AgCountry Farm Credit Services
June 2022
G RO W LEVERAGING YOUR
RESOURCES
AgCountry Farm Credit Services / GROW / June 2022
A Letter From
The CEO Greetings,
Momentum is a funny thing. When you have it, everything around you seems to be moving in unison. However, when you do not have it, the weight of the world can feel like it is on your shoulders. Reflecting on the past few years, it seemed like the agriculture industry was starting to build some momentum in the right direction. Farm profitability has increased. Commodity prices are near all-time highs. Land values are rising alongside improved commodity prices. Each of these examples would normally give farmers and ranchers a sense of positive momentum, but roadblocks have popped up to slow our momentum. Fertilizer prices have skyrocketed. Even before the Russian-Ukrainian conflict began, prices were rising rapidly. Fuel costs have also been moving higher. The average price for diesel fuel has more than doubled since late 2020. High commodity prices for corn and soybeans are great for crop farmers but very challenging for livestock operations. The cost of feed is eating away at existing profitability from strong consumer demand for animal proteins. The Federal Reserve has begun raising interest rates to try and tame inflation, which is higher than we have seen in nearly 40 years. We have not even mentioned the delayed planting season across much of our territory due to poor weather or the return of avian influenza. Facing all the ups and downs of farming and ranching can be tiresome. Thankfully,
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resources exist to help provide support. AgCountry Farm Credit Services always stands as a financial resource to you and your farming operation. If you are ever unsure about a decision, please do not hesitate to contact your local office. We have specialists who excel in many aspects of the business who can analyze your situation and help you make sound decisions. Now, more than ever, it is important to have a financial services provider that is committed to the long-term success of its customers. There is little doubt that farming and ranching can be stressful. Sometimes, we just need to talk to someone. To assist on this front, AgCountry customers can access the LifeWorks Assistance Program free of charge. LifeWorks can confidentially support you with almost any issue, whether related to health, family, money, work, or anything in between. Please visit AgCountry.com for more information on the LifeWorks Assistance Program. Your well-being is important to us. Being memberowned means looking out for those that we serve. Again, please feel free to contact us at any time. May you have a safe and successful growing season! Sincerely,
Marc Knisely, CEO
$76 Million Paid Out in Patronage 2021
AgCountry Farm Credit Services / GROW / June 2022
TABLE OF CONTENTS 4
CROP INSURANCE REMINDERS
5
OUR APPROACH TO INTEREST RATES
6-7
IS MARGIN PROTECTION RIGHT FOR YOU?
8-9
OUTLOOK FOR INPUTS
10-11
SUCCESSION AND RETIREMENT
12
UPCOMING FARM SHOWS
13
AGCOUNTRY’S YBF PROGRAM
14
LIFEWORKS
15
ONLINE SERVICES
16-17
2022 HIGH SCHOOL SCHOLARSHIP RECIPIENTS
18-19
GIVING SUMMARY
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PHOTO CONTEST
The information in this magazine has been prepared for informational purposes only and does not constitute investment advice.
AgCountry.com
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AgCountry Farm Credit Services / GROW / June 2022
CROP INSURANCE
REMINDERS!
IMPORTANT DATES TO REMEMBER (Spring Crops Only)
JUL
15
AUG
15
Acreage Reporting Deadline
MPCI Premium Billing
JUL
31
AUG
15
The Fall Forage Seeding Sales Closing Date
Hail Premium Cash Discount Date
The 2022 Annual Meeting is Fast Approaching! Willmar, MN August 4, 2022 9:00 AM Willmar AgCountry Office 4401 Hwy 71 S, Willmar, MN 56201
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AgCountry.com
AgCountry Farm Credit Services / GROW / June 2022
Our Approach to
Interest Rates Written by: Becky Thibert
Chief Finance Officer At AgCountry, our interest rate philosophy is simple – we charge only what we need to remain financially strong as your cooperative. Because our variable rate cost is closely aligned with the federal funds rate and 90-day Treasury bill rates, we typically increase or decrease our variable rate following an announcement by the Federal Reserve, aka “the Fed.” At times, AgCountry has been able to absorb an increase in the fed funds rate without increasing customer rates. Other times, including earlier this year, we have passed increases along to variable-rate customers.
