Fall 2020

Northwest Farm Credit: Rural, Real Estate, Operating Loans; Farm Loans; Country Home Loans; Lot Loans; Equipment Financing; Young and Beginning Producers; Crop Insurance; Business Management Education; Property Appraisals

Issue link: http://digital.nexsitepublishing.com/i/1310698

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Page 2 of 15

fall 2020 2 As I reflect on this highly unusual and challenging year, I'm extremely grateful for the resiliency of our customers and employees. When the virus broke out eight months ago, we had some pretty bleak scenarios about the economy and the impact to our association. Fortunately, our customer-members are faring better than expected, government programs have provided more than expected, and low interest rates have boded well for agriculture, forestry and fisheries. While most of our customers are doing well, we know some of you are bearing significant economic stress, depending on your business model, markets and products. We're here to help you work through financial challenges with a variety of options. Our thoughts are with those impacted by a horrendous fire season, especially in Oregon. While we are still understanding the full impact, we're committed to helping people and communities get back on their feet. 2020 has been a learning experience for all of us. Our employees have done a tremendous job of quickly adjusting to working from home. Even with substantial investments in technology, we never imagined running this business with a third of our employees working in the office as local conditions and directives allow, and the rest working from their homes. It's a challenging way to run a business and we're all missing face-to-face connections with you. However, we are committed to doing the right thing to protect our employees and customers, while still getting the job done. During this holiday season, we have much to be thankful for. First, for the health of our employees and customers. We have the type of business and technology that allows us to run operations remotely and still meet our customers' needs. We're thankful for strong rural communities that rally in times like these to help one another. And I'm extremely grateful for how you've persevered through this volatile year. Because of your continued success, we are blessed to have the financial resources to make a difference in our communities during these unusual times. I wish you and your family a blessed holiday season. More Than Expected Phil DiPofi – President and CEO

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