spotlight
Summer 2014
FARM CREDIT WEST RETURNS $53 MILLION IN PATRONAGE PAGE 5
PARTNERING TO ADDRESS DROUGHT ISSUES Page 7
HABITS OF HIGHLY SECURE PEOPLE Page 11
spotlight WHO WE ARE One of California’s leading agricultural lenders, Farm Credit West is a cooperatively-owned lending institution providing financial services to farmers, ranchers, wineries and agribusinesses with offices located in the California Central Coast, Southern San Joaquin Valley and Sacramento Valley.
SPOTLIGHT is produced for the customers, employees and friends of Farm Credit West. Comments and story ideas can be submitted to the Marketing Department, Farm Credit West, 1478 Stone Point Drive, Suite 450, Roseville, CA 95661.
TA B L E O F C O N T E N T S President’s Message. . .................................... 3 Board of Directors Nomination Process.............. 4 Meet Our Director Candidates ..................... 4 Farm Credit West Returns $ 53 Million in Patronage.. ................................................5 Perspectives from the Road.......................... 6 Par tnering with Customers and Communit y to Address Drought Issues . . .......................... 7 2014 Holiday Schedule................................... 7
BOARD OF DIRECTORS Blake Harlan, Chairman of the Board .........................Woodland, CA Joseph C. (Joey) Airoso, Vice Chairman of the Board ........Pixley, CA Robert Amarel, Jr. ........................................................Yuba City, CA
Farm Credit Supports New Farming Programs................................. 8 Young Farmer/ Rancher Institute.................... 9 Secure Messaging........................................ 10
Alben F. Barkley ..............................................................Oxnard, CA
Protect Yourself Against Consumer Fraud & Scams............................................ 10
Gregory O. (Butch) Dias, Jr. .............................................Visalia, CA
Habits of Highly Secure People.................... 11
Richard J. Enns ..........................................................Bakersfield, CA
Farm Credit Renews its Commitment to the FFA................................................... 13
Douglas C. Filipponi ......................................................Creston, CA Adam B. Firestone .........................................................Buellton, CA Craig C. Gnos ....................................................................Davis, CA Robert N. Hansen ........................................................Corcoran, CA Thomas R. Heenan ......................................................Yuba City, CA
Bat ter Up.................................................... 13 Deadline for Farm Credit West Scholarships... 14 Territor y and O f fice Locations...................... 15
Mission Statement
Barry T. Powell .........................................................Sacramento, CA Edgar A. Terry .................................................................Ventura, CA
Farm Credit West will ensure The Customer
Sureena B. Thiara ........................................................Yuba City, CA
Comes First by providing superior service at competitive rates, in a timely, professional
Cornelius (Case) Van Wingerden .................................Carpinteria, CA
and ethical manner.
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Summer 2014
PRESIDENT’S MESSAGE Mark Littlefield, CEO
Greatness Versus Excellence Farm Credit West has become both larger and more complex over the past decade. But understanding how we achieve “Greatness” is still pretty simple. We focus on being highly competitive in the marketplace with a full range of products and rates, coupled with service that is second to none, and by providing a strong return on equity and a meaningful dividend. All are key elements you would look for in any business you own. We achieve a competitive position in our market by continually sharpening our expectation of results in each of the following six key financial areas: First; we have built a highly diversified portfolio, and that diversity has enabled Farm Credit West to effectively manage through uncertain economic times, while maintaining overall stability in the quality of our loan portfolio. Second; we focus on maintaining a strong and reliable earnings engine. Core earnings are derived from our primary business activity, making loans and leases to our stockholders. Over the past five years, Farm Credit West’s robust earnings have grown steadily and substantially. The improvement has come primarily through reduced credit losses, improved net interest margins, modest growth in the loan portfolio and overall control of operating expenses. Third; we focus on high quality growth. Average earning assets are the engine that power Farm Credit West’s earnings. These assets grew $332 million or 5.5% during 2013 as economic conditions continued to rebound from an investment slowdown following the 2008-2009 recession. While loan growth slowed considerably during the economic downturn, our renewed focus on competitive interest rates combined with an improved overall economy has enabled your association to return to a stable level of growth in the 5 to 6% range for 2012 and 2013. Fourth; we have centered efforts on building capital. The core surplus ratio is our key regulatory capital measure and indicator of financial strength. It is the capital that protects the association from severe events that could jeopardize future viability.
