buyout, which results in the
4 | December 2005, Carolina Farm Credit
purchase of tobacco quota by the government
and eliminates any future tobacco price support
system, will infuse a lot of cash into our lending
area and change the production of tobacco, as
we know it. Producers and quota holders will
receive the proceeds of the buyout over a 10-
year period and received the first payment in
September of this year. Future payments will
be received in January of each year beginning
in 2006. Carolina Farm Credit and certain other
financial institutions are purchasing Successor
in Interest Contracts, which provide producers
and quota holders the opportunity to sell their
future cash flow stream from the tobacco buyout
for cash. We are offering an attractive discount
rate and feel we will be able to offer a very
competitive product resulting in a substantial
investment in these contracts.
We have also been busy this year with
the construction of a new administrative office
building in Statesville, which will allow us to
move all of the Statesville administrative staff
under one roof. Additionally, this new facility
will contain a meeting room and training facility
large enough to accommodate board and staff
meetings, eliminating the need to use off site
facilities. We plan to occupy the new building
prior to year end and will hold an open house
and building dedication for members sometime
in the first quarter of 2006.
From an operational standpoint we are
experiencing another good year with respect
Carolina Farm
Credit donated
funds in the early
efforts to help fill
a truck to provide
relief to victims of
Hurricane Katrina.
Over $4,000 was
also donated to
Samaritan’s Purse,
when employees
elected to donate
their “Christmas
Ham” money to the
relief efforts.
to earnings, credit quality and the services
provided to our members. Our earnings as of
September 30, 2005, are almost $17 million and
should exceed $25 million by year end.
Carolina Farm Credit and other system
institutions continue to provide a vital service
to agriculture and rural America despite the
fact we are operating under obsolete rules
and regulations, which have not kept pace
with changes in agriculture and rural areas.
In this regard the Farm Credit System has
completed a market study and analysis during
2005 called the Horizons project, which has
resulted in significant research findings and a
set of recommendations, which if approved by
our regulator, the Farm Credit Administration
and/or Congress, will allow us to continue to
meet the changing demands of our customers
and rural America. You will be hearing more
about project Horizons in the coming year as we
solicit your support of these important and vital
changes.
We hope you were able to participate in
one of our fall customer appreciation events to
celebrate the cooperative way of doing business
by allowing us to share our profits with you
and express appreciation for your business and
contributions to agriculture and rural America.
As always we appreciate your continued support
of Carolina Farm Credit and your use of our
services. May you and your family enjoy a
blessed holiday season

ASSOCIATIONNEWS
Bobby Atkins Butch Deal Bobby Matthews Dwayne Myers Clark Newlin Tommy Porter
Directors’ Election
Results
On October 17, 2005, Carolina Farm Credit
completed its second director election by mail.
Mail-in ballots totaled 1,398, which was an
increase from the number of member votes
received last year.
The law firm of Bell, Davis and Pitt of
Winston Salem, North Carolina, tabulated the
votes and the following were elected to a threeyear
term:
• Region 1:
Charles L. “Butch” Deal, Macon County
• Region 2:
R. Dwayne Myers, Wilkes County
• Region 3:
Bobby J. “Bud” Matthews, Jr., Yadkin
County
• Region 4:
Thomas E. Porter, Jr., Cabarrus County
• Region 5:
Bobby R. Atkins, Montgomery County
• Region 6:
Clark M. Newlin, Alamance County
Charles “Butch” Deal, 53, is a tomato,
grain, tobacco, beef cattle and vegetable
grower. He has been on Carolina’s board since
1992.
R. Dwayne Myers, 57, is a dairy farmer.
He has been a director for Carolina since 1976.
Bobby J. “Bud” Matthews, Jr., 54, is a
full-time farmer who raises corn, soybeans,
hay, beef cattle, table grapes, blueberries and
has broiler breeder houses. Matthews is new to
the board of Carolina Farm Credit.
Thomas E. Porter, Jr., 51, is a swine,
poultry, and beef cattle farmer. He has been on
Carolina’s board since 2002.
Bobby R. Atkins, 72, has been a director
for Carolina since 1979. Atkins’ diverse
operations include broiler houses, beef cattle,
pig nurseries, and timber.
Clark M. Newlin, 58, is a dairy farmer.
He has been a Carolina director since 2002.
Members of the nominating committee
elected for 2005 are: Wayne Pace, Earl Deal
Jr., Jack Shore, Robert Knox III, Lannie
Allen, and Sam Kiser Jr. Alternate members
are: Daniel McConnell, Corey Lutz, Larry
Galliher, Zane Sells, Milton Baucom, and Tom
Harrington.
On November 8, the new board held an
organizational meeting to appoint committee
members. J. Carroll Goodman was elected as
the new Chairman and Clark M. Newlin as the
new Vice Chairman.
Money saved as a result of the voting by
mail process was redirected again this year to
hold customer appreciation events at branch
offices. Each branch held two events this
year, one in the spring and one in the fall. The
events attracted over 7,000 member owners.
December 2005, Carolina Farm Credit | 5