The funds we lend to customers are a combination of our $2.4 billion in equity and funds we borrow from AgriBank, our funding bank. AgriBank works with the Farm Credit Funding Corporation to issue high-quality debt securities (bonds, discount notes, etc.) to investors. Unlike some of our competitors, we don’t have checking or savings deposit funds available to lend to customers. Instead, we do have a very efficient, effective Treasury department at AgriBank to keep our cost of funds competitive so we can continue to meet your financing needs.
The Fed is predicted to increase the federal funds rate in both June and July. We will not pass along a variable rate increase on July 1. Our merger technology conversion is scheduled on that date, and a successful technology conversion takes precedence over a rate increase. Any increases that are based on Fed movements will be postponed to August 1.
Serving Agriculture and Rural America
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AgCountry Farm Credit Services / GROW / June 2022
Is Margin Protection Right For You? Written by: Amanda Pilgrim
Senior Insurance Specialist Even though Margin Protection has been around for a few years, you may not have heard much about it before the Fall of 2021. At that time, it started to look more appealing based on where prices were at that time, along with input costs, which caused Margin Protection to gain traction along with the Supplemental Coverage Option (SCO) and the Enhanced Coverage Option (ECO). We are going to explore what Margin Protection is, how it works, provide an example of it, and take a look at the history of prices for it. What is Margin Protection? Margin Protection is available in select counties for corn, soybeans, and wheat. Margin Protection allows you to consider certain variable costs of production in formulating the insurance guarantee. It is an area-based option that uses county-level estimates of average revenue and input costs to establish the amount of coverage and indemnity. Ultimately, it diversifies your risk management strategy with different variables than your multiperil crop insurance (MPCI) policy by insuring some risks associated with yield, crop price fluctuation, and increases in the prices of production inputs. How does Margin Protection Work? Margin Protection can be purchased by itself or with a Yield/Revenue Protection policy as long as it is written with the same approved insurance provider. Margin Protection uses a different price period than the standard MPCI policy. For a 2023 Margin Protection policy on corn, soybeans, and wheat, the Projected Price and Cost Discovery Period is August 15, 2022 to September 14, 2022. Margin Protection includes a harvest Price Option, which is the same harvest price as a Revenue Protection policy (announced in the Fall of 2023). It also uses the same Risk Management Agency
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(RMA) Expected and Harvest Yields as SCO/ECO and area revenue protection. Prior to the sales closing deadline of September 30, RMA will release the following information for each county: • • • •
Expected county yield Projected price Expected cost Expected margin is calculated
After Harvest, RMA releases the following for each county: • • • •
Final county yield Harvest price Harvest cost Harvest margin is calculated
When signing up for Margin Protection you will pick coverage levels that will range from 70% to 95% as well as a protection factor that will range from .8 to 1.2. Liability is based on an expected margin for the crop. There are then two types of inputs that are considered when determining the margin: Those subject to price change and those that are not.
Crop Corn
Inputs Not Subject to Price Change
Allowed Inputs Subject to Price Change
Seed, Machinery, Operating Costs Diesel, Urea, DAP, (other than fuel), & similar Expenses Potash, Interest
Diesel, DAP, Soybeans Seed, Machinery, Operating Costs (other than fuel), & similar Expenses Potash, Interest Wheat
Seed, Machinery, Operating Costs Diesel, Urea, DAP, (other than fuel), & similar Expenses Potash, Interest
An indemnity will be triggered if the harvest margin is less than the expected margin. If there is a loss paid under the Revenue Protection policy, the indemnity amount from that policy will be subtracted from any loss under the Margin Protection policy. Indemnities are paid out when final county yields are available (spring of following year).
