AFC’s 88th Annual Membership Meeting: A Solid Foundation
News
At Alabama Farmers Cooperative’s 88th Annual Membership Meeting in Montgomery, President and CEO Rivers Myres took the stage to proudly reflect on the strength, resilience and heart of AFC and its people.
AFC’s story began in 1936 when 11 Co-ops pooled $11,000 during the Great Depression to form Tennessee Valley Fertilizer Cooperative. Myres recounted how this bold action laid a solid foundation for the future of AFC. “Think about how difficult that must have been during the Depression,” Myres said.
Over the next decade, things did not get easier. Thousands were called to serve the country in World War II, and hundreds of thousands of Americans lost their lives. Myres remembered a personal hometown hero, Bobby Wing, who went missing in action in 1943. To Myres, Wing represents one of many Americans who made the ultimate sacrifice for each of us.
Similar circumstances were experienced during the Korean War in the 1950s and the Vietnam War in the 1960s. Myres shared a photo of AFC Honorary Board Director, Sam Givhan, who earned a Purple Heart for his service as an O-1 Bird Dog pilot flying reconnaissance missions in Vietnam. “I didn’t truly recognize the sacrifice these soldiers made for us until I was with Sam in D.C. at the Vietnam War Memorial a few years ago,” Myres recounted. “He was looking for the names of his two groomsmen who didn’t make it back.”
Economic pressures began in the 1970s and led farmers to drive 3,000 tractors to Washington, DC to bring attention to their struggles. The economic crisis peaked in the 1980s, which was the worst decade for farming in America since the Great Depression.
Myres also spoke to the devasting impacts a natural disaster can have on a crop and shared a personal story of how Hurricane Andrew devastated their first cotton crop after he and his siblings inherited the family farm following his father’s death in 1992.
“How many in here have lost a crop to a natural disaster or livestock?” Myres inquired. Numerous hands raised. “We put all that money in, take it all the way to the end and then lose it.” He paused to ask the audience another pointed question – “Why do we do it?!” – before a photo of his young children and a bumper cotton crop appeared on the screen a few seconds later. “We do it for our families and our communities.” Myres continued.
As Myres closed, he reflected on AFC’s strong foundation and reminded the audience that while we are in the midst of challenging times– we’ve been here before and we will overcome. Myres expressed optimism for the future and invited Bonnie Plants President and CEO Mike Sutterer and GreenPoint Ag President and CEO Jeff Blair to the stage. Sutterer shared information about Bonnie’s exciting new marketing partnership with Martha Stewart and how data and AI are transforming the way Bonnie serves AFC’s members more efficiently. Blair shared a powerful message about his life’s journey and how a recent health scare reemphasized the importance of leaning into our interconnectedness to support the American farmer.
Today, AFC’s initial $11,000 investment has grown into $369 million in equity. Myres attributes that to AFC’s strategic plan for success –– the three P’s: People, Partnerships and Profits. “We’re a family. We know who we are, where we came from and we understand the responsibility to make this dirt a better place to live.”
Today, AFC’s initial $11,000 investment has grown into $369 million in equity. Myres attributes that to AFC’s strategic plan for success –– the three P’s: People, Partnerships and Profits. “We’re a family. We know who we are, where we came from and we understand the responsibility to make this dirt a better place to live.”
Chief Financial Officer Brad Benson explained, “While the last two years have certainly delivered less than desirable results, AFC’s overall financial position remains strong, with ample working capital, low debt and substantial investments in our joint ventures,” said Benson. He emphasized that AFC has also not wavered in its strategic initiatives of providing excellent service and delivering generous incentives and cash returns to the membership.
Exiting the grain business and divesting AFC’s investment in Faithway Alliance were two difficult but strategic decisions that allowed AFC to remain financially strong during turbulent times. AFC generated a total of $16 million in patronage and retired $4.1 million of equity back to its members in Fiscal Year 2024.
To conclude the membership meeting, AFC Chairman Jeff Sims shared a life lesson he learned while working with his grandfather 45 years ago. In the blistering July heat, Sims and his friends spent all day and into the night cutting and baling hay before the rain came. Just when they thought they were done, Sims’ grandfather suggested they had time for one more load. “During the middle of that, my grandfather told us, ‘Boys, you all don’t look all down and out about having to work so late. Hard work is good for you. Hard work, it’ll get you ahead in life. You’ll appreciate it when you get older’,” said Sims.
At the time, Sims didn’t realize how true those words were and how one sentence would stick with him throughout his life: “Hard work is good for you.”
As he looked around the room, Sims reflected on the hardworking spirit of the AFC team and emphasized that everyone plays an important role in AFC’s success. “If we all continue to work hard and do our part, we will remain perfectly positioned for success going forward. As Rivers likes to say, you can ‘Watch us win together’!”
Retirement Awards
AFC’s 88th Annual Meeting culminates with an awards banquet celebrating the achievements of its Co-op members. At this year’s event, AFC Chairman Jeff Sims recognized the retirement of two long-time Co-op leaders, John Curtis and John Holley.
After 45 years of service at the Co-op, Tennessee Valley Cooperative President John Curtis hung up his boots. He began his Co-op career as a “field man” when there were 30-plus dairies, a feeder pig sale and no-till wasn’t a thing in Limestone County. “The Co-op is a way of life. I’ve got two families: blood family and my Co-op family,” Curtis said.
Now retired, Curtis plans to work with his wife, Donna Jo, on her cattle and hay farm as well as spend quality time with his six grandchildren who live nearby. He will be replaced as President of Tennessee Valley Cooperative by Chris Carter.
Tennessee Valley Cooperative-Moulton General Manager John Holley was also honored for his 46 years of dedication and service to the Co-op. Holley began his career “doing whatever needed to be done” including driving a spread truck, mixing and stacking feed in the warehouse and maintaining the grain elevator. “I am fortunate to have been able to work around a lot of good people,” said Holley. “They helped shape the way I ran things at the Co-op, and I appreciate all the work they did.
Holley plans to spend his free time working on home and farm projects and spending time with his five grandchildren. John Appleton replaces Holley as the location manager.
Master Pilot Award
Before concluding the event, honorary Board of Director and U.S. Army veteran Sam Givhan was celebrated and honored with a standing ovation as he received the Wright Brothers Master Pilot Award by the Federal Aviation Administration (FAA).
The award, named in honor of Orville and Wilbur Wright, is the highest honor given to pilots from the FAA. To earn this prestigious award, pilots must have demonstrated professionalism, skill and aviation expertise and maintained safe operations for over 50 years.
Givhan fought in the Vietnam War as an O-1 Bird Dog Pilot. There, he earned the Distinguished Flying Cross, Bronze Star, Purple Heart and 25 Air Medals.