PATRONAGE
Customer Appreciation Days
“We Put Our Profits into our Customers’ Pockets”
During two weeks in September, each of our 39 branch offices hosted
customer appreciation events to celebrate with customers. The events
ranged from an all day open house to a hotdog or BBQ picnic to a sitdown
dinner with entertainment. This was a great opportunity for us to
visit with our customers as we put some money in their pockets!
Carolina Farm Credit revolved $7.4 million of Qualified Surplus
and $2.4 million of Non-Qualified Surplus allocated to members. This
is the entire 1999 series of Qualified Surplus for all Carolina members
and 1994 series of Non Qualified Surplus for the former North Central
Farm Credit members. Over $177.8 million has been paid to members
over the last 17 years.
This revolvement by the board is in keeping with the association’s
plan of revolving equities. The board’s goal is to revolve Qualified
Surplus allocated on a 5-year basis and Non-Qualified Surplus allocated
on a 10-year basis depending upon financial results.
“Each year, part of the patronage refund has been paid in cash; the
balance has been placed in qualified surplus allocated account for each
member. The board is pleased that the association has met its capital
requirement goal and is financially able to retire this qualified surplus
allocated and the non-qualified surplus”, said Dennis T. Leamon,
Chairman of the Board.
Larry Shoffner, president/CEO of the association, stated, “The
association’s members will not only gain financial benefits from the
surplus retirement, the revolving of the surplus will help them better
understand the linkage between their investment in the association and
benefits derived from doing business with the association, a farmerowned
cooperative. Like other financial institutions, the association
charges a competitive interest rate; however, unlike other financial
institutions, Carolina Farm Credit returns the majority of its profits to
borrowers which reduces their effective interest rate.”
Lenoir branch member, Gary Church, left, is presented is check by
Keith Link, Branch Manager.
Directors Clark Newlin, (l) and Tommy Porter (r) present
a check to Graham branch member, Billy Holliday.
From the left: Burder and Betty Reeves, members
of Marshall branch, receive their check from Terry
Peterson, Branch Manager.
Director Gary Herlocker presents check to
Yadkinville branch member David Atkins, at right.
6 | FFA December students 2005, help Carolina serve Farm in the Credit food line at the Sparta branch event.
Winston-Salem branch members attend Customer Appreciation Event at
Forsyth County Agricultural Extension Office.

Wilkesboro branch member, Harold Hartley, left,
receives his check from Director Dwayne Myers.
Director Butch Deal, left, presents check to
Jim Carringer, Murphy branch member.
At left, Bruce Hoyle, member of the Spindale branch, is
given his check by Branch Manager, Bruce Arrington.
From the left: Director Steve Love presents check to Siler City branch
members, Steve and Tammy McPherson.
Yadkinville Branch Manager, Kent Whitaker presents check to
member, Ken Williams, right.
From the left: Tom Gilliam, Roxboro branch member, receives his check
from Directors Clark Newlin, Tommy Porter, and Bobby McCollum.
From the left: Directors Butch Deal, Clark Newlin, December & Tommy 2005, Carolina Porter present Farm Credit a surplus | 7
check to Steve Troxler, Greensboro branch member & NC Commissioner of Agriculture.