Your Best Total Solution
AgCountry Farm Credit Services / GROW / June 2022
Margin Protection Corn Example with MP-Harvest Price Option (HPO)
INDEMNITY: (Trigger Margin - Harvest Margin) X Protection Factor
Calculating an MP trigger at 95% coverage, 1.1 protection factor, and a small commodity price increase. *Costs that are taken into account for Expected Costs include urea, diammonium phosphate, monoammonium phosphate, potash, diesel, and interest rate. To calculate the Expected Cost, you multiply the quantity of each allowed input by the input’s projected price.
($466.21 - $407.25) X 1.10=$64.86/acre Margin Protection Reminders •
EXPECTED REVENUE: Expected County Yield X Margin Projected Price 145 X $5.05=$732.25
•
You can have a Margin Protection policy and still buy an underlying Revenue Protection or Yield Protection policy in the spring.
•
The expected revenue used in setting the trigger margins will reset if the Harvest Price is higher than the Projected Price.
EXPECTED MARGIN: (Expected Yield X Max (Projected Price, Harvest Price) - Expected Cost* (145 X $5.05, $5.35) $285.00*=$490.75
•
You cannot have both SCO or Whole Farm Revenue Protection and Margin Protection, but you can have ECO with Margin Protection.
•
Farmers and ranchers who purchase a Yield Protection or Revenue Protection policy get a premium credit on the Margin Protection premium.
HARVEST REVENUE: Final County Yield X Harvest Price 135 X $5.35=$722.25 HARVEST MARGIN: Harvest Revenue - Harvest Cost
•
If triggered, you will receive both a Margin Protection and Revenue Protection indemnity in two separate payments to help with cash flow, but your total indemnity will be the greater of your Margin Protection indemnity or Revenue Protection indemnity.
•
The deadline to purchase Margin Protection for the 2023 crop year is September 30, 2022.
$722.25 - $315.00=$407.25 TRIGGER MARGIN: Expected Margin X Coverage Level $490.75 X 95%=$466.21
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It is area-based and therefore, it may not reflect what happens on your individual farm. You may have a decrease in your margin depending on the county you are in, or you may not receive an indemnity.
Margin Protection Price History Crop/Year
MP Projected Price
Harvest Price
Corn 2022 2021 2020 2019 2018 2017 2016 2015 2014
$5.06 $3.82 $4.03 $3.95 $3.97 $3.74 $3.98 $4.03 $5.09
TBD $5.37 $3.99 $3.90 $3.68 $3.49 $3.49 $3.83 $3.49
Soybeans 2022 2021 2020 2019 2018 2017 2016 2015 2014
$12.56 $9.36 $9.32 $9.02 $9.66 $9.38 $8.75 $10.33 $11.97
TBD $12.30 $10.55 $9.25 $8.60 $9.75 $9.75 $8.91 $9.65
Wheat 2022 2021 2020 2019 2018 2017 2016 2015 2014
$7.76 $5.68 $5.51 $6.21 $6.30 $5.40 $5.61 $6.55 $7.54
TBD $9.21 $5.06 $5.05 $5.95 $6.76 $5.04 $5.10 $6.17
If you are wondering if Margin Protection is available in your county, you can find the county lists by crop at marginprotection.com. Hopefully, after having read this article, you will now be able to use this information to help determine if Margin Protection is the right fit for you. If you have any questions on Margin Protection or would like to walk through more examples by using AgCountry’s Margin Protection Indemnity Calculator, please feel free to reach out to your closest AgCountry crop insurance specialist.