As our customers’ liquidity positions have improved, Farm Credit West has managed loan growth to enable us to build capital in preparation for future growth and expected regulatory changes. Fifth; as owners of the cooperative, Farm Credit West’s customers have the opportunity to share in the financial success of the cooperative through patronage distributions. Farm Credit West distributed a record $53 million to our customer owners for 2013 which represented 34% of net earnings, for a total of more than $305 million paid since we began the program in 2002. This Patronage payment represents a dividend of approximately 5% based on current levels of invested capital. And finally, sixth; your organization has produced effective and meaningful returns on invested capital of nearly 13% or more in each of the past five years. Your board and I believe that a solid return on equity and a meaningful dividend of nearly 5% in 2012 and 2013 would place Farm Credit West among the most attractive investments anywhere. Each of these six focus areas is designed to insure that we remain a “Great” organization, insuring our long term capacity to effectively compete for your business. I am privileged to work with a board, staff and customers who believe that Farm Credit West is about more than competitive rates and products, solid returns and dividends. These accomplishments make us “Great.” But we know that to achieve a level of “Excellence” requires something more. It requires a commitment to service and to stewardship. Service to our customers and the communities we live in, and responsible stewardship of the capital you have built and entrusted us to protect. This may seem like a small distinction between “Greatness” and “Excellence,” but I assure you it is elusive for most organizations. Our culture fosters and supports a commitment to the principles of Service and Stewardship and the results are telling. In 2013, your association provided more than $600,000 in direct support to the agricultural industries in which you operate. In addition, the staff here at Farm Credit West contributed more than 7,500 hours in service to local community and agricultural service organizations. I believe that our help in these areas is critical to insuring the long-term sustainability of farming in our area. I am proud to be part of an organization that strives for “Excellence,” and I hope that you too are proud to be owners of Farm Credit West, a truly exceptional cooperative.
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spotlight Board of Directors Nomination Process
Meet our Director Candidates
The strength and long-term success of Farm Credit West depends on continued sound leadership, vision and direction by the Farm Credit West Board of Directors. This is possible only with a Board composed of industry and community leaders who are committed to the long-term success of agriculture and Farm Credit West. The role of the Nominating Committee is an integral part of this success. This group of customers is elected by the voting stockholders at the annual meeting to serve a term of one year. Their responsibilities include screening, interviewing and selecting director candidates to appear on the ballot in each director election. Eligibility to serve on a nominating committee is limited to voting stockholders, who are not directors, director candidates, officers, employees or agents of the association. The following individuals served as the 2014 Nominating Committee for Farm Credit West: Coastal Region: Jon Cagliero, Nicholas Miller Sacramento Valley Region: Kenneth Wilson, Lynette Filter Southern San Joaquin Region: Michael Dias, Richard Young The election ballot for Board and 2015 Nominating Committee candidates will be mailed on May 25 to all eligible stockholders.
In order to provide our customers with the opportunity to learn more about the candidates for the Board of Directors, we have created individual videos in which the candidates provide information about themselves and their qualifications to be on the board. The director candidate biographical information will be included in the ballot mailing, and after ballots are mailed, video statements from each candidate will be posted on our website at FarmCreditWest.com\LearnMoreAboutUs\Director Elections starting May 25. The following individuals are running as director candidates: Coastal Region: Edgar Terry and Scott Van Der Kar Sacramento Valley Region: Craig Gnos and Sundeep (Sunny) Dale Southern San Joaquin Region: Gregory “Butch� Dias, Jr. and Charlie Pitigliano, Jr.
FFA Agri-Finance Quiz In December, Farm Credit West sponsored its 30th annual Agri-Finance Quiz at the Kern Ag Pavilion in Bakersfield. The purpose of the event was to familiarize students with the Farm Credit System and agricultural finance. Approximately 14 local FFA teams with 68 students participated.
Left to right: Mitch Porwall, Farm Credit West Kern Branch; Keon Vaughan-Helms; Olivia Velo; Jennifer Goodman; Ashley Elliott; Darin Blunt, Farm Credit West Kern Branch.
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Summer 2014
Farm Credit West Returns $53 Million in Patronage Committed. Experienced. Trusted.