COVERSTORY
8 | December 2005, Carolina Farm Credit

Congratulations are in order for Smokey Holler Tree Farm of Sparta, North
Carolina, as they won the honor of supplying the Christmas tree to the
White House for 2005. The owners and Carolina Farm Credit members,
Earl and Betsy Deal and their children Meg and Buddy, earned this right
by winning the Christmas tree contest at the biennial National Christmas
Tree Association Convention.
Their near perfect entry earned 198 of a
possible 200 points in the prestigious contest.
Of course, the tree that wins the competition
is not the actual tree that goes into the White
House. The White House’s Chief Usher,
Gary Walters, travels to the winning farm to
personally make the 18’ 6” selection; and it
has to be just right.
“Pretty nice, Mike,” Walters said,
speaking to Mike Lawn, the White House’s
head gardener as they surveyed some of
the large Deal trees. “How’s it look at the
bottom?” “No holes, branches to the ground,
nice height,” Lawn said. “Beautiful,” Walters
said.
With the selection being made, the tree
will be cut the day after Thanksgiving and
shipped to the White House via a truck from
the NC Department of Agriculture. With
the truck and the celebration that takes place
with the presentation of the tree to Mrs.
Bush, it is a great opportunity to spotlight the
quality of the Fraser Fir. “This is a wonderful
opportunity for people to become familiar
with the North Carolina Fraser Fir,” says
Linda Gragg, Executive Director of the
North Carolina Christmas Tree Association
(NCCTA).
The Fraser Fir has long been known
for its pleasant fragrance, enduring needle
retention, dark green color, and fullness. One
of the goals of the NCCTA is to brand the
name Fraser Fir so that these quality features
become attached to the name.
The Deals should have a great weekend
at the White House when they make the
presentation. Betsy Deal taught school for
28 years and Earl is professor emeritus at
NC State University’s College of Forest
Resources. So with Mrs. Bush’s acceptance,
it will be a presentation from two former
teachers to another. It will also be Earl and
Betsy’s 40th wedding anniversary on the
weekend they will be in Washington. “Don’t
forget that’s our 40th wedding anniversary,”
she told her husband. “Maybe you can
remember that and won’t forget it this year.”
Christmas tree farmers are somewhat
unique in that their harvest always ends as the
country celebrates its largest holiday. This
time of celebration will be multiplied for the
Deals this year and we applaud their long
marriage, their quality tree, and their victory
at the National Christmas Tree Contest.
The Deals raise 500,000 trees on about 500
acres in Alleghany County, NC. The 18’ 6”
tree that will be placed in the white house
is approximately 20 years old. Smokey
Holler sells exclusively to wholesalers, who
will probably market their trees as coming
from the same farm as the White House tree.
Information for this article was taken from the
original article written by Monte Mitchell of
The Winston-Salem Journal and re-written by
Greg Moore of Carolina Farm Credit.
December 2005, Carolina Farm Credit | 9

