The Equity is offering three free in-person training sessions to our growers to become certified in the safe handling of Anhydrous Ammonia and Paraquat as required by the Illinois Department of Agriculture.
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Despite several obstacles placed in our path, The Equity achieved another successful year. COVID was and is indeed still a major disruption to our ongoing business and operations. It has impacts across all of our supply-chain relations, the communities we serve, and our team members. There were other trials as well; the substantial interruptions last winter for manufacturers in Texas, Hurricane Ida, COVID-induced worker shortage at packing plants and ports of entry slowed crop protection products and feed ingredients. Some of these challenges will continue to have impacts upon our business for many months to come. Even with these conditions, your cooperative advanced on a number of fronts. The Altamont location underwent a complete refurbishing to better serve its patrons. Farina location received an automation enhancement to the chemical blending, and a water line was installed to provide the Horace location with an abundance of quality water. We also expanded Planters Precision with the acquisition of two additional dealers, and The Equity Farm & Home Store began a Customer Fulfillment Center expansion. Volumes and Revenues grew in Agronomy, Energy, Feed, Grain and Hardware, however much of the revenue growth came from inflated pricing. GO FLEX, our input financing offering, grew to over $90 million dollars in approved loans. This provides our customers with the necessary access to capital to take advantage of early ordering when market prices are favorable. Our biggest task was, is, and will be having a sufficient team of employees to service you, our valued customers and owners. The Board of Directors continued our intent to address equity management with focus on three segments: Past, Present and Future. For the Past, this year we will be retiring $1.4 million in allocated equity from the fiscal year 2009 and 25% of 2010. For the Present, we have declared a Patronage Refund of almost $2.4 million with 50% being in cash, and For the Future, we have approved a fiscal 2022 budget which continues to invest in infrastructure to serve our member-owners. The Board and Management would like to express our sincere appreciation to you, our shareholders, for the business you continue to allow us to earn. We would also like to thank all of Team Equity for the hard work and dedication that serves our members and has grown The Equity into one of the premier Ag Retailers in the country. Yours in cooperative service, Nick Jansen, Board Chairman & Bruce Vernon, CEO
The Equity offers a great benefits package for full-time employees including: vacation time, sick time, 401k match, health insurance, vision & dental insurance, life insurance, long term disability, short term disability, and bonus program.