Farm Credit East offices, including online banking and payroll processing, will be closed on the following dates:
• Monday, May 26
• Thursday, June 19
• Friday, July 4
We value your feedback! As we continue to evolve to better serve you, your input will help us shape our communications, improve your experience, and ensure we’re addressing the things that matter most to you. Please take a few minutes to share your thoughts by completing this short survey. Your voice makes a difference!
Share your feedback: FarmCreditEast.com/feedback
Salute to Retiring Directors
In 2025, two directors are retiring from board service.
Michael N. Brooks, of Elmer, N.J., was first elected to the board in 2014. In partnership with his parents, he owns Dusty Lane Farms, LLC, a diverse, 2,000-acre irrigated operation producing white potatoes, peppers, spinach, cabbage, sweet corn, corn, wheat and soybeans. The farm also includes 27,000 square feet of heated greenhouse space for vegetable transplants.
Lisa P. Sellew, of Lebanon, Conn., was first elected to the board in 2013. Lisa and her family own Prides Corner Farms, a wholesale nursery growing more than 2,200 varieties of nursery stock, perennials, roses, trees, herbs and vegetables that has been in business for more than 30 years.
To both Michael and Lisa, thank you for your years of service to the cooperative. Your leadership has helped to position the cooperative for the future and your lasting impact will be enjoyed by Farm Credit members for generations to come.
Calling All Talented Photographers!
Submit your photos for a chance to win $100.
We look forward to the many creative images representing Northeast agriculture and country life we receive from customers, employees and friends each year. Get outside to capture images representing modern agriculture, commercial fishing and forest products during all the seasons. Upload your creative shots for a chance to be featured in our 2026 calendar!
Ready! Aim! Shoot!
Upload photos at FarmCreditEast.com/Calendar Deadline: July 31, 2025
Mike Reynolds CEO, Farm Credit East
PAVING OUR PATH FORWARD
It was a pleasure to connect with many of you at the regional business meetings we held across our territory in early March. Those meetings served as an important touchpoint in our cooperative model, providing us the opportunity to update our customer-owners on the state of the cooperative and our vision for the future, as well as capture your valuable feedback. Thank you to all who attended. For those who weren’t able to attend, I’ll provide a brief recap.
The headline: your cooperative is strong. In 2024, we achieved strong financial results, enabling us to distribute $140 million in patronage dividends. This record distribution is a reflection of the trust you place in us and the strength of our cooperative model. These dividends, along with our ability to reinvest in the business, ensure that we remain a reliable partner for your operations today and for generations to come.
As we prepare your cooperative for the future, we’re all navigating a significant amount of change. Whether it’s evolving market dynamics, technological advances or shifting regulations, change has become a constant. But know that every decision we make is guided by how it will benefit you, our customer-owners.
While modernization is both exciting and, in many ways, necessary, change and transformation often come with growing pains. We know introducing new tools can be challenging. We also recognize some changes may mean we can’t keep everything exactly as it’s always been. However, this evolution will enable us to continue delivering the competitive interest rates and patronage dividends that are core to our mission and your business.
We also recognize there’s room to improve, and as a cooperative, we’re on this journey together. If you have feedback to share, I encourage you to scan the QR code on the inside front cover of this issue or reach out to your local Farm Credit East contact to let us know.
As we look ahead, I’m also reminded there’s stability in the values that have anchored Farm Credit East for more than a century: our commitment to relationships, our cooperative spirit, and our shared passion for growing Northeast agriculture and rural communities. No matter the evolution of the cooperative, I can’t emphasize enough that these values remain unchanged, and each decision is made with the customer in mind.
“But know that every decision we make is guided by how it will benefit you, our customer-owners.”
We know that our true strength lies in the relationships we’ve built with you. As we move forward, our goal is to ensure that every interaction feels personal, while allowing you to leverage the expertise of our broader team. As agricultural businesses and tax regulations become more complex, this specialization is an extreme value for our customers.
We are also reassessing our credit delivery to get money to you faster and expanding our benchmarking programs to provide real-time information. By streamlining processes and offering faster decisions, we can spend more time doing what we do best — understanding your needs, finding the right solutions and delivering a best-in-class experience.
Later in this issue, you’ll meet the eight candidates seeking election for four seats on our board of directors. Our annual director elections are core to our cooperative model as directors, who are customer-owners just like you, serve as the voice in membership. I hope you’ll all take the time to learn about this year’s talented candidates and cast your vote in April.
In closing, thank you for being part of Farm Credit East. Your continued partnership is essential as we navigate the road ahead with one goal in mind: to make it easier for you to do business with us.
cover story
PROACTIVE STRATEGIES BUSINESS
If the past several years have taught us anything, it’s that we need to be agile. While we can’t plan for the unexpected — and the unexpected will come — we can be informed and proactive. Planning ahead using available insights can help you strategically accomplish your business goals. So, what can you do today to set yourself up for success?