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AgCountry Farm Credit Services / GROW / June 2022
OUTLOOK FOR
INPUTS
Written by: Katie Tangen
Marketing Education Specialist Grain markets have been a wild ride for the past year or more, but one thing that hasn’t been discussed much is how volatile fertilizer and fuel costs have been. There’s no easy answer to any of that, but some background on where these markets have been and where they are going can help us plan for the future. There are three main items that contribute to the rise in costs, and one item that may be able to temper that rise in costs, and one item that I think may be able to temper that rise, at least in the short term. Attention to these market movers doesn’t guarantee the “right” decision, but it can help producers make the most educated decision for their operation
Inflation Price inflation coming out of the COVID-19 pandemic has been hot and truth be told, it’s a double-edged sword for farmers. Inflation has helped drive commodity and asset prices higher but not just on one side of the ledger. There isn’t much to be done here, but what is important is that producers remember they are working on a margin. High grain prices invariably bring about high input prices; that’s part of the marketplace. Making sure you
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manage sales and purchases in tandem is more important than ever. At this point in the season, fertilizer is being purchased. You may want to think about if you have sold enough grain to offset that cost. If not, it is something to consider. You can start looking ahead to next year. Seasonally, the coming months offer some of the better fertilizer pricing opportunities for the 2023 season and the same principles apply. If you buy fertilizer, sell grain. Fuel gets to be a little trickier to determine, but it is the same idea. Don’t forget interest expenses. While that’s not as easy to hedge, keeping your debt levels manageable will be important.
Shipping and Logistics Time is your friend. It is a principle that serves producers well in considering grain sales, but it is also something that can be invaluable in making purchasing decisions. Give yourself and your supplier time. Some things are moving better, some are not; but if you are open with your supplier and tell them what you need well ahead of time, they can plan accordingly. Everyone is short on things from the plastic needed to make a jug of chemical to certain salts needed in the production. Changes in certain shipping practices are underway that should help out as well (less shipping of empty containers back and forth, different inventory management practices, etc.). What producers can do is help ease the rush for “just in time.” When it comes down to it, possession is everything. Just remember you have to be able to keep whatever it is you possess in condition - especially chemical.
AgCountry.com
AgCountry Farm Credit Services / GROW / June 2022
Russia/Ukraine Tensions in the Black Sea are not new to history but what is newer is how interwoven the world has become. Additionally, Ukraine is a major producer and exporter of wheat, corn, sunflowers, and barley. Russia is a major exporter of crude oil products, steel, coal, and fertilizers. The thing about fertilizers is that when it gets right down to it, these things are produced from the ground. You cannot do much to move natural resources. High grain prices going into the 2022 crop season, as well as breakdowns in the logistical chains, further tightened availability. The more accustomed the world gets to having Black Sea shipping disrupted, to having sanctions on Russia, the “easier” things will get. The problem will still exist in some forms, but shipping routes and those merchandising the products will become better equipped at handling it. Again, using seasonality to your advantage is something to consider. These three issues place the most stress on input prices heading into fall. There is not a magic bullet, but sound management practices and knowing where your margins are will be invaluable. So, what is the mitigator? At this point, the mitigator looks like the weather. A cool, wet spring delayed planting and lessened that “everybody needs it now” tone that we so often see. Given the speed of the supply chain and the price levels that especially fertilizer were rising to in early March, there was concern about how producers would get spring fieldwork done in time. Planting delays forced that issue, spreading out fieldwork across the U.S. Unfortunately for some, it also meant that they have acres that may not get planted. It was not ideal for grain growers, but it does provide a much-needed reset that should help everyone catch up and increase local and regional supplies for the 2023 season.
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AgCountry Farm Credit Services / GROW / June 2022
Ensure Your Important Legal Documents
“Grow”
With Your Operation Written by: Andy Zenk
Consultant in Succession and Retirement Planning With “grow” as the theme for this publication, I think it is important to ensure that your planning documents “grow” with you – that you change and update them as your life and your business change. We are going to examine two common documents - a last will and testament and a buy-sell agreement - to exemplify the importance of regularly reviewing and updating to ensure they meet your needs. A last will and testament (“will”) is a legal document that details your instructions on how to handle your property and assets when you pass away. Wills are necessary at all stages of life and asset levels. As life changes, so does the need to change your will. However, it is easy for people to put that task off, and it happens all the time as there is no deadline to get a will done or updated. We all have a deadline; we just don’t know when. If the will isn’t updated when our deadline hits, it can be a major problem. Consider the common example where a young married farming couple with three minor children decide to do a will. The goal at that time is to make sure the assets go to the kids in an equal, protected manner and appoint a legal guardian for the minor children, should both parents die. The will is drafted to address those goals and the couple signs it. Time goes on, as it always does, and 25 years have passed. The couple’s children are all grown and have families of their own. Further, they all have their own careers, with one child working on the family farm as an employee. The assets have grown too, whereby now the couple has a sizeable estate and an estate tax issue. They have grown in their profession and in their family. They want to see their farming child take over the family farm and they are working on a transition plan to address that; however, they have not updated their wills. What happens if there is a sudden death? Short answer: there will be problems. Their goals today will not be met with their outdated wills.