INDUSTRY
New Partners in Ag Dept.’s
‘Got To Be NC’ campaign
NC Commissioner of Agriculture, Steve Troxler, “rolls out” the new Got To Be NC promotion at Greensboro news conference. On stage with him is
Carolina Farm Credit Director Dr. Alton Thompson, Dean of the College of Agriculture at NC A&T University.
Agriculture Commissioner Steve Troxler got
behind the wheel of a tractor-trailer today to
drive home the message urging consumers to
support North Carolina agriculture.
Troxler drove up to the news conference
at the Piedmont Triad Farmers Market in a
40-foot tractor-trailer outfitted with graphics
for “Got To Be NC,” the department’s
new campaign promoting North Carolina
agricultural products. He was joined at the
event by executives from companies that will
be partnering with the N.C. Department of
Agriculture and Consumer Services in the
campaign: Rick Anicetti, president and CEO
of Salisbury-based Food Lion; Dee Rowland,
purchasing director for K&W Cafeterias, based
in Winston-Salem; and Barbara Saulpaugh,
vice president of Lowes Foods, also based in
Winston-Salem.
“We are fortunate to produce so many
commodities here in the state, which gives
consumers access to the freshest, safest and
highest-quality food products available,”
Troxler said. “Agriculture is our state’s leading
industry. By buying North Carolina agricultural
products, consumers are helping support jobs
across this state, keeping our economy strong.
“Partnerships with grocery stores,
restaurants and other food retailers throughout
the state are essential to the success of our
marketing effort,” Troxler said.
The addition of Food Lion, Lowes
Foods and K&W brings to six the number of
companies that are incorporating the “Got
To Be NC” slogan into their promotional
materials. The others are Golden Corral,
Andy’s Cheesesteaks & Cheeseburgers and
K&S Cafeterias.
The partnership extends to commodity
associations and farm groups including
Carolina Farm Credit, which are promoting
agricultural products on the sides of the 34
trucks the department’s Food Distribution
Division uses to transport U.S. Department
of Agriculture commodities to schools, food
banks and soup kitchens across the state.
The department is also using billboards
across the state to carry the “Got To Be NC”
slogan to consumers.
“There are many reasons to buy North
Carolina products, and we want to be sure
consumers know this and look for these
products where they shop,” Troxler said.
10 | December 2005, Carolina Farm Credit

Nursery Crop Insurance
By Angie Swaim, Sr. Financially Related Services Coordinator
Attention North Carolina Nurserymen! Did
you know that Carolina Farm Credit offers
crop insurance on almost any crop including
nurseries on field grown and container stock?
This coverage is offered through two crop
insurance companies, Rain & Hail L.L.C. and
ARMtech Insurance Services, Inc.
There have been several enhancements
made by RMA (Risk Management Agency) for
2006. Some of these changes include but are
not limited to:
• Nursery stock in pots of 1” in diameter
(including liners) are now eligible for
coverage
• Coverage is available for 15 different plant
types including two newly added types;
Palms and Cycads, and also Liners
• Plant types may be covered separately by
choosing different levels of coverage for
each type (does not apply to Catastrophic or
CAT coverage)
• A policy may be written anytime of the year
and when approved, coverage attaches 30
days after date of application
• A full crop year runs June 1st – May 31st
beginning in 2006. Premiums are prorated
for coverage less than 1 year
• New optional Rehabilitation Endorsement
is available. This endorsement is for field
grown stock and reimburses the insured for
hired labor or cost associated with wind
blown or salvageable stock up to 7% of the
initial coverage amount.
Risk management is an important business
consideration for a nurseryman. Weather
perils occur somewhere everyday. You never
know when something will happen to your
crop. Some of the perils covered by this
multiple peril insurance are adverse weather
conditions such as drought, fire, flood, freeze,
wildlife, earthquake, volcanic eruption, plant
marketability, disease (if no effective control
measures exist), failure of irrigation water
supply such as no rain to fill pond.
Various levels of coverage are available
from CAT to 75%. Peak endorsements are also
available once annually.
Call or drop by your local Carolina Farm
Credit branch to learn more about insuring
your nursery stock.
December 2005, Carolina Farm Credit | 11

