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The first beneficiary did not actually receive the full 0. At that time, only 243 members had registered, which meant that the family was paid only .30, the total fund in the treasury.
State officers added another seventy-five cents to the amount.
In 1935, the insurance department reported million in force and more than 13,000 policyholders.
In the beginning, local agents or secretaries would sell the policy, adjust a claim and often do the repairs on the loss.
At the 2007 OFU Convention, delegates approved changing the name from OFUMIC to American Farmers & Ranchers.
By 1940, such prominent Oklahomans as Congressmen Jed Johnson, Will Rogers and Wilburn Cartwright were listed as “helper” participants. Townsend of Broken Bow, became the first recipient of the death benefit clause.It was sold in 1988, but Farmers Union agents continued to write business for the company.The company was reacquired in 2000 and brought back to Oklahoma where it continues to operate today.Over the years American Farmers & Ranchers has been a leader in cooperative development, legislative and education programs.Top In 1919, delegates to the Oklahoma Farmers Union (OFU) state convention directed the organization to form the Oklahoma Farmers Union Mutual Fire and Lightning Insurance Company to serve rural areas in covering farm buildings, household goods, farm implements, farm products and livestock.