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AgCountry Farm Credit Services / GROW / June 2022
Consider the other example given above: a buysell agreement (buy-sell). These are legal contracts created by owners of a business that detail mutually agreed to terms for what happens with an owner’s share of the business in the event of a death, disability, departure, divorce, or dissolution of the business, also collectively known as “triggering events.” The buy-sell agreement decides three questions in the event any of the triggering events occur:
Although their assets and families have grown, their partnership agreement/buy-sell agreement has not been updated. If an owner died, the buy-sell agreement’s outdated decisions would not meet what their goals are today. For one, the surviving spouse would have to sell to the others with no option to transfer ownership to their farming child. Second, if the other owners are buying it, can they cash flow the payments over 10 years? What is the value? They have grown, but the buy-sell agreement has not grown with them. If there is a triggering event, there will be a problem to address.
1. Who can be an owner of the departing owner’s shares? 2. What is the value of the departing owner’s share? 3. What are the buy-out terms? Often the buy-sell agreement is part of an entity’s main operational agreement (i.e., if it is a partnership, the partnership agreement, or if it is a corporation, the shareholder agreement). Having a buy-sell agreement is key, but does it reflect your current situation? Has it grown along with your operation?
Make sure your important planning documents grow with you and reflect your current needs and goals. AgCountry’s Succession and Retirement Planning Department is available to work with you on your planning needs. Talk with your AgCountry loan officer or local branch for more information.
Let’s go back to the farming couple example. At the same time they created their wills 25 years ago, they also entered into a partnership with their spouse’s two farming siblings. They worked with their professionals and created a buy-sell agreement as part of the entity formation tasks. They agreed in this document that if a partner dies, the surviving spouse of the deceased partner shall sell the share, and the other owner of the partnership shall purchase the deceased owner’s share. The value of the shares is determined by appraisal, and the terms of the buy-out are paid in equal installments over 10 years, with interest at the applicable federal rate. Twenty-five years ago, this plan worked for the unit, but since then, they have grown considerably. They’ve grown their asset base along with each of the owners having farming children who have joined the operation as employees, not owners. They have a goal to transition the next generation into the operation.
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UPCOMING FARM SHOWS
AgCountry Farm Credit Services / GROW / June 2022
FARM TECHNOLOGY DAYS JUL 12-14, 2022 Loyal, WI
We’re pleased to have Wisconsin’s largest farm show back in our territory! Farm Technology Days is being hosted by Roehl Acres Farm & Rustic Occasions near Loyal, Wisconsin. Attendees will be treated with the latest improvements and innovations in production agriculture. This family-friendly event has something for everyone, including a family living tent, a youth tent, innovation square, heritage tractor and machinery display, displays for home, yard, and garden, daily entertainment, and a wonderful selection of farmto-table menu options to snack on. Additionally, a concert featuring Joe Nichols and Sawyer Brown will take place near Farm Tech Days on Wednesday, July 13.
FARMFEST AUG 2-4, 2022 Morgan, MN
Be sure to network, learn, and grow by joining AgCountry at Farmfest on the grounds of the Gilfillan Estate near Redwood Falls. Spanning 50 acres, you’ll find products, services, and technology from over 400 exhibitors and vendors. Minnesota’s premier farm show is planned every year with one goal in mind: to help you grow your family business. Through educational opportunities, networking with top agribusinesses, and experiencing live demonstrations, Farmfest can give you the tools to make your operation excel. This year’s show will feature political debates, live broadcasts, a presentation of the Woman Farmer of the Year and Farm Family of the Year awards, plus a hay bale art competition that benefits FFA and 4-H groups! If you go, be sure to stop by the AgCountry tent located in the middle of the grounds next to The Wick (main forum) building!