INDUSTRY
Comment on the 2007 Farm Bill
“The 2007 Farm Bill will affect America’s entire
agricultural community, so I believe our entire
agricultural community should have a say in the
process. I welcome input from across the nation
about what is working and what we can do to
improve farm policy.” - Mike Johanns, Secretary
of Agriculture.
USDA intends to develop
recommendations for the new farm bill and
believes that public input is essential to this
process. USDA provides its customers with a
form to submit feedback on a series of questions
related to the 2007 Farm Bill.
You may provide your comments through
December 30, 2005. Please visit the USDA
Mike Johanns, Secretary of Agriculture
website at www.usda.gov and follow the
links marked Farm Bill Forums to find the
comment form on their website. You may also
mail your comments to: U.S. Department of
Agriculture Farm Bill Official Comments
1400 Independence Ave., S.W. Washington,
DC 20250.
2005 Cooperative Youth Leadership Conference
The 2005 Cooperative Leadership Camp was
held this summer at White Lake, N.C. Marsha
Williams, Loan Officer from the Wilkesboro
Branch of Carolina Farm Credit, assisted as
a counselor. Carolina Farm Credit sponsored
Alisha Benfield of Hiddenite, N.C.
The campers received extensive training
in formation and operation of cooperatives as a
form of doing business, in setting up their own
T-shirt cooperative, as well as enjoying a full
week of traditional camp activities. During the
week, they heard several distinguished speakers
including North Carolina Commissioner of
Agriculture Steve Troxler; Chief Deputy
Secretary of State Rodney Maddox; and former
NFL superstar Dave Rowe.
Carlyle Teague, Executive Director of
the Cooperative Council was appreciative of
the members of the Cooperative Council who
selected and sponsored the leaders to attend this
camp; and from all reports, it was an outstanding
group of campers.
Ashton Little of Jefferson, N.C. was
selected as the outstanding camper. Skyline
Telephone Cooperative in West Jefferson
sponsored him. As recipient of this honor,
Ashton received the Thad Eure Cooperative
Leadership Award, which included an expense
paid trip to the 2005 National Institute on
Cooperative Education (NICE) in Lexington,
Kentucky, July 31-August 3, 2005.
Selected to join Ashton in representing
North Carolina at the NICE conference were
Amanda Alons, sponsored by Tri-County TMC;
Anthony Bauguess, Roaring River, sponsored
12 | December 2005, Carolina Farm Credit
Following his address to participants, NC Commissioner of Agriculture Steve Troxler took time to visit
with Marsha Williams, left, counselor; and Alisha Benfield, camper; representing Carolina Farm Credit.
by Wilkes Telecommunications; Kirby Grady,
Rose Hill, sponsored by Cape Fear Farm
Credit; Mary Margaret Morris, Winterville;
and Chris Rose, Whitakers, both representing
East Carolina Farm Credit. Dylan Floyd, Fair
Bluff, sponsored by Cape Fear Farm Credit;
and Ashley Williams, Pantego, sponsored by
Tri-County TMC, were selected as alternates.
Marsha Williams, Carolina Farm Credit, and
Carlyle Teague served as chaperones.
Hunter Cooper, Calhoun Falls, S.C.
sponsored by AgSouth Farm Credit, was
selected to represent the nine South Carolina
participants in camp on the NICE trip. Janessa
Smith, Aiken, S.C., representing Aiken Electric
Cooperative, was the S.C. alternate.
These leaders were selected from the 41
youth representing North and South Carolina
cooperatives at the conference. Counselors
were provided by North and South Carolina
cooperatives. They were Marsha Williams,
Carolina Farm Credit, Wilkesboro; David White,
Surry-Yadkin EMC, Dobson; Katie McEwen,
Raleigh, and Michael Harris, Nashville, both
from East Carolina Farm Credit; Garrett Gasque,
Conway, S.C., Horry Electric Cooperative; and
Jennie Gentry, Statesville, N.C. State Grange.

Image
Submission
Form
Preferred Images – 35mm slides or 4x6
photographs, preferably glossy (not satin)
finish. When providing digital camera
images, give a high quality printout (4x6
or larger) and the digital file. This file
must be 1.5 MB or larger so when
enlarged it does not lose color or
sharpness. All images will become the
property of Carolina Farm Credit.
No images will be returned.
(photocopies of this form are accepted)
Name:____________________________
Address:__________________________
City: _____________________________
State:______ Zip:___________________
Phone: ___________________________
Email: ____________________________
Customers and employees of Carolina Farm Credit
are invited to enter our 2007 photo contest.
All entries must be received by July 31, 2006.
All photos must be identified with name and address on the back of the picture
(please use a label for this information).
Cash Prizes Will Be:
1st place - $300
2nd place - $200
3rd place - $100
Winning entries will be featured in the 2007 Carolina Farm Credit Calendar
To submit an entry, simply complete the form at right or download an entry form
from our website.
and mail it along with your photo to: Maggie Hamm, Carolina Farm Credit, PO
Box 1827, Statesville, NC 28687
No entries will be accepted without completed and signed submission form
If you have questions, please call 800-521-9952 ext. 120 or inquire by email to
mhamm@carolinafarmcredit.com.
Briefly describe your photo (What’s hapening,
where it is, when it was taken):
______________________________________
______________________________________
______________________________________
______________________________________
______________________________________
______________
I (We) understand that images will not
be returned and each photo submitted comes
with full and unlimited rights to print the photo,
without credit, in Carolina Farm Credit literature,
without further obligation to the photographer
or those people who have their person or items
pictured.
Signature of Contributor:
__________________________________________
December 2005, Carolina Farm Credit | 13

