$1,000,000 IS LOANED
TO NORTHWEST FARMERS
BY PRODUCTION CREDIT
Co-operative Association
Reports Increasing Interest From Many Growers
Nearly $1,000,000 has been loaned
to Northwest farmers in the two
and one-half years the Puget
Sound Production Credit Association has been operating, Secretary
George W. Sprouse said this week.
"This does not mean," said
Sprouse, "that the farmers are going further in debt, but we do feel
that farmers have awakened to
the possibilities of what the organization has to offer them, in view
of the fact that it is their own organization that is making these
loans."
The association, Sprouse pointed
out, is managed by farmers themselves, selected by the borrowers.
R. W. Mize, of route 3, Bellingham,
is president; L. J. Costello, of Kent,
is vice-president; O. H. Babcock, of
Port Angeles, S. M. Butler, of Burlington, and R. B. Miller, of Startup, are directors. Mize has served
continuousuly as president of the
association since its beginning.
Losing Wrong Idea
"We believe," said Sprouse,
"that the farmers are getting over
the idea that we are just a temporary charitable organization and
have begun to feel that as members of the association they have
to carry some responsibility in
connection with their membership."
Repayments of loans have been
"exceptionally goood," Sprouse said.
"While it is to be expected to have
some delinquencies, considering the
number of loans we have they are
almost nil, which we think speaks
very favorably for the farmers in
conducting their affairs."
The Puget Sound Production
Credit Association, which serves
Whatcom, Skagit, Snohomish, San
Juan, Island, King, Clallam and
Jefferson counties, has 660 members and is growing each month.