We recently sat down with subject matter experts from various job roles within Farm Credit East to see what advice they could give to agricultural, commercial fishing and forestry producers for their businesses now and in the future. The conversation covered a range of topics, all of which had one goal in mind: your business success.
START WITH GOOD RECORDS
To strategize optimally, you need an understanding of where you’ve been and where you’re going, and that starts with strong records. This was the resounding piece of advice we heard from every subject matter expert. If you do nothing else in the year ahead, get your books in order. So, what does this entail?
Know your input costs
The start of any good business plan comes with an understanding of your input costs and expenses. Input costs have a direct correlation on crop insurance policies and financing considerations, and they can indirectly affect your tax planning as well.
STRATEGIES FOR
SUCCESS
A balance sheet helps provide an understanding of assets and liabilities, both for your own planning as well as to give your vendors insight into your business. “Putting a balance sheet together on an annual basis helps the lender see the full financial picture of your business,” said senior loan officer and portfolio manager, Paul Webster.
Understand your cash flow
While spending time calculating input costs, you should also consider developing a monthly cash flow budget for the year. Most agricultural, commercial fishing and forestry businesses are seasonal. As a result, you may be in the red some months, and in the black, others — this makes financial planning that much more important.
“The cash flow budget helps you map out how your cash might flow from month-to-month so you can plan accordingly. For example, what month(s) might you have to draw on the line of credit? Are there any months with a surplus?” probed Heather Weeks, business consultant.
STICK TO YOUR BUDGET
Now that you’ve established a balance sheet and a cash flow plan, it’s time to talk to your loan officer or business consultant about creating a capital expenditure plan.
“If we haven’t updated a capital expenditure plan in a few years, it may be time to think intentionally about what needs to be purchased or replaced this year, next year or into the future; and what time of year might be best to make those purchases,” Heather continued.
“When you make your capital expenditure plans, stick to them.”
Paul, added, “When you make your capital expenditure plans, try to stick to them. Just because you have some extra in the checking account right now, doesn’t mean you can simply veer off your budget.”
Creating working capital for your operation is key. Having a little bit extra for a rainy day can provide flexibility, lowered stress and a small sense of peace.
SHORT-TERM DEBT, LONG-TERM REWARD
Leveraging debt through a loan or lease might seem scary, especially for someone who is used to buying things outright. But short-term debt can help you reach your goals without strapping your budget too tight.
Paul said one of the mistakes some business owners make is not using financing, or financing on too short a term. “Customers try to pay it off fast on a very short term, because they don’t want to spend interest,” said Paul. “But sometimes, that backs them into a corner because they lose the flexibility of working capital.”
The bottom line — don’t be afraid of using debt on the appropriate term to finance assets.
TAX PLANNING EARLY AND OFTEN
In the past few years, tax planning has become increasingly important when it comes to managing tax liabilities and optimizing tax credits. Several states in the Northeast, namely New York, have unprecedented tax incentive programs for businesses.
Director of financial services training, Joe Baldwin, explained, “The large state credits add complexity when tax planning for your federal taxable income. When you combine this with the state versus federal discrepancies
PREPARING YOUR BUSINESS FOR THE LONG TERM
If retirement is on the horizon, the sooner you can start thinking about succession planning, the better. Whether your plan is to transition your business to the next generation or a non-family successor, you should be speaking to a consultant or advisor on how to make it a smooth transition.
Ideally, you’ll want to begin planning 5-10 years before retirement. This gives you plenty of time to transfer assets and gives your successor(s) time to learn valuable management skills, either on their own, or through programs like GenerationNext from Farm Credit East.
When beginning the transfer process, there are a number of legal and tax considerations that need managed to ensure the interests of both generations are protected. This includes estate tax considerations. At the state level, each state has its own threshold, which you can discuss with your business or tax consultant.
As of the writing of this article, the federal estate tax threshold of $13.99 million per individual is set to sunset at the end of 2025. If it does, the threshold will drop to half, or $7 million per individual. Anything above these thresholds will be taxed more heavily. With a new administration, however, it is possible this will change. That being said, if you’re looking to make equity transfers, start now. If the threshold does decrease, you’ll want legal documents finalized by the beginning of 2026.
for depreciation, you could run into a scenario where your federal taxable income is quite different than your state taxable income. If you’re not careful, you could be phased out of certain state tax credits because of a high state adjusted gross income (AGI), even if you have tax planned down to a low federal AGI. For this reason, tax planning should be done early and often, and make sure your tax advisor is running both federal and state scenarios.”