COMMUNITYNEWS
Tom Haarmann
Money Concepts at
Carolina Farm Credit
By:Tom Haarmann, Financial Planner
Carolina Farm Credit is now able to offer a
variety of investment products and financial
planning services to all our members on a
completely independent basis. We work with
an international financial planning firm, Money
Concepts, to provide this service.
Tom Haarmann, one of our newest
employees, came to us from Wisconsin, where
he successfully managed the Money Concepts
Center for a bank. In addition to being among
the top 50 Financial Planners worldwide
through the Money Concepts system, Tom
is also a licensed Attorney, holds a Series 7
and 66 securities licenses, as well as Life and
Health Insurance licenses.
Tom specializes in working with active
retirees, those approaching retirement, as well
as small business owners, farmers and ranchers,
helping them prepare for retirement and
protecting the assets they have accumulated.
In this and future Leader publications, we will
include some informational articles from our
Money Concepts experts. These articles are
designed to help you and your family prepare
for retirement, transition your farm business,
meet your families’ financial goals, and “plan
to succeed.”
Many of us have a lot of concerns and
fears. We are worried about the economy, our
country, our jobs, our children’s future, the war
in Iraq, nursing home costs, social security, etc.
If we lost money in the 2000-2002 recession,
we are even more leery about investing.
There are over 17,000 mutual funds,
countless number of annuities, stocks, bonds,
etc. Most of us know we need help sorting
out our financial decisions, but we become
paralyzed by all the choices available. How
do you make sense of it all, and what is the
right thing to do? “I believe in the ‘Golden
Rule’, treat others the way you would like to be
treated.” We begin our relationship by listening
14 | December 2005, Carolina Farm Credit
to what our clients want their money to do for
them. After listening, we spend a good deal of
time setting up a formal, written financial plan
for them.
You wouldn’t bake a cake without a
recipe, or travel across the country without a
map. This written financial plan is our client’s
map of where they want to go financially.
We show them how they will never run out
of money, how they can protect their assets
when the next market downturn occurs. We
show them how to maximize their pension or
distribution in the most tax efficient way. We
show them how to pass along as much as they
can to their children or favorite charity without
losing it all to the IRS. We make sure that their
family is taken care of in the event something
happens to them. In short, we help our clients
“Plan to Succeed.”
There are a lot of traps and
misinformation that people fall victim to when
they retire. Tom will be conducting meetings
at our branch offices showing our members
how to avoid common mistakes and confusion
when retiring, how to make sure they have
enough income for life, and how to eliminate
paying taxes on the growth of their income. To
schedule an appointment with Tom to discuss
your individual situation, please call him at
(704) 873-1761 x211, or e-mail Thaarmann@
carolinafarmcredit.com. In his free time, Tom
enjoys hunting, fishing and golfing, as well
as spending time with his wife Sue, daughter,
Kylie and son, Danny.
INDEPENDENT CONTRACTOR OF MONEY CONCEPTS
INTERNATIONAL, INC. All securities through Money Concepts
Capital Corp. Member NASD/SIPC 11440 Jog Road; Palm Beach
Gardens, FL 33418-3764; (561)-472-2000