February 2014 Pay To The Farm Credit West Customers $53,000,000.00 Order Of Fifty-Three Million Dollars and 00/100 2013 Patronage For FCW Board of Directors Signed Date
Farm Credit West paid a record $53 million in patronage distributions to more than 4,300 farmers, ranchers and agribusinesses in California and Nevada. The Board of Directors declared patronage distribution at 75 basis points (0.75%) relative to the average volume of eligible loan and lease assets. Paid entirely in cash, this patronage payment translates to a 75 basis point reduction in customer-owner’s effective interest rate paid in 2013. Board Chairman Blake Harlan remarks, “The Board of Directors is committed to ensuring the safety and soundness of the cooperative’s capital and are pleased to again provide a return on the customers’ invested capital to the farmers and ranchers who helped earn it.” As owners of the financial cooperative, customers have the opportunity to share in the financial success through patronage distributions. Farm Credit West’s patronage program has paid $305 million since inception in 2002. This year’s patronage distribution is 34% of 2013 net income.
“The continued success is attributed to our “Customer Comes First” model, growth in agricultural lending and a continual focus on maintaining a highly efficient operation,” states Mark Littlefield, President and CEO. “Our patronage distributions reflect the financial strength of Farm Credit West and, in turn, our customers are rewarded in cash.”
$31 50
$32 50
$33 50
$51 75
$53 75
BPS
BPS
BPS
BPS
BPS
2009
2010
2011
2012
2013
Patronage Distribution (in millions) and basis points (BPS)
Patronage Distribution (in millions) and basis points (BPS)
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spotlight Perspectives from the Road Dr. David M. Kohl Professor Emeritus, Virginia Tech
This winter’s travels have been interesting and insightful, dodging all the cold snow and adverse weather conditions. While the weather has been unpredictable and nasty, the groups have been very interested in lifelong learning and inquisitive about factors that influence their business, family, and personal lives. In my road warrior travels, one of my favorite activities is to solicit written questions from the audience. Let’s explore some of the most frequently asked questions. What will be the extent and duration of the economic moderation in the grain sector? How long will prosperity last in livestock and other sectors? The great commodity super cycle appears to be in the rear view mirror. Commodity prices have not crashed, but they have moderated. The extent of moderation will be based upon the following facts. Observe slowdown of the economies of the emerging nations, i.e. Brazil, Russia, India, China, and South Africa, as well as South Korea, Indonesia, Mexico, and Turkey, commonly known as the BRICS and KIMT nations. The current economic growth is now nearly half compared to when these economies were expanding at full speed ahead. Focus on China, the 800-pound gorilla of the emerging nations. Social unrest and natural resource issues, i.e. water quality, toxic land, and low air quality, are variables that can impact agricultural and economic trade. Do not bet your farm’s or ranch’s future on trade with China. While market potential is virtually unlimited, trade deals can quickly come and go as a result of agricultural and non-agricultural issues. Recent corn, soybean, poultry, and hog trade inconsistencies are test cases. Additionally, keep a close eye on bioenergy policy from the EPA. This aspect has been an economic mover along with Federal Reserve action. Of course, weather is always a wildcard or a black swan that can move the profit equation as well. The livestock sector, analogous to baseball, is in the early or middle innings of the cycle. The extent of prosperity will be
PAGE PAGE 6 6
based upon price-cost spreads and major market disruptors related to food and livestock, such as livestock diseases or foodborne illness outbreaks. What factors should I watch to determine if the Federal Reserve will raise interest rates? The agriculture industry has been one of the beneficiaries of stimulus from the Federal Reserve in the form of low interest rates and a weak dollar that has encouraged exports. Concerning interest rates and stimulus, watch three variables: unemployment rate, inflation, and gross domestic product (GDP) growth rate. The Fed may consider increasing interest rates when the unemployment rate falls to 6.5 percent, inflation rises above 2.5 percent, or GDP growth rate rises above 2.5 percent. Currently the unemployment rate is 6.7 percent, inflation is 1.6 percent, and GDP growth is 1.8 percent. Dr. Janet Yellen, Federal Reserve Chair, is very data-driven and will watch the direction of the U.S. economic metrics to determine whether to increase or reduce economic stimulus. What is your forecast for farmland