If you go, please be sure to stop by the AgCountry tent! We will be located at booth 522.
BIG IRON
SEP 13-15, 2022 West Fargo, ND The upper Midwest’s largest farm show is back at the Red River Valley Fairgrounds in West Fargo, North Dakota. Come visit the AgCountry team and take in over 900 exhibit booths, training sessions, demonstrations, and plenty of opportunities to connect with fellow farmers and ranchers. This three-day show is a celebration of all things rural living—agribusiness, health, innovation, and technology. Look for more details to come soon as AgCountry will once again participate in the Red River Farm Network’s seminars throughout the show. If you go, please visit AgCountry in the Foltz Building on the north side of the fairgrounds.
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AgCountry Farm Credit Services / GROW / June 2022
GETTING STARTED:
AgCountry’s YBF Program Written by: Scott Anderson VP Loan Officer
Spring is a time when we embrace and celebrate new life. It is a time to enjoy watching newborn lambs and calves running and jumping, and new crops emerging from the ground. It is time to cultivate new growth. Growth has many meanings in a farming operation. It ranges from new land being farmed, a new equipment purchase, new facility construction, or a new generation entering the operation. Whatever form of growth your farm is experiencing or pursuing, AgCountry is here to help. AgCountry is focused and dedicated to assisting in getting the next generation of farmers started. Our young beginning farmer (YBF) program offers many benefits to those customers that fall into this category. Benefits range from scholarships to attending various training/ educational seminars, reduced tax planning and record fees, succession and retirement consultation, and more. We understand the importance of getting the next generation started. We seek to build long-term relationships by assisting with the success of the business.
I have been a loan officer in the Farm Credit System for nearly two decades. During my tenure, I have thoroughly enjoyed getting the next generation transitioned into a farming operation. Watching a young beginning farmer start with minimal business acumen grow into the role of a manager is a remarkable experience. I enjoy my role as a trusted resource, identifying solutions to help customers succeed. On the financing side, AgCountry offers reduced young beginning farmer rates when applicable, as well as flexible underwriting standards and loan terms. We partner with the Farm Service Agency on direct and participation loan financing options as well as FSA Guarantees when appropriate. As part of the young beginning farmer program, AgCountry is also willing to pay for a portion of the FSA Guarantee fee. Financing utilizing state programs such as the Minnesota Rural Financing Authority (RFA) and the Bank of North Dakota are also options that are explored when discussing loan packages for this sector of borrowers. I have set up multiple loan packages utilizing FSA financing combined with Minnesota RFA participation financing. These programs offer reduced rates for young beginning farmers for the purchase of land and facilities that they would otherwise not be able to afford to utilize conventional financing. This partnership benefits all parties involved and is at the core of fulfilling our mission of serving agriculture and rural America. Talk with your local AgCountry loan officer to see what options are available for your operation. We are dedicated to the success of your operation and will work with you to meet your financing and financial services needs. It is our goal to help your business GROW and work with the young beginning farmer sector for continued success today and into the future.
YBF Meeting, July 2021
A Member-Owned Cooperative
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Welcome to LifeWorks Feel supported and connected with a confidential Client Assistance Program and innovative well-being resource
Life can be complicated. Get help with all of life’s questions, issues and concerns with LifeWorks. Any time, 24/7, 365 days a year. LifeWorks offers support with mental, financial, physical and emotional well-being. Whether you have questions about handling stress at work and home, parenting and childcare, managing money, or health issues, you can turn to LifeWorks for a confidential service that you can trust.
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AgCountry Farm Credit Services / GROW / June 2022
AgCountry Online Services
We Serve Agriculture: Whenever. Wherever.