It’s also important to understand how to optimize tax credits. For example, the New York Investment Tax Credit not only has strict requirements as to what type of asset qualifies, but also what type of income can qualify. If you’re planning an expansion or capital-intensive project, make sure your tax advisor is involved and the assets are accounted for in a manner that will optimize the credits.
“Another thing folks can do today is review their beneficiary designations on policies like life insurance, brokerage accounts or retirement accounts,” said Heather. “It doesn’t get [the money] out of their estate, but it does bypass the probate process.”
Speak to your consultant about what is best for the future of your business. Attorneys or consultants may suggest a restructuring of your business, setting up a trust, or getting your last will and testament in order, just in case. However, all these changes can have tax implications.
“Keep your tax advisor in the loop,” Paul advised. “Don’t make changes to your business, like creating a new entity, without getting advice from a tax consultant.”
PROTECTING YOUR INVESTMENT WITH CROP INSURANCE
Ag businesses that are eligible for crop or livestock insurance should also consider the value risk management tools can provide.
When evaluating your crop insurance options, the most important consideration is to look at your annual input costs and insure your crop for its value at planting.
“If it costs you $700 per acre to put a crop in the ground, then you ought to have it covered for at least $700 per acre,” said Crop Growers product and training specialist, John Fitzpatrick. He added, “you may lose the ability to have a profit on that acre, but at least you won’t lose your entire investment.”
Keeping good production records helps substantially, especially if you have separate farms or tracts of land in different counties. Your crop insurance agent will find it helpful in planning for your insurance needs. The USDA Risk Management Agency looks at production data as well.
There’s more than one way to insure your crops, too. Farm Credit East’s team of crop insurance specialists at Crop Growers provides value by being knowledgeable about a variety of policies for all different crop types and disaster events that may yield a premium.
John encouraged producers to look into the Supplemental Coverage Option (SCO) and Enhanced Coverage Option (ECO), which provide additional bands of coverage on top of an individual crop insurance policy. Both plans use area yields and revenue to determine loss, regardless of your farm’s actual production.
If you’re a dairy producer, be sure to talk to your livestock insurance agent about Dairy Revenue Protection (DRP), Livestock Risk Protection (LRP) or Livestock Gross Margin (LGM) coverage.
From Today’s Harvest blog:
Two Powerful Safety Nets for Dairy Producers — Are You Covered?
LEVERAGE YOUR FARM CREDIT EAST TEAM
Keep your Farm Credit East team informed about significant business changes. They’ve worked with customers through varying scenarios and can offer valuable advice or strategies to help you achieve your goals. Even the most meticulous planners can’t foresee everything, like weather events or personal losses, but our team has the expertise to guide you through these challenges and support you in managing your business through all circumstances.
ENHANCING YOUR DATA SECURITY IN 2025: ESSENTIAL TIPS
In today’s digital age, protecting your personal information is more important than ever. With cyber threats evolving rapidly, it’s crucial to stay informed and take proactive measures to safeguard your data. Here are five essential tips to help you enhance your data security in 2025:
1. Regularly review account activity
2. Avoid public wi-fi for sensitive transactions
3. Monitor your credit report
4. Use privacy settings on social media
5. Use multi-factor authentication where possible
Scan the QR code for more information on each of these tips!
Farm Credit East stays informed about industry trends and the economy and aims to bring those insights to customers through our Knowledge Exchange division — it’s just another value of doing business with us. We share this information with our team as well as customers via our monthly Knowledge Exchange Partner e-newsletter, the weekly Today’s Harvest blog, and various webinars and reports.
As part of Farm Credit East Knowledge Exchange’s Insights & Perspectives series, Farm Credit East consulted industry experts for their predictions for the upcoming year. Each industry expert authored an outlook report and presented a webinar to dive deeper into the topics discussed in the outlook report and answer attendee questions. To read the industry outlook, register for an upcoming webinar, or view recordings of past webinars, please visit the URLs provided with each industry insight, or scan the QR codes using your smart device.
FIELD CROPS
CoBank lead economists, Tanner Ehmke and Jacqui Fatka, explore the latest insights on U.S. grain and biofuel markets. Learn how ethanol production and renewable diesel demand are driving the market, despite challenges from trade policies and global competition.
Read the full article: FarmCreditEast.com/CashGrain
DAIRY
Christopher Wolf of Cornell University provides an outlook on what 2025 may bring us in global dairy markets with policy updates, factors influencing production and trade and a price outlook for the year ahead.
Read the full article: FarmCreditEast.com/Dairy
MAPLE
Mark Cannella, extension associate professor from the University of Vermont, highlights the current issues and strategic planning that maple industry working groups are currently engaged in. Learn how the industry is approaching climate change, market development, improving statistics and other policy items that will impact the maple industry.
Read the full article: FarmCreditEast.com/Maple
POTATO
Learn what’s ahead for the potato industry in 2025, including industry sector updates and key factors to watch for potato production in the year ahead.
