Young, Beginning, and Small Farmers and Ranchers
DESCRIPTION AND STATUS REPORT ON THE YOUNG, BEGINNING, AND SMALL FARMER PROGRAM The mission statement of the program is as follows: “GreenStone Farm Credit Services recognizes the importance of young, beginning, and small farmers to the future of agriculture. The Association shall serve the unique needs of this market segment through special lending programs that extend credit in a safe and sound manner for both the individual member and the Association. GreenStone also believes in the value of education to prepare these producers to successfully compete in a highly competitive global marketplace and shall support educational opportunities for them that balance the cost of delivery with overall stockholder value.� The Association implemented a board approved YBS lending program comprised of separate components for YBS farmers. Relaxed underwriting standards and loan terms have been approved for farm operating loans, farm equipment and intermediate-term loans, and for real estate loans. These standards and terms are customized for young farmers and beginning farmers. Quantitative targets based upon reasonably reliable demographic data have been established by board policy for YBS farmers. Targets have also been established for the YBS program in an aggregate. The targets are as follows: Quantitative Targets
Measure
At 12/31/2019
1. Y oung farmers in portfolio equal to or greater than percentage of young farmers in the census
12.5%
24.0%
2. Young farmer loans at least 50% of the young farmers in census
50.0%
89.9%
3. Y oung farmers at least 10% total outstanding loan volume
10.0%
15.1%
4. Y oung farmers at least 10% of all new loans (number)
10.0%
20.8%
5. B eginning farmers at least 10% total number of loans outstanding
10.0%
38.8%
6. B eginning farmers at least 10% of total outstanding loan volume
10.0%
19.9%
7. B eginning farmers at least 10% of all new loans (number)
10.0%
28.8%
8. S mall farmers at least 40% of total number of loans outstanding
40.0%
60.0%
9. Small farmers at least 20% of total outstanding loan volume
20.0%
21.0%
10. Small farmers at least 40% of all new loans (number)
40.0%
56.9%
11. Maintain at least 50% of total loan numbers to YBS farmers
50.0%
69.7%
12. Maintain at least 30% of the total outstanding loan volume to YBS farmers
30.0%
33.1%
52
The Association has also established certain qualitative goals addressing its efforts and to implement effective outreach programs to attract YBS farmers. These goals are as follows: Qualitative Goals
Measure
At 12/31/2019
1. Related services will be offered to YBS farmers in the territory. Goals: Book sales of at least one Association offered related service to at least 5% of YBS farmers in the Association portfolio.
5% Young 5% Beginning 5% Small
4.8% 5.0% 10.0%
2. Credit services and financially related services to YBS farmers will be coordinated with governmental and private sources of credit. Goals: Coordinate with the USDA 7.5% Young Farm Service Agency (FSA) to enhance 7.5% Beg. credit services to young and beginning farmers by obtaining guarantees on at least 7.5% of loans (by number) and to take advantage of the FSA young farmer financing program utilizing private second mortgage financing or other alternative financing options whenever possible.
7.5% 4.1%
3. We will implement effective outreach programs to attract YBS farmers. Goals: (a) Participate in or sponsor 10 Programs annually at least 10 YBS farmer leadership and educational programs offered in either Michigan or Wisconsin.
23 Programs sponsored
(b) Offer at least five individual 5 scholarships to deserving Scholarships YBS farmers (or potential YBS farmers) to Michigan and/or Wisconsin Universities or Colleges.
20 Scholarships offered
GreenStone Farm Credit Services