values? Farmland values in recent years have been hotter than a pepper sprout, reminiscent of Johnny Cash’s old song I hear as I am cruising around the country in my Hertz rental car listening to satellite radio. Land values that appreciated, forming an asset bubble in the upper Midwest, now appear to be softening. Fewer buyers and more “no sales” are becoming prevalent, particularly on marginally productive or inefficient land resources. If interest rates rise, margins may be challenged because land values and cash rents may fall by 15 percent to 25 percent in the bubble areas of the Midwest, but much less on the East and West Coasts and in the South. What can I do to proactively manage my business, circumvent problems, and take advantage of opportunities in this cyclical economic environment? Many producers are challenged by cyclical extremes. These extremes create many opportunities, but also the possibility of failure. Here are some proactive tips: All major business decisions must be consistent with written business, family and personal goals. Know the cost of production by enterprise to allocate money, resources, and time to areas that provide the greatest return and fulfillment of goals. Continued on page 13
Summer 2014
Partnering with Customers and Community to Address Drought Issues “Our governing board is made up of elected local farmers and ranchers who understand, appreciate, and live the cycles of agriculture,” stated Blake Harlan, Chairman of the Farm Credit West board. “We believe it is absolutely necessary for the State and people of California to find workable solutions to improve a water system that is capable of serving our current and future needs, and Farm Credit West is committed to being part of that solution.” “We are more than just another lender,” Littlefield adds. “We are part of this community. We’ve been here since 1916, we’re experienced in weathering industry storms and we’ll be providing credit to the agricultural industry for years to come.”
Jennifer Campoy, Sr. V.P., left and Mitch Millwee, Sr. V.P., right, Farm Credit West Kern Office, present checks to Ken White, Program Manager, Community Action Partnership of Kern.
Farm Credit West continues to proactively address drought issues within the communities it serves. Recently the organization announced a partnership with CoBank and six other California Farm Credit associations to donate $100,000 to rural food banks. The program is designed to meet some of the most pressing needs created by the drought. “The impact of this water crisis is being felt far beyond our local farms and ranches,” said Mark Littlefield, President and CEO. “Farm workers and consumers are affected — especially those in rural communities which rely upon farm jobs. Many of these individuals and families are now struggling with food insecurity. While our priority is to work with our customers and partners to develop long-term solutions to this issue, we cannot overlook the immediate needs it creates.” With severe drought affecting customers throughout Farm Credit West’s 22 county territory in California and Nevada, the organization is taking a holistic view of this critical problem — through its charitable giving, community partnerships and business practices. In 2013, before the drought was recognized as a critical issue, Farm Credit West implemented an Irrigation Stewardship Loan Program with low rates and no fees encouraging sound, safe and efficient water use. The program provides loans and leases to drill new wells and improve irrigation tools. The response to the program has been significant. Based on the enthusiastic response and continuing need, the program has been extended through June 30, 2014.
Dan Oster, Vice President, left and Don O’Dell, Sr. V.P., right, Farm Credit West Tulare Office, present checks to Sandy Beals, Director of FoodLink for Tulare County, Inc.
2 0 1 4 H O L I D AY S C H E D U L E Memorial Day , Monday, May 26 Independence Day , Friday, July 4 Labor Day , Monday, September 1 Columbus Day , Monday, October 13 Veterans Day , Tuesday, November 11 Thanksgiving Day , Thursday, November 27 Christmas Day , Thursday, December 25
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spotlight Farm Credit Supports New Farming Programs California Farm Academy
Small and Ethnic Farmer Market Tour Project The UC Sustainable Agriculture Research and Education Program (SAREP) at the University of California, Davis, recently introduced a new program which introduces small farmers to conventional distributors interested in offering a line of locally grown food. The program is being funded by Farm Credit West, American AgCredit, Farm Credit Services of Colusa-Glenn, Fresno Madera Farm Credit and CoBank. “The demand for local, sustainable food is large and increasing,” remarks Gail Feenstra, food systems coordinator for SAREP. “Distributors can’t find enough locally grown produce to meet the need.”