Read the full article: FarmCreditEast.com/Vegetable
FOREST PRODUCTS
Paul Jannke of Forest Economic Advisors shares his insights on the 2025 forest products industry. Learn how the housing market and potential tariffs will impact lumber demand and prices moving forward.
Read the full article: FarmCreditEast.com/Forestry
GREEN INDUSTRY
Texas A&M’s Dr. Charlie Hall reviews the fiscal and monetary policies that are likely to be advanced over the next few years. Following the soft-landing approach of the Federal Reserve, we can expect green industry firms to respond strategically, but what does this mean and what will be the effect on firm-level profitability?
APPLE
Read the full article: FarmCreditEast.com/Green
Chris Gerlach of U.S. Apple Association discusses the future of the apple industry. Increasing production and decreasing exports have caused prices to fall at a time when input costs are skyrocketing. Take a deep dive into the prevailing trends and forces shaping the U.S. apple industry now and for years to come.
Read the full article: FarmCreditEast.com/Fruit
YOUR SHARE IN OWNERSHIP
Farm Credit East is a financial cooperative , owned by the customers we serve and governed by a customer-elected board of directors. Our customer-owners share in the financial cooperative’s success through patronage dividends. This cooperative model enables Farm Credit East to offer competitive interest rates up front, and then through continued success, return a share of net earnings to our owners via patronage dividends.
What you should know about patronage dividends:
◆ For the full year 2024, customer-owners received a total of $140 million in patronage dividends. This refund represents $131.6 million of customary patronage levels paid each year, along with a special one-time $8.4 million patronage dividend due to 2024’s outstanding financial results.
◆ Patronage payments are paid entirely in cash. Payments are taxable, so we encourage recipients to consult with their tax advisors about their specific situations.
Is a patronage payment guaranteed each year?
The Farm Credit East Board evaluates a variety of business factors, including earnings, growth and economic conditions, to determine if it is appropriate to pay patronage dividends in a given year. In evaluating these factors, the board makes a business determination as to whether Farm Credit East earnings should be returned to customer-owners in the form of patronage dividends or retained on our balance sheet to help us continue serving agriculture, commercial fishing and forest products industries through cycles.
How does patronage impact your interest rate?
On average over the past three years, eligible customers have received 22% of the interest earned during the year. The level of the patronage payment is based on the interest earned from your loan during the year.
The chart below compares a rate from another bank to the Farm Credit East rate with the patronage dividend.
$
$
20 CANDIDATES FOR THE BOARD OF DIRECTORS
On behalf of the nominating committee, Farm Credit East is pleased to present the 2025 candidates for the association’s board of directors. There are four open director seats to be filled in 2025, and eight qualified candidates seeking election to these seats.
• One 3-year seat from the Eastern Region
• One 4-year seat from the Eastern Region
• One 4-year seat from the Central Region
• One 4-year seat from the Western Region
Following the 2025 election, the Farm Credit East Board will consist of 15 directors: 13 elected directors, one appointed customer director and one appointed outside director.
THE BOARD
The Farm Credit East Board sets a clear direction for the cooperative on behalf of all customer-owners. The board works closely with CEO Mike Reynolds to set policy, establish long-term business plans, evaluate business results and provide feedback to the management team. It does not make day-to-day management decisions, including actions on individual loans or matters relating to employees.
THE NOMINATING COMMITTEE
The nominating committee is composed of 26 Farm Credit East members and 25 alternates. The association membership elects the nominating committee at the annual stockholders meeting. This committee works hard to identify qualified candidates to ensure that the association attracts a skilled and diverse board. In addition, the committee makes every effort to recommend two qualified candidates for each open seat.
ELECTION PROCESS
You’ll find the information you need to make an informed voting choice for the 2025 Farm Credit East Board of Directors, including:
• An annual meeting information statement, which voting members received either electronically or in the mail
• This article’s profile of each candidate
• Information on our website at FarmCreditEast.com/DirectorElections
Ballots are mailed to voting members after the annual meeting on March 24, 2025.
EVERY VOTE COUNTS!
This is your opportunity to express your voice in ownership and direction of the cooperative. By voting, you convey your continued commitment to Farm Credit East and thanks to fellow members who are seeking election to the board.
The following overview information is provided by each candidate.
2025 DIRECTOR CANDIDATES
NOMINATED FROM The Eastern Region
Auburn, Bedford, Dayville, Derby, Enfield, Middleboro, Middlebury, Potsdam, Presque Isle, Riverhead, St. Albans and White River Junction offices.
Seat One Two candidates are running for a three-year term.