Congressman
Etheridge
Honored
Carolina Farm Credit, along with Cape
Fear and East Carolina Farm Credit,
honored Congressman Bob Etheridge at an
appreciation dinner for his continuing support
of agriculture and Farm Credit. Congressman
Etheridge is pictured above with board
members and the CEO’s of the three Farm
Credit associations in North Carolina.
Farm Credit Scholarships Awarded
The recipients of the NCSU-Carolina Farm
Credit Scholarships are William A. Bess of
Lincolnton; Hannah D. Cheek of Liberty;
Charles J. Hardin of Statesville; and Elizabeth
D. Richardson of Stokesdale.
William Bess’ parents are Bill and Rene
Bess. William is a sophomore in Horticultural
Science. He plans to graduate with a degree
in landscape design in the spring of 2008.
He then will begin his career working for
a residential/commercial contractor, while
gradually building his own landscape
company. Eventually, he hopes to own and
manage his own enterprise, overseeing both
production and installation of landscape
elements.
Hannah Cheek’s parents are Eric and
Nancy Cheek. Hannah is a freshman in
Biochemistry. Her current interests are
something in a medical-related field or in a
research-related field.
Proud To Be A Carolina Farm Credit Cap Wearer!
Our popular “cap contest” continues as a
quarterly drawing where four lucky people
are rewarded for wearing their Carolina Farm
Credit cap!
An employee or director must see you
wearing a Carolina Farm Credit cap and get
your name and address to enter you in the
drawing. At the end of each quarter we put all
Justin Hardin’s parents are Bob and
Cindy Hardin. Justin is a junior in Animal
Science. After getting his degree in Animal
Science, he hopes to work in a field directly
related to the dairy industry. His current
interests include both reproduction and
nutrition, so a career at a feed company or AI
firm could be possible.
Elizabeth Richardson’s parents are Ted
and Rebecca Richardson. Elizabeth is a junior
in Biochemistry. Her main three areas of
interest are: agriculture, health, and research.
She is extremely interested in the continued
research of the use of plants for medicine;
especially the tobacco plant. She also plans
to pursue a minor in Health, Medicine, and
Human Values.
of the entries in a “Farm Credit Cap” and draw
four winners for the CASH AWARDS of $50
each.
Our winners for this quarter are:
• Michael Morgan of Archdale
• Raymond Williams of Sparta
• Wayne Flippin of Westfield
• Ross Ayers of Ramseur
William Bess
Justin Hardin
Hannah Cheek
Elizabeth Richardson
December 2005, Carolina Farm Credit | 15

Our Sprouts are Blooming!
Jillian Leigh Coble, born October 26, 2004, daughter of
Alan and Dawn Coble or Ramseur. Grandparents are
John and Lib Cole, members.
Emma Grace Scronce, daughter of
Johnathan and Christine Scronce and
granddaughter of Newton customer,
Richard Scronce, Sr.
John Floyd Greene IV, born February 17,
2004, son of Johnny and Melanie Greene
of Boone. Grandparents are Mr. and Mrs.
John F. Greene Jr., members.
Lee Preston Karriker, 1 year old son of members
Pratt and Shasta Karriker of Mooresville.
Chloe Allyson Scronce, daughter of
Johnathan and Christine Scronce and
granddaughter of Newton customer,
Richard Scronce, Sr.
Leah Faith Mitchell, born February 1, 2004,
daughter of Myron and Angel Mitchell of
Walnut Cove and granddaughter of Mickey
and Mabel Mitchell of Walnut Cove. Both
parents and grandparents are members.
Evan Walker Gard, born January 9,
2005, son of Chad and Wendy Gard of
Jackson, WI. Grandparents are Lacy
and Glenda Walker, members.