Please note that if you are a previous Farm Credit Services of North Dakota customer, you will be eligible for these services on July 5, 2022. We look forward to working with you!
✓ 1
Your Online Services Checklist Go to AgCountry.com>Products & Services>Online Services • • • • •
Review the features and benefıts of Online Access Learn More with Customer Quick Guides** Request Online Access to My AgCountry & AgPay Submit the online form; include your customer number AgCountry will contact you to verify your request
First Time Sign In
2 3 4
• • • •
Receive an email, within 48 hours Follow link in email to create Online ID and Password Select Security Question/Answer Respond with PIN code sent to phone
Enjoy the mobile AgPay App
• Establish your initial login through a browser before using the app • Search your app store for AgCountry and download the app • Use same secure login for all AgPay features
Use Remote Check Capture with the AgPay App
• Submit checks you receive to short term or FCM Stand Alone accounts • Effective same business day if submitted by 3:00 pm CT • Cumulative limits over 25 business days: • $2.0 million • 75 checks
5
Inquire about Disbursement Card or Agribusiness Customer Check Scanners
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Questions? Contact our Online Services Team • OnlineServices@AgCountry.com • Phone: 855-402-7849
My AgCountry
at a Glance
• Account Summary - Payments due and account information • My Documents - Electronic availability to your AgCountry documents • Secure Messaging - Exchange documents and fıles with your AgCountry contacts • Gateway to AgPay
**Customer Quick Guides: • Customize Your View • Transfers - Funds Transfer & Loan Payments • Remote Check Capture • Services - Add External Accounts • Request Online Access & First Time Sign In
AgCountry.com
at a Glance • Home - Account Info, Transactions and Images • Transfers - Funds Transfers and Loan Payments • Effective same business day if submitted by 3:30 pm CT • Will process at external bank next business day • Statements - Billing, Monthly and Annual Transaction Summaries • Services - Add an External Bank Account • Settings • Customize Account Display • Create Alerts and Reminders • Opt in to eStatements
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AgCountry Farm Credit Services / GROW / June 2022
2022 HIGH SCHOOL SCHOLARSHIP RECIPIENTS Congratulations to the 2022 High School Scholarship Winners. 42 high school seniors were chosen to receive a $1,000 AgCountry scholarship, 36 of them from AgCountry and six of them from Farm Credit Services of North Dakota’s legacy scholarship program. The scholarship will be awarded upon proof of enrollment in college in the fall of 2022. Congratulations letters were mailed to the recipients on April 15, 2022. Here is a complete list of the 2022 winners.
Aaron Dukelow
Alexis Bopp
Amber Findlay
Anabelle Wertish
Annaka Hook
Annika Waltenberg
Ashlyn Williams
Ben Scheresky
Brynn Lozinski
Chloe McLean
Clayton Blasel
Cora Huhn
Devani Hinkelmann
Emma Bangart
Emma Kratcha
Evan Jirava
Jack Paulsrud
Jack Steffan
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Jazlynn Hilbrands
Jazlynn Folland
Jens Draeger-Jorgenson
Jerson Kopka
Jonah Zikmund
Josie Otto
Karson Matejcek
Katelyn Duchscher
Katrina Quick
Kelsey Jascor
Keyahna Musland
Kiley Kvamme
Lauren Skadberg
Leila Pust
Margo Mumm
Maxwell Marks
Melissa Wellendorf
Mesa Rasmussen
Micah Kayhart
Mitchell Kleeberger
Rebecca Bohrer
Shayden Schiele
Sierra Heinz
Wesley Siira
C O N G R AT S
CLASS OF 2022! Serving Agriculture and Rural America
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AgCountry Farm Credit Services / GROW / June 2022
GIVING SU M MARY AgCountry’s mission is to serve agriculture and rural America. A way in which we fulfill our mission is by giving back and supporting organizations, causes, and communities. Altogether, AgCountry donated more than $1.4 million throughout Minnesota, North Dakota, and Wisconsin. Here is a snapshot of causes we supported in 2021:
The Next Generation We believe in the importance of supporting the next generation of ag leaders. A few programs we focus on include organizations such as 4-H, FFA, Ag in the Classroom, and student NAMA. Whether it is local chapters or state organizations, an investment now will pay great dividends in the future.