Barry Allan Buck of Mapleton, ME
Business: Buck Land Company, LLC
198 Grendell Road, Mapleton, ME 04757
Business Experience: Partner of Buck Land Company, LLC, which owns 1,000 acres of farmland and wood lots. Barry oversees land rentals and timber harvest. He continues to sell potatoes and grain in a market he’s helped develop and buys and re-sells farm equipment throughout the Northeast. Previously, Barry served as marketing manager for his father-in-law’s family farm.
Leadership/Community experience: Barry has served on Farm Credit East’s Nominating Committee, Customer Service Council and Board of Directors. For over 20 years, he has served as a selectman on his town board. Additionally, he has served as the president of the Central Aroostook Young Farmers Association.
Why Farm Credit is critical to my business: Farm Credit East is our financial partner. Without Farm Credit East, it would have been very difficult to grow our business. Their continued support has created the desire for me to continue to serve as a director. I want to ensure all customers can receive the same service that I have experienced for many years.
Why I am seeking election to the board: Having served on the board of directors, my knowledge of all the cooperative can and does for producers has grown tremendously. As our world changes, so do the needs of our customers, and Farm Credit East must adapt accordingly. I would like to be a part of leadership as we move forward and make enhancements to our association to ensure our customers can operate more efficiently.
James V. Crane of Exeter, ME
Business: Crane Bros. Inc. 2 Mills Road, Exeter, ME 04435
Business Experience: Co-owner and manager of Crane Bros. Inc., growing 1,900 acres of chipping potatoes throughout six Maine counties for Frito Lay Inc. Jim is an active partner and co-manages farm operations.
Leadership/Community experience: Jim has served on the Farm Credit East Nominating Committee and is currently a member of the Auburn Customer Service Council. He has served as town selectman for 24 years and assisted on the town budget committee. Additionally, he served as vice president of Maine Farm Bureau and on the board of the former Farm Family Ins Co.
Why Farm Credit is critical to my business: The flexibility and ease of obtaining operating capital has been a big factor in our ability to expand the operation over the decades. I would like to give back to the financial institution that has been pivotal for our success and help to make Farm Credit East stronger.
Why I am seeking election to the board: Our multi-generational family management and an excellent, well-trained workforce allows me to know the operation will run smoothly to attend board meetings. At this point in my role as owner at Crane Bros., I feel I can contribute to the excellent results of Farm Credit East, while sharing my expertise of the potato industry.
NOMINATED FROM The Eastern Region
Auburn, Bedford, Dayville, Derby, Enfield, Middleboro, Middlebury, Potsdam, Presque Isle, Riverhead, St. Albans and White River Junction offices.
Seat Two Two candidates are running for a four-year term.
LouAnne King of Waddington, NY
Business: Mapleview Dairy LLC
307 Jones Road, Madrid, NY 13660
Business Experience: Owner of Mapleview Dairy LLC, a family owned and operated farm which provides forages and grains from 5,600 acres, to feed the dairy herds of Mapleview Cattle Company LLC and Forest View Heifers LLC. LouAnne is responsible for financial management, HR oversight and office operations for the multiple businesses.
Leadership/Community experience: LouAnne is vice chair on the Farm Credit East Board. She has served on the board’s Audit Committee, Governance/Stewardship Committee and as chair of the Business Risk Committee. She has attended the National Board Leadership conference and completed the Premier Governance Series of board training. LouAnne is chair of the St. Lawrence County Workforce Development Board and serves on her Church Session and the National Holstein Legislative and Regulatory Affairs Committee.
Why Farm Credit is critical to my business: Farm Credit has been a partner and trusted resource since our grandfather’s first Federal Land Bank mortgage in 1947. Our business utilizes the expertise of the financial services team, industry benchmarking and forecasts, and affordable credit. The staff expertise and understanding of our business is so important in assisting us to reach our goals.
Why I am seeking reelection to the board: I believe providing Northeast farmers with credit, industry updates and financial services is crucial to future generations. Having experienced the benefits of the cooperative and the people in the industry, I will work with others to ensure the continued improvement of this strong System both locally and nationally.
Business Experience: Operations Manager at The Cushman Farms Limited Partnership, a dairy farm with 1,800 cows and 2,300 acres of land. James oversees finance and the upper management team.
Leadership/Community experience: James has served on the Dayville Customer Service Council and on the nominating committee. He has served on his local Economic Development Committee for 15 years, including 10 years as chair. James was involved in Very Alive, an organization educating legislators on the importance of Connecticut Agriculture. He’s been involved with the Working Lands Alliance and served three terms for the Farm Service Agency of New London County. Recently, James was appointed to the UConn Advisory Board of the College of Agriculture, Health and Natural Resources.
Why Farm Credit is critical to my business: The partnership we have with Farm Credit East has allowed us to meet our goals as a business. The support we have received over the years has been beyond financial support. We have also used business planning, analysis, budgeting and GenerationNext training. We would not have been able to accomplish the growth that we have without that support. I would be honored to give back by investing time and energy.
