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News
Frontier Farm Credit Reminds Producers to Call before Replant
MANHATTAN — Recent weather conditions have caused eastern Kansas producers to replant fall-harvested crops. Before pulling into the field, Frontier Farm Credit crop insurance specialists remind growers to first call their agent.
“Farmers need to protect themselves to ensure they don’t invalidate their insurance policy,” said Eric Wiles, Southeast Region Crop Insurance Specialist with Frontier Farm Credit.
“It’s important to call your crop insurance agent before you do anything in the field,” added Jason Spellman, Insurance Specialist with Frontier Farm Credit. “The crop must be inspected by an adjustor prior to destroying, replanting, or planting another crop,” Spellman said.
If a producer decides to plant a different crop, they should consult with their agent to go over all the options and rules that apply, Spellman said. They must have a minimum of 20 acres or 20% of the unit replanted to qualify for a replant payment. Spellman explained that there is no replant coverage available on CAT policies.
“If an adjuster does not release the field prior to replant, the farmer will not have any coverage, no matter if they qualify for a replant payment or not. It is critical to notify your agent so a claim can be filed.”
A Frontier Farm Credit crop insurance specialist can be reached 24-hours-a-day, seven-days-a-week by calling (888) 598-8329.
Frontier Farm Credit, ACA, is a $1.2 billion borrower-owned financial institution serving more than 6,000 shareholders in eastern Kansas with agricultural loans, leases, crop insurance, tax preparation, recordkeeping and transition planning.
Featured News
FFC Rural Real Estate Appraisals: A Valuable Service
A short definition of market value is “the most probable price a property should bring in an open and competitive market.”The appraisal staff of Frontier Farm Credit, comprised of seven highly trained state certified professionals, specializes in appraising (providing opinions of) market value of rural real estate in eastern Kansas. FFC appraisers have had the privilege of serving Farm Credit customers and fee appraisal clients for a combined total of more than 110 years. Continue Reading>>
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President's Corner
President's Corner
The first half of 2008 has drawn to a close and your Association continues to grow at a rapid pace. As of midJuly your Association has grown to nearly $1.2 billion in accrual loan volume at over 97% acceptable credit quality, based upon adding over $271 million in new loan volume. Our newly formed crop insurance team – in addition to providing crop revenue insurance coverage for our customers – has added over 80,000 acres of crop hail coverage……and continue to add coverage for more customers daily. Our newly formed business services team has completed
tax returns, records, and/or business consulting for over 230 customers. In April we completed the distribution of $4 million in patronage from 2007 earnings. Continue Reading>>
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Of Intere$t
Of Intere$t
It’s all about the dollar. As we round out the summer months
of 2008, the Federal Reserve is being scrutinized not only for the
level of interest rates and the state of the economy, but also for the level of the U.S. dollar versus other major currencies. The first half of the year saw the U.S. dollar deteriorate in value versus other currencies, at least partially because of the level of real interest rates in the United States. Real interest rates take into account stated rates plus the implied rate of inflation. While a weak dollar is good for exports because foreign currencies are able to buy more of our goods and services, it is bad for the price of oil. Oil is traded in U.S. dollars all over the world. Thus if China wishes to buy Venezuelan oil, that transaction is conducted in U.S. dollars. With that, a weaker U.S. dollar means it takes more dollars to buy a barrel of oil. Continue Reading>>
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Crop Talk
Crop Talk
For most —if not all —of us agriculture has always been part of our lives. I can’t remember a year with more variables in the weather along with many other adverse challenges.
Our 41 county territory experienced problems in the wheat crop from various winter conditions. An extremely wet spring led to some flooding and delayed spring planting. To top it off, more moisture and storms packed with hail caused more stress to the wheat crop —including infestations of scab and vomitoxin. It never fails to amaze me that Kansas farmers find ways to get the job done. Outside of a few extremely wet situations, the spring crops were planted and replanted and wheat harvest was completed in our territory. Continue Reading>>
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Leasing Residual
Leasing Residual
The best of both worlds is available through FCL’s Bonus Buster Lease. You can take advantage of the new tax incentives included in the 2008 Economic Stimulus Package and still have the financial benefits of leasing. FCL will monetize the depreciation benefits and provide you with lower payments. Continue Reading>>
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Business ¢ents
Business ¢ents
We all have an estate plan. In a sense, everyone has a plan even if they haven’t formalized a written plan. A person may have a will or a trust they have developed or another plan they have put in writing. For those that have not, the state you reside in provides a plan for you. Often the most important step is to determine the objectives of your estate or transition plan. There are many ways to transfer property before or after death; the key is understanding what you desire to accomplish. Advance planning benefits both you and your loved ones. The following items should be taken into consideration when formulating your plan. Continue Reading>>
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Press Releases
Latest Press Release
- Riffel Promoted to Frontier Farm Credit Vice President of Credit Services
- Fike Promoted to Frontier Farm Credit Senior Vice President of Credit
- Frontier Farm Credit Plans to Build New Marysville Location