EVOLVING FOR THE FUTURE

Farm Credit East accomplished a lot in 2022. We kicked off the year welcoming 80 employees and 1,300 customers following the successful merger with Yankee Farm Credit. We completed 20% more tax returns; grew our loan volume to $10.6 billion; and reached $32 million in financial services revenue.

Your cooperative remains financially strong. The board of directors is committed to returning to members funds not needed to operate or capitalize the cooperative. For the full year 2022, customer-owners received $117 million in patronage dividends. This represents 1.25% of average eligible loan volume for our farm customers. View 2022 financial highlights on the corresponding page.

In 2022, Farm Credit East also continued to advance its forward-looking strategy. We launched a modernized website and enhanced customer portal called Farm Credit Connect. Through Farm Credit Connect, we aim to enhance how customers can do business with us digitally.

To further our strategy in the year ahead, we will evolve our credit and financial services delivery to provide more value to our customers and position your cooperative for the future. Learn more about our strategic direction and key 2023 priorities on page 6.

Our commitment to the next generation of agriculture and the rural communities we serve also remains strong. Through our FarmStart, GenerationNext and Young,

Beginning, Small, Veteran farmer programs, we aim to invest in the next generation of agriculture, forest products and commercial fishing while also providing the training and development to help these young entrepreneurs be successful. Farm Credit Northeast AgEnhancement grants and the Lipinski Rural Initiatives Award, now in its third year, invest in programs and projects that are enhancing the region’s agriculture and bolstering rural communities and infrastructure. Additionally, we provide scholarships to FFA students, students pursuing careers in ag-related fields, and agricultural educators to encourage and support individuals on their path to becoming the industry’s future leaders.

As indicated by many of these programs to support the next generation, Northeast agriculture has a bright future. Here at Farm Credit East, our continued relationship with customerowners remains our top priority. We are evolving our business to better serve you, our customers. We aim to remain a trusted financial partner to the region’s agriculture, commercial fishing and forest products businesses into the future.

Michael Reynolds, CEO Laurie Griffen, Chair