Why I am seeking election to the board: I have been an advocate for all aspects of agriculture my entire career. I believe that diverse agricultural communities create a stronger infrastructure to support our industry. I would like to further my support for the agricultural industry by serving on the Farm Credit East Board.
NOMINATED
FROM The Central Region
Bridgeton, Claverack, Cooperstown, Flemington and Greenwich offices.
Seat Three Two candidates are running for a four-year term.
Wayne Charles Reichle of Cape May, NJ
Business: Lund’s Fisheries, Inc.
997 Ocean Drive, Cape May, NJ 08204
Business Experience: President of Lund’s Fisheries, Inc., a family owned, vertically integrated seafood harvester, processor and distributor of sustainable seafood. Wayne oversees the company’s export sales to various countries and manages the company’s five production facilities and a fleet of 22 fishing vessels between the east and west coasts. Over the last five years, working alongside his father, the company has invested in taking products direct to market by bringing food service, retailers and national chains as direct to the resource as possible.
Website: LundsFish.com
Leadership/Community experience: N/A
Why Farm Credit is critical to my business: Farm Credit is important to our business because they understand the variables that farmers and fishermen are challenged with. Like farmers, the commercial fishing sector is challenged by mother nature, boom and bust harvest seasons, complicated state and federal regulations, limited access fishing permits, and many others. Farm Credit’s ability to navigate through these challenges and partner with fishermen and processors, like ourselves, has been critical to growth within the aquatic sector.
Why I am seeking election to the board: Serving as a board member would provide an opportunity for personal growth, networking and a deeper understanding of other industries within the Farm Credit System. Coming from a minority sector of Farm Credit’s portfolio would also provide an opportunity to give back to an organization that has been critical to our business growth and success.
Joel Robert Viereck of Logan Twp, NJ
Business: Viereck Farms LLC
110 Viereck Road, Woolwich, NJ 08085
Business Experience: Farm operations manager of Viereck Farms LLC, along with his father, David; uncles, Larry and Les; and cousin, Michael. Viereck Farms LLC is a fourth generation, diversified agricultural operation spanning 800 acres, specializing in high tunnel vine-ripe tomato production, alongside a diverse mix of vegetables, fruits and grains. Joel’s day-to-day responsibilities include managing crops, finances, labor, sales and other compliance needs. He and his wife, Brianna, have also developed a farm business producing wine, home-raised meats and fresh produce for retail.
Leadership/Community experience: Joel has served as president of the New Jersey Vegetable Growers Association, vice president of the Gloucester County Board of Agriculture and county director of New Jersey Farm Bureau. He also serves on the New Jersey State Board of Agriculture and the Gloucester County Agriculture Development Board. Joel is also active in his church and involved in coaching youth sports.
Why Farm Credit is critical to my business: Farm Credit East is essential to our businesses, providing tailored financial services that allow us to navigate challenges and seize opportunities. Farm Credit East’s deep understanding of agriculture’s unique needs, from financing to industryspecific advice, makes the cooperative an invaluable partner.
Why I am seeking election to the board: Farm Credit East has been an invaluable partner in the success of our family farm and I am seeking election to give back to its mission. Serving on the board will allow me to ensure its continued success. With a lifelong career in farming, leadership experience, and a foundation in finance and accounting, I believe I can offer a valuable perspective that aligns with the evolving needs of our cooperative. I am committed to ensuring that Farm Credit East remains a trusted and innovative financial partner for its members.
NOMINATED FROM
The Western Region
Batavia, Burrville, Cortland, Geneva, Hornell and Mayville offices.
Seat Four Two candidates are running for a four-year term.
John Patrick Knopf of Canandaigua, NY
Business: Fa-Ba Farms, LLC
2916 Cooley Road, Canandaigua, NY 14424
Business Experience: Senior member and majority owner of Fa-Ba Farms, LLC, a dairy farm. Together with nonfamily partner and planned successor, Robert DiCarlo, John develops business and capital allocation strategies. John’s responsibilities include oversight of feeding, forage crop planning and production, manure and CAFO compliance, and land and equipment maintenance.
Leadership/Community experience: John is current Farm Credit East Board Chair. Previously, he served as the vice chair and Audit Committee Chair. Additionally, John is a former nominating committee member for Farm Credit of Western New York and CoBank.
Why Farm Credit is critical to my business: I can’t imagine a vibrant Northeast agriculture if we did not have the financial, rural community and farm family support that Farm Credit East has provided for many years. Farm Credit East and predecessor associations have changed the trajectory of my career at every critical inflection point. Farm Credit East’s expert staff stand in the shadows and enjoy our successes, but always step to the front to help in times of adversity or need.