Farm Credit West, American AgCredit and CoBank are sponsoring four students with scholarships to attend the California Farm Academy. This program, run under the umbrella of The Center for Land-Based Learning, serves as training for beginning farmers. Maureen Thompson, Farm Program Manager, explains that the students range from their 20s to their 60s. “This program is for beginning farmers,” she says. “Many of them are people who have decided to make a change of careers or have a late interest in farming.” The Academy runs 32 weeks from January through October. Students spend an average of ten hours per week at the CFA. Each student will create personalized lesson plans that include creating a business plan and also an in-depth study project focusing on their end goals. There are three components to the curriculum. During the winter most of the sessions consist of classroom courses on business planning, goal setting, soil science, crop planning, etc. The second component consists of farm visits. These field trips take students to various farming operations where they can learn about different aspects of the trade. The final part of the program is actually working the fields for practical, hands-on experience. For more information: http://landbasedlearning.org/farm-academy.php
The tours work like this: Farm advisors and Cooperative Extension specialists identify the small, specialty-crop growers in their areas, many of whom are Hmong, Mien and Latino. The growers climb aboard a bus along with tour leaders such as Feenstra and David Visher, an analyst with UC SAREP. “We have translators on board, if needed,” Feenstra said. “We drive to terminal markets, produce houses or processing facilities where growers meet face-to-face with distributors who explain their produce needs.” SAREP hosted two successful tours in Fall 2013 to a group of 46 farmers who grow fruits, vegetables, flowers and field crops. Tour participants spoke English, Chinese and Spanish and translators worked for 15 hours to ensure that each participant understood all the information shared. The success of the tours was evident in the weeks to follow. Several farmers reported back that they connected directly with produce buyers and sold much of their upcoming harvests as a result of the contacts made. To learn more about the project and how to participate, contact David Visher at (530) 758-2429.
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Summer 2014
Grocery Cart Race Helps FoodLink Farm Credit West staff and board members participated in the annual Grocery Cart Race hosted by the Tulare County Farm Bureau. Each year the Tulare County Young Farmers and Ranchers organize the game to gather up food to donate to FoodLink. The teams receive a list and a cart and have to search throughout the grocery store for the items. This year 1,178 pounds of food was collected. Race Participants
Young Farmer/Rancher Institute Farm Credit West recognizes that preserving the future of agriculture means making sure young farmers and ranchers have a strong financial knowledge base which allows them to successfully manage their operation, now and in the future. By providing farmers and ranchers with educational and leadership training opportunities, financial management seminars and a knowledge base from their banker’s perspective, Farm Credit West can assist young farmers and ranchers to succeed.
“A conference that everyone should attend. Farm Credit West gave us the chance to network and uptake a wealth of knowledge in only three days. This is the best crash-course into Ag Business I have ever attended.” — Jonathan Swift
In 2000, Farm Credit West established a Young Farmer/Rancher Institute to provide an opportunity for young professionals to gain greater insight into contemporary management topics and networking with peers.
“Meeting other young farmers/ranchers from
The 2014 Institute was held in February and attended by 24 individuals. “The future of Farm Credit West is dependent upon successful, innovative and advanced farmers. Investing in the future farming leaders is valuable to both the institute participants and the security of Farm Credit West,” remarks Tom Gulliver, Farm Credit West Senior Vice President.
challenges and opportunities facing California
The three-day Institute is held in California’s Central Coast. Professors from the Agribusiness Department of Cal Poly, San Luis Obispo, as well as Farm Credit West staff and local agribusiness professionals, present topics and lead discussions.
“This has been a fantastic experience. I have
The Institute has provided learning opportunities to more than 168 graduates. Each graduate gains from the program useful tools that can be implemented in their farming, ranching and/or agribusiness operation.
of knowledge and opportunity for networking
the diverse area in which Farm Credit West operates gave me a great perspective on the agriculture, as well as how we can work to succeed in our changing industry.” — Philip Adam
learned far more than I could have imagined. I was a bit apprehensive as to how much I could learn at a seminar such as this, but the wealth to which I was exposed blew me away!” — Ryan Steifvater
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spotlight SECURE MESSAGING
As Farm Credit West continues to see an increase in fraudulent attempts to gain access to confidential customer information, we have
Protect Yourself Against Consumer Fraud and Scams
implemented internal procedures, processes and applications to improve customer security. One such application is “Secure Messaging.” Recently added to FarmCreditWest.com, customers can exchange confidential e-mails and files with Farm Credit West staff with complete confidence. Secure Messaging is easy to use — just login to FarmCreditWest.com using your Member ID and password. This additional login will help protect the confidentiality of your information. If you don’t have a Member ID and password, you can create a Secure Messaging account on the Farm Credit West website. Farm Credit West is concerned about our customer’s privacy and will continually take steps to protect your confidential information.
