The Farmington Farmer’s Union is located on Front Street in Farmington. File photo
FARMINGTON —-At the Annual February 1, 2022 meeting, 17 stockholders of the Farmington Farmers’ Union re-elected two Directors and approved another historic 16% Trade Allowance for the second year in a row!
Stockholders in the Farmington Farmers’ Union receive a patronage dividend check based on the number of purchases done in the calendar year. So, for 2021, each dollar spent at the Farmington Farmers’ Union, stockholders will receive $0.16 back in the form of a check. The percentage paid out is suggested by the Farmington Farmers’ Union Board of Directors, and then voted in by the stockholders at the Annual Meeting.
Lance Bean, CPA, for the Farmington Farmers’ Union stated that the Farmers’ Union had an outstanding 2021. He exclaimed those overall sales for 2021 were up $250,000 over 2020. Cash on hand, inventory, total sales, debt ratio, and gross profit exceeded 2020.
In other business, two Directors were re-elected to three-year terms on the Board of Directors: Incumbents Bussie York of Farmington and Jeffrey Wright of Farmington. Jeffrey Wright of Farmington was also re-elected by the stockholders as Clerk again for the seventh consecutive time.
Director Craig Jordan was re-elected as President of the Board of Directors, and Director David Archer was re-elected as Vice President. The Annual meeting was held at the Trinity United Methodist Church, 612 Farmington Falls Road, Farmington, Maine.
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