Why I am seeking reelection to the board: I am energized by opportunities to contribute to effective board development and succession. I seek a fourth and final term with a desire to positively influence the board leaders who will follow me. As chair, I have the responsibility to foster and encourage leadership skills – just as I was encouraged by experienced directors who took interest in my potential. If granted a final term, I hope to contribute to the future governance of Farm Credit East by encouraging the importance of board leadership development through a variety of experiences, assignments and training opportunities.
Samuel Sheehy of North Collins, NY
Business: Winery of Ellicottville 14 Monroe Street, Ellicottville, NY 14731
Business Experience: Co-owner and winemaker for the Winery of Ellicottville. Sam is primarily involved in the wine production from grape to glass, including sales. Up until July 2024, he was the assistant winemaker at Johnson Estate Winery.
Website: WineryOfEllicottville.com
Leadership/Community experience: Sam currently serves on the Mayville Customer Service Council. He has also served as a nominating committee member. Additionally, Sam serves on the board of the Ellicottville Chamber of Commerce.
Why Farm Credit is critical to my business: At the ages of 27, my wife and I established the Winery of Ellicottville. Working with Farm Credit East gave us the ability to establish our winery. At the time, other lending institutions did not exhibit the knowledge or expertise to assist us. After 15 years, we continue to have a strong working relationship with Farm Credit East, and they continue to help our business grow. I want to ensure that other new farmers and young producers have the same opportunity.
Why I am seeking election to the board: I am passionate in supporting agriculture and rural communities, and I believe I can contribute to Farm Credit East’s mission of providing reliable financial services. With my background in agricultural business leadership, I bring a unique perspective that aligns with the cooperative’s values. I am committed to fostering growth, sustainability and innovation within the industry while advocating for the needs of local farmers and businesses. Serving on the board will allow me to actively engage in shaping the future of Farm Credit East and support its customers in meaningful ways.
THE HUDSON VALLEY YOUNG FARMERS COALITION
SSince 2012, The Hudson Valley Young Farmers Coalition (HVYFC) has been working to mitigate the barriers for new entrants into agriculture. HVYFC encourages cooperation and communication among farmers to ensure access to resources and to strengthen local agriculture and food systems in New York’s Hudson Valley.
HVYFC invests in the next generation of diverse farmers and agricultural workers through workshops on equitable land access and a mentorship program. The Coalition provides technical assistance on sustainable and climate-resilient farming practices in addition to frequent community events, bringing farmers together.
Farm Credit East is proud to support The Hudson Valley Young Farmers Coalition’s efforts to pave a pathway for new entrants in agriculture. As a joint effort between Farm Credit East and our funding bank, CoBank, The Hudson Valley Yong Farmers Coalition has received grant funding through the Farm Credit Northeast AgEnhancement Program to expand their workshops and mentorship program.
Learn more: hvyoungfarmers.org
Building and sustaining agricultural communities
SPOTLIGHTStewardship
Current HVYFC chapter leaders.
Farm Credit East is launching a new opportunity to give a Young, Beginning, Small or Veteran (YBSV) customer a unique professional development opportunity, while providing the Farm Credit East Board of Directors insights into YBSV customer perspectives. This YBSV Board Advisor role is an excellent opportunity for a YBSV customer to gain valuable experience and contribute to the continuous improvement of Farm Credit East’s cooperative governance.
We are currently accepting applications for this new advisory role. Applications must be received by April 4.
YBSV BOARD ADVISOR
Introducing a new opportunity for a Young, Beginning, Small, Veteran (YBSV) Farmer Customer
Who is eligible?
The ideal candidate must be a Farm Credit East YBSV customer (either voting or someone who is an integral part of the farming operation of a current customer) who falls within any of the following four categories:
• Young – 35 years or younger
• Beginning – 10 years or less of farming experience
• Small – annual gross farm income under $350,000
• Veteran – those who have served at any time since September 2001
Additionally, the ideal candidate should have a personal career plan that includes leadership as well as outside knowledge or experience in areas relevant to cooperative governance and the Farm Credit System. They should demonstrate an understanding of financial and credit matters, strategic planning, and risk management, and have strong communication and analytical skills. The successful candidate will be required to be free from conflicts of interest, must maintain high ethical standards and must act in the best interest of the institution.
What are the responsibilities of the YBSV Board Advisor?
The YBSV Board Advisor will be appointed by the board of directors to a term running from July 2025 to March 2026. The YBSV Board Advisor will be expected to attend and participate in Farm Credit East Board meetings during this time frame. Additionally, the advisor will participate in at least one board committee meeting each quarter.
While this is not a voting position, the advisor will be expected to review board materials, participate in board discussions and provide feedback and insights from a YBSV perspective.
The YBSV Board Advisor will receive a $25,000 retainer plus reasonable expense reimbursement.