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USA.gov has put together a web page with advice on how to protect yourself against consumer fraud and scams. They keep a regularly updated list of current scams and have a page of official government web resources for learning and reporting internet fraud.
Summer 2014
Tech Watch Habits of Highly Secure People A little vigilance can go a long way when it comes to safety and security, whether you’re trying to keep sensitive work information private or keep yourself from physical harm. Here are some simple habits to incorporate into your life, no matter where you are:
be and when. Create a buddy system for walking to
1. Keep mum.
Make sure your high-tech equipment is hidden from
your car or public transportation, or ask to be escorted by a security guard.
5. Check for credentials at the door. People making pickups and deliveries should properly identify themselves (with documentation).
6. Don’t advertise.
Never share sensitive information — including
“window shopping” thieves. At home, hang window
passwords — via phone or email. Avoid discussing
treatments to block the view. At work, keep your
sensitive work matters in public places, such as
computer screen turned to thwart peepers.
cafes and elevators (or on Facebook).
7. Park smart.
2. Keep your belongings on lockdown.
Even if you’re parking during daylight hours, take the
A messy desk may be the mark of a genius, but it
time to look for areas that appear safe and well-lit, in
also makes you vulnerable to thieves. Store important
case you leave after dark.
papers and documents in a locked cabinet or drawer.
8. Don’t leave valuables in your car.
Keep your keys, briefcase, sensitive data, smartphone and laptop with you at all times or locked up.
3. Beware of tailgaters. You wouldn’t let a stranger follow you through your front door, and by the same token, you shouldn’t let anyone slip into your workplace without credentials. “Tailgating” is the term for sneaking through a door before it shuts behind someone who has a key or access card.
4. Have a plan if you stay late at work. Avoid staying at your workplace after hours if you’ll be there alone, says the National Crime Prevention Council (NCPC). But if you must, let a family member and security personnel know in advance where you’ll
Take them with you, especially when valet parking. The trunk is not a secure alternative.
9. Mark your equipment and back up your data. The NCPC suggests putting identification numbers on all of your electronic equipment, keeping an updated inventory list of your valuables, and keeping back-ups of your data in a secure location.
10. Travel safely. Remove important information from your wallet or briefcase as well as your laptop or smartphone before traveling. Store sensitive data on a thumb drive (kept on you) or cloud software. Keep copies of any documents or data you do take in a separate and safe location.
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spotlight
Lease through Farm Credit West and Save Money on Sales Tax! Thinking of purchasing a new or used truck and looking to save money on the transaction? Consider Farm Credit West’s leasing program!
As Farm Credit West is a Federal Instrumentality, the California tax
option price is 10% of the original equipment cost, including any
code permits Farm Credit West to lease pickup trucks, over-the road
warranty. The maximum residual purchase option price can range up
truck tractors, and trailers exempt from sales tax during the term
to 30% depending on the age of the equipment and the lease term
of the lease. Therefore, sales tax is excluded in the dealers invoice,
can be a minimum of two years with a maximum of five years.
and is not collected on the lease rentals.
The lease agreement contains an option to renew the residual
The only tax due, is at the end of the lease term when ownership
an additional one to three years, depending on the age of the
of the equipment is transferred to the customer and the tax is based
equipment. There is no security deposit and no mileage restrictions
on the residual purchase option price. The minimum residual purchase
on the transaction.
If you are interested and wish to learn more details about saving money please contact your loan officer.
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Summer 2014
Continued from page 6
BATTER UP!
Liquidity, liquidity, liquidity! This is the new financial metric that needs to be showcased in financial business analysis with extreme volatility. The cash component will be very important as cash will be king regardless of enterprise, size, or scope of your business. Surround yourself with good people, i.e. employees, management team, suppliers, lenders, etc. Today’s agriculture industry is a high-stakes business that requires talented people who can execute and walk the talk. This concludes my perspectives from the road. Agriculture is in transition economically and it is up to businesses and individuals to plan and execute in order to take the high road to prosperity and fulfillment in business and life.
Farm Credit Renews its Commitment to the FFA California Farm Credit organizations announced their support of the California Future Farmers of America with an annual commitment of $40,000 over the next three years. The contributing organizations include Farm Credit West, CoBank, American AgCredit, Fresno Madera Farm Credit, Golden State Farm Credit, Farm Credit Services of Colusa-Glenn, FCS Southwest and Yosemite Farm Credit.