Auburn Shay Campbell, born May 5, 2004, daughter of Greg and
Sherri Campbell of Siler City. Grandparents are Lloyd and Betty
Campbell and Greg and Debbie Taylor, members.
Jay Long, son of David and Bridga Long.
Grandparents are Ray and Azalea Long, members
of Monroe Branch.
Ella Montgomery Sizemore, born April 9,
2005, daughter of members Chris and
Carrie Sizemore of Julian.
Kathryn Shelton, daughter of Kane
and Charity Shelton of Pinnacle.
Sadie Lee Gaines, born July 7, 2004, daughter of members
Steve and Kelly Gaines of Goldston.
Erin Nicole Lookabill, born April 5, 2004, daughter of Travis and
Nicole Lookabill, members from Wadesboro. Grandparents are
LeeRoy and Gay Lookabill, also members.
Nathan Lee Sawyers, born July 18, 2004. Proud
grandparents are Johnny and Geraldene Sawyers,
members from Pilot Mountain.
Gracie Lutterloh, daughter of Dave
and April Lutterloh, members.
December 2005, Carolina Farm Credit | 17

BOLDNOT BOLD
DINNER WITH A
SMILING KING
By Greg Moore, Marketing Specialist
18 | December 2005, Carolina Farm Credit

FEATURE
Recently the board and management of Carolina
Farm Credit were lucky enough to dine with Richard
Petty. We met Richard at the community center in his
hometown of Level Cross, N.C., ate a delicious meal
served on paper plates, and drank from plastic cups.
But when you are around Richard you realize this is
probably the way he prefers it, in fact, like many of us,
he would likely call it “eating supper” not dining.
Once finished with our meal Richard entertained
questions from the audience. The workday had
been devoted to business planning for our board and
management team, and little did we realize what
Richard was about to tell us would be directly related
to our day’s work.
When asked what he attributed to his success,
Richard responded quickly, “People. I have been
lucky enough to surround myself with good people.
Even back in the early days, my dad and cousins were
good, and we worked as a team. And it takes this
network of good people to create a successful team. ”
Now the great thing about his answer wasn’t just the
answer, but it was the speed and singleness with which
he delivered it. No hesitation, ‘people’ was his answer
and his only answer.
Change is a very common word thrown out by
management today. Richard is very much in tune
with change. When asked about expanding NASCAR
to new markets, the new rule changes regarding the
Nextel Championship, and the addition of larger
tracks, Richard is comfortable with the changes. “Hey,
I am fine with the new championship rules. We knew
the rules going into this year, and we all play by them,
so that is the way it is. We develop strategies based on
the rules; if the rules change, your strategies change.”
In a sense, change relates to what he said about
the customer. He said that NASCAR should think
about their business from the customers’ point of view.
Customers now want to see new tracks, big and small
tracks, and tight competition, so NASCAR is giving
the customer what it wants and the tickets are selling.
When the customers’ wants change, then the product
must change.
However, Richard did hit on one important point
regarding change – when possible we should manage
the change that we can control. In his example of the
growth of NASCAR, he was a proponent of controlled
growth. Care must be taken to ensure that the growth
rate is not too fast or too slow.
As I looked back through my notes nothing
said quite as much as Richard’s smile. I took about
75 photos of Richard with various employees and
directors and there was one constant in each photo;
Richard’s smile was dead on. I am not sure what that
brilliant smile said, but it said it often and it said it
loud!
Dr. David Kohl, Doris “Granny” Wall, and Richard “The King” Petty
Petty, with CFC Senior Vice President of Marketing Maggie Hamm
Director John Barnard and family with “The King”
December 2005, Carolina Farm Credit | 19

NO MORE WAITING.
Make your buyout dollars
work for you by working
with Carolina Farm Credit.
We’ve worked for North
Carolina’s farmers for
nearly 90 years. No lender
is more motivated to help
make your dreams come
true.
AS A TOBACCO GROWER OR
QUOTA HOLDER, YOU’VE WAITED
A LONG TIME FOR THIS.
Farm Credit can help you make the most of the
TOBACCO BUYOUT
FEATURES OF OUR
PROGRAM:
• Receive your money today
• There’s no waiting
• Extremely competitive
advance rates
• Loans and lump sum
available
The lender you’ve trusted for generations.
www.carolinafarmcredit.com • 1-800-521-9952
marketing@carolinafarmcredit.com
Carolina Farm Credit
P.O. Box 1827
Statesville, NC 28687-1827
www.carolinafarmcredit.com
PRSRT STD
U.S. POSTAGE
PAID
COLUMBIA SC
PERMIT 1160