DECEMBER 2019
Message from the President BRIAN RICKER
If you’re anything like me, putting 2019 into the history books and moving on to new opportunities will be a welcomed event. Though this year has certainly been challenging, I’ve been encouraged to hear many “silver lining” stories emerge from the struggles of 2019. Too often we tend to dwell on the negative and fail to recognize the subtle gifts and positive aspects presented during a trying situation.
Positive stories include those of families spending more time together. Neighbors talking more, sharing strategies and helping out one another. Families spending more time in prayer during difficult times. The common theme of these stories center around faith, family and service. Another positive derived from the challenges in 2019 was a greater overall awareness of the issues of mental health on the farm. Ohio’s #gotyourback Campaign, sponsored by the Ohio Department of Agriculture and supported by many agricultural organizations including AgCredit, was created to let farmers know they’re not alone in their struggles and to offer resources for seeking professional, confidential help when stresses on the farm become overwhelming. Though farming traditionally ranks within the top 10 of the most stressful occupations in the nation, the anxieties experienced during the 2019 growing season were extremely intense for many involved in production agriculture. There were numerous difficult decisions to make, deadlines to meet and so much information to comprehend with many unknowns about the ramifications and outcomes. Although we can’t always control the stresses we face, we have the power to manage how we respond in the face of adversity. Stressful events are more likely to be positively resolved if we have a clear and realistic view of the problem, a strong support system, a history of managing successfully, a hardy disposition, an accurate understanding of our strengths
and limitations, sound action plans and a proactive approach to facing potential hardship. Included within the pages of this magazine is valuable information to help cope with stress and other mental health challenges. I encourage you to review these resources and share them with your friends and family. I believe when we openly talk about these issues, we’re building awareness and possibly helping someone through a difficult period. If you’re experiencing financial difficulty because of the recent weather, I encourage you to contact your account officer as soon as possible. Your account officer will work with you to determine the best options for your individual operation. In the event loans need to be extended, restructured or the principal deferred, we’re fortunate because interest rates have been declining since December 2018. We know AgCredit’s loan growth will most likely be flat for the year due in part to the challenging spring weather and lower utilization of operating loans. We will most likely experience some decline in credit quality, and a higher number of loans will need some additional servicing. Though 2019 is not in the books yet, we’re optimistic that AgCredit will experience favorable financial results. Perhaps this is another silver lining as we approach the end of this challenging year. One of the unique benefits of being a member of AgCredit is sharing in the association profits through the return of patronage. A positive with slower loan growth would be a need to retain less of the association’s net income to support growth, and a higher percentage of association net income can be available for patronage. We’re looking forward to sharing details about our association patronage and financial results in early 2020. We’ve been fortunate to return on average 28.3% of accrued interest in cash over the past five years. Until then, please accept our heartfelt wishes for you and your loved ones to have a merry Christmas and prosperous New Year!