More Information
For additional details into the eligibility, requirements and responsibilities of the YBSV Board Advisor, or to apply, visit our website: FarmCreditEast.com/YBSVadvisor
2025 Priorities to Watch
As I write this Washington Update, the one thing I’m sure of is 2025 will be challenging for the 119th Congress with a closely divided House and Senate. Key legislative issues for the House and Senate include government funding; domestic tax policy, like extending or amending the Tax Cuts and Jobs Act of 2017; and immigration reform and border security.
With less than 60 Senate votes necessary to pass legislation, the Republican majority will rely on the congressional reconciliation process to pass money-related bills. This special legislative procedure can only be used to pass money issues such as taxes, spending and the debt limit. It is a long process with a parliamentary trip wire known as the Byrd Rule that prevents tangential material.
The real challenge for passing legislation, even with the reconciliation process, is the tight GOP majority. Dependent on special elections for open seats in Florida, it is likely that only a couple of votes will determine passing legislation in the House.
2023 2024 2025 Farm Bill Update
The stopgap spending bill (H.R. 10545, the “American Relief Act, 2025”) passed by Congress and signed by the President on December 21, 2024, included a one-year extension of the 2018 Farm Bill, keeping a new
five-year farm bill on the to-do list. This is the second extension of the farm bill which was last approved in 2018.
Congressional leadership includes Senator John Boozman (AR) who is Chair of the Senate Agriculture Committee, with Amy Klobuchar (MN) serving as Ranking Member. Congressman Glenn “GT” Thompson (PA) continues as Chair of the House Agriculture Committee, with Angie Craig (MN) serving as Ranking Member. These four will have the greatest influence on the legislation along with subcommittee leaders. It is important to note from Farm Credit East territory, Senator Peter Welch (VT) will serve as Ranking Member of the subcommittee overseeing Farm Credit issues.
Agriculture Chairman Glenn “GT” Thompson said he hopes to pass a farm bill early this year that addresses the ongoing decline in farm income, but it will be increasingly difficult with the closely divided congress and the legislative priorities previously listed. Another possible stumbling block is the congressional reconciliation process may use funding offsets from farm bill programs, making them unavailable for farm bill priorities and negotiations.
While the House Agriculture Committee passed a farm bill out of committee last year, the process will start over. It may be the committee bill from last year provides a framework for a new bill, but new leadership, congressional reconciliation process and priority legislative issues will make it difficult.
Several Farm Credit backed proposals will need to be re-introduced this Congress that would allow Farm Credit to lean into meeting the capital needs of rural America in such areas as rural housing, critical community facilities, fishing industry support, and increasing the limit on United States Department of Agriculture (USDA) Farm Service Agency (FSA) loan guarantees, an important tool for Farm Credit East to support beginning farmers and customers overcoming financial challenges. We will work on the re-introduction of these “marker bills” as it is the intent for them to be included in the farm bill.
WASHINGTON Update
Dave Lane
Senior VP for Public Relations and Sustainability
In addition to Senator Welch, the Northeast continues to have several members on the agriculture committees, including Senator Corey Booker (NJ), returning representatives Jim McGovern (MA) and Jahana Hayes (CT), and new representatives Josh Riley (NY) and John Mannion (NY). It’s important to let these members know your views. Even if your representatives and senators are not on the agriculture committees, it’s still important to reach out, as all 535 representatives and senators will vote on the bill.
For our part, Farm Credit East will be engaging with lawmakers to encourage them to pass the farm bill in a timely fashion. In addition to sustaining crop insurance and other safety net programs, we’ll also fight to protect and enhance Farm Credit authorities so we can continue to carry out our mission to support rural communities and agriculture with reliable, consistent credit and financial services, today and in the future.
New Secretary of Agriculture
I’m pleased to mention Brooke Rollins from Texas is the new USDA Secretary. Rollins received support from several national agricultural organizations and unanimous support by the U.S. Senate Committee on Agriculture, Nutrition and Forestry. Rollins grew up on a Texas farm baling hay and raising livestock. She also spent time on her family’s farm in Minnesota, participating in 4-H and FFA.
A graduate of Texas A&M with a Bachelor of Science degree in Agricultural Development, she has a strong knowledge of agriculture. Rollins served in the first Trump administration focusing on rural priorities as the Director of United States Domestic Policy Council. During Senate confirmation hearings, Rollins supported President Trump’s immigration and tariff policies indicating she would find ways to cushion the impact.
FINANCIAL PARTNER is for the customers, employees and friends of Farm Credit East. Farm Credit East is a customerowned lending cooperative serving the farm, commercial fishing and forest products businesses in Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont. Part of the national Farm Credit System, Farm Credit East is a full-service lender dedicated to the growth and prosperity of agriculture.
HOW TO REACH US: Whether you want to praise us, complain, ask our advice or just let us know what’s on your mind, we’d like to hear from you.