Farm Credit has announced a new partnership with the Fresno Grizzlies. The partnership involves four California-based Farm Credit associations as well as Denver-based CoBank, which serves agricultural cooperatives throughout the state. Participating associations include Farm Credit West, American AgCredit, Fresno Madera Farm Credit and Golden State Farm Credit. Farm Credit will sponsor the Grizzlies’ Farm Grown Friday home games and participate in both the Farm Grown magazine and Grizzlies Community Fund initiatives — including the Farm Grown program. Farm Grown, provides agricultural awareness, while strengthening knowledge of the farming tradition in the Central San Joaquin Valley.
Erin Coburn, second left, Farm Credit West and Brittany Watts, second right, Colusa-Glenn Farm Credit, present FFA a check representing Farm Credit’s three-year commitment.
“This partnership certainly brings to light the vital role Farm Credit plays in providing financial support to the Central Valley agriculture and farming industry,” stated Fresno Grizzlies Director of Corporate Partnerships, Jerry James. “It will also expand awareness of the Farm Grown program to the industry beyond the Central San Joaquin, increasing our ability to promote agriculture and farming sustainability here at the stadium and in surrounding communities.”
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spotlight
Take advantage of us. Farm Credit West Advantage Account An easier way to do business with Farm Credit West Farm Credit West understands how important cash flow is to the success of your business. The FCW Advantage Account is a cash management tool that links your operating loan to a new Farm Credit West checking account.
Features • Check writing capabilities • Automated sweep to FCW operating loan • Deposit checks right from your office
Advantages
• Receive ACH third party payments
• Reduce your interest expense
• Put your idle funds to work
• Monthly mailed statements
• Maximize your investment earnings
• Save time and management resources
• Low monthly fee
Deadline for Farm Credit West Scholarships Farm Credit West is committed to supporting Since 1994, Farm Credit West has provided
Applicants must be college students enrolled in agricultural programs and exhibit academic excellence with a GPA of 2.7 or higher. They must also either be members of Farm Credit West, a spouse or dependent of a Farm Credit West member.
scholarships to 159 scholars and committed
The deadline for the 2014 applications is July 1.
$568,000 to this program.
For application and additional information visit our website at FarmCreditWest.com or contact Rebecca Derby at 916-780-1166.
the role of education in agriculture’s future.
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Summer 2014
Territory and Office Locations
Administrative Office 1478 Stone Point Drive Suite 450 Roseville, CA 95661 916.780.1166 Capital Markets 1446 Spring Street Paso Robles, CA 93446 805.237.0998
Yuba City
Carpinteria
Woodland
1135 Eugenia Place, Suite A Carpinteria, CA 93013 805.684.8771
ÂŤRoseville
Farm Credit West ACA Main Office
Dinuba 531 N. Alta Avenue Dinuba, CA 93618 559.591.9378
Hanford
Hanford
Dinuba Tulare
1111 W. Lacey Boulevard Hanford, CA 93230 559.584.2681
Capital Markets Templeton Bakersfield Santa Maria
Kern County
Carpinteria Ventura
19628 Industry Parkway Drive Bakersfield, CA 93308 661.399.7360 Santa Maria
Ventura
1178 Tama Lane Santa Maria, CA 93455 805.922.7991
2031 Knoll Drive Ventura, CA 93003 805.477.1020
Templeton
Woodland
175 Cow Meadow Place Paso Robles, CA 93446 805.434.3665
440 Pioneer Avenue Woodland, CA 95776 530.666.3333
Tulare
Yuba City
200 E. Cartmill Avenue Tulare, CA 93274 559.684.1478
900 Tharp Road Yuba City, CA 95993 530.671.1420
Territory and Office Locations
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1478 Stone Point Drive Suite 450 Roseville, CA 95661
He’s not an account, he’s Joseph. We live here, work here, our kids go to
school here. Maybe with your kids. To us, you are more than a customer, you’re part of our lives. When you come to us for financial help you’ll get our agriculture expertise, and a lot more. You’ll get a handshake and our word — a promise — to be here for you when you need us. We believe in service. We believe in you. We are Farm Credit West.
800-909-5050 • www.farmcreditwest.com