The Millenial Farmer, with AgCountry employee Kelly McDonald, speaking at a YBF breakfast that AgCountry hosted in February.
Scholarships Our scholarship opportunities are designed to support students and young farmers and ranchers at different levels. First, we provide 42 scholarships to graduating high school seniors who are from farming families or who will pursue a career in agriculture. For those already in college, we award 10 scholarships to students who have completed 69 credits and are working towards a career in an ag-related industry. Additionally, scholarships are also given to students in the Fellows program at North Dakota State University, and for Young Beginning Farmers (YBF) for ag education training.
Agriculture Universities And Colleges Colleges and universities play a critical role in the development of students. We believe that funding projects that provide students access to technology and facilities will allow them to gain real-world experience.
YBF
Wyatt Lebal, AgCountry employee (right), presenting his Giving and Growing check to fire department member, Nick Quinnell, at the firehouse in Kennan, WI.
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AgCountry takes pride in helping establish the next generation of farmers and ranchers. Our work with young or beginning farmers includes special financial programs and exceptions, along with scholarships to participate in farm business management classes and other educational opportunities.
$76 Million Paid Out in Patronage in 2021
AgCountry Farm Credit Services / GROW / June 2022
Grain Bin Rescue Farming and ranching can be dangerous. Grain bins often present some of the most dangerous conditions. Five years ago, we launched our Grain Bin Rescue Program. Through the program, AgCountry donates grain bin rescue units to area fire departments in an effort to help support rural communities and promote farm safety. The units are designed to be used specifically for grain bin entrapments. Since 2017, we have awarded 116 rescue units to area fire departments.
Commodities and Agriculture Groups There are a lot of organizations doing great work on behalf of our industry. To show our support for their work, we both participate in and sponsor group activities. We actively work with groups like Farm Bureau, Farmers Union, Farm Rescue, AgriWomen, Common Ground, AgriGrowth Council, and Extension programs. Together, we are building a stronger industry for all of agriculture.
Grain bin rescue training with equipment provided by AgCountry.
Community Support and Volunteer Efforts Community involvement is an important way for us to further our mission of supporting the areas where we live and work. AgCountry donates to a wide range of local causes. Several offices contribute to United Way chapters via payroll deduction, which qualifies for a company match. Additionally, our volunteer program allows employees to take paid time off each year to help a cause that is important to them.
Giving and Growing
Mary Dusek (middle right) and Diane Hoffman (far right) maximized their Giving & Growing by choosing Lutheran Sunset Home for Giving Hearts day.
AgCountry actively works to empower our employees to make a difference. One way in which we do that is through our Giving and Growing program. This program allows each AgCountry employee to contribute $600 to a cause of their choosing. In 2021, a total of over $271,000 was given out to a wide array of recipients ranging from families in need to organizations helping to make a difference in the communities we serve.
Fighting Hunger Although our local communities may be surrounded by agriculture and food production, we know that there are people struggling against hunger. We believe it is only appropriate that we assist groups and organizations that are feeding those in need. AgCountry makes annual donations to hunger-related organizations across our 82county marketplace. AgCountry employee Adam Aarestad (left) presents 4 Luv of Dog Rescue with his Giving and Growing Donation.
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AgCountry Farm Credit Services P.O. Box 6020 Fargo, ND 58108
Give us your
BEST SHOT!
Do you have a photo that captures the essence of agriculture or rural life? Be sure to enter it into AgCountry’s photo contest for a chance to win a cash prize and be featured in our 2023 calendar! Photos will be accepted until September 1, 2022. Each participant is allowed to submit up to five photos.
Photos can be submitted by visiting:
agcountryphotos.com First Place: $500 Second Place: $350 Third Place: $200
2021 photo contest winner. Submitted by Sharon Watson, Buxton, ND