The Farm Credit Illinois Lawrenceville and Mt. Vernon regional offices recently made investments in local youth programs. The donations are part of the financial cooperative’s ongoing support of rural communities and agriculture. In 2016, FCI invested more than $245,000 in youth, community, and ag literacy initiatives throughout its 60-county marketplace. [Read more…]
Farm Credit Illinois projects a $2.8 million return to farmers through the two-month Harvest Interest Returns program announced on Thursday. The program will provide zero percent interest in October and November on more than 3,700 FCI operating loans.
Members with existing FCI operating loans in place on August 1, 2017, qualify. All interest accrued on qualifying loans with balances up to $500,000 during the months of October and November will be credited back to the loan during the months of November and December. [Read more…]
Each year the Farm Credit Illinois (FCI) appraisal team evaluates the same 20 benchmark farms throughout its 60-county territory based on the land’s productive index (PI) rating, as calculated by the University of Illinois’ Bulletin 811.
Value Trends in the Last Decade & Today
Land values in the central and southern 60 counties of Illinois declined for the third consecutive year following a dramatic run-up in values from 2003-2014.
The 2015 benchmark study showed the first overall decline in more than a decade with an average decrease of 1.51 percent. 2016 showed a more widespread decrease with an overall average decline of 6.34 percent and 16 of the 20 benchmarks declining in value.
Sustained lower commodity prices and net farm income are starting to have a greater impact on farmland values. While demand for Illinois farmland remains favorable due to a limited supply and still historically low interest rates, farmland values have further declined 4.17 percent from July 1, 2016, to June 30, 2017, in FCI’s territory. Thirteen benchmark farms decreased in value, five showed virtually no change, and two slightly increased. [Read more…]
The Farm Credit Illinois Jacksonville regional office recently made a $500 investment in the Cass-Morgan County Farm Bureau’s Ag in the Classroom program. The donation is part of the financial cooperative’s ongoing support of rural communities and agriculture. In 2016, FCI invested more than $245,000 in youth, community, and ag literacy initiatives throughout its 60-county marketplace. [Read more…]
Farm Credit Illinois recently hired three new employees – Samantha Donahue, of Bloomington, Aimee Poskin, of Champaign, and Kim Redenius, of Ashkum.
Donahue was hired as a credit assistant in the credit services division at the cooperative’s central office in Mahomet. She grew up in Livingston County and graduated from Prairie Central High School before receiving her bachelor’s degree in economics from Illinois State University. Prior to joining the Farm Credit team, she worked for nine years as a commercial appraisal specialist at Heartland Bank in Bloomington. Donahue and her husband Keith have two daughters – Emma (10) and Maggie (4). [Read more…]
Agriculture Future of America (AFA) and AgriBank, Farm Credit Illinois’ funding bank, selected Madison Mitchell, of Mahomet, for a prestigious scholarship program. Mitchell is one of two scholars chosen from a pool of applicants across the 17-state AgriBank District.
The William J. Collins Scholarship is part of the AFA Leader and Academic Scholarship program which gives children of Farm Credit employees within the AgriBank District – planning to pursue agricultural careers – access to premier personal and professional development and financial assistance for their college education. This year’s outstanding students are pursuing agriculture-related, four-year degrees and passionate about the future of the agriculture industry. [Read more…]
The class of 2017 Farm Credit agriculture scholars was recognized at a scholarship luncheon at Farm Credit Illinois (FCI) in Mahomet Thursday, June 1.
A total of $48,000 of scholarships were awarded to 24 high school seniors pursuing an agriculture-related major and career. Each scholar receives $2,000 to use toward their education. Twenty-two of the students attended the recognition program. [Read more…]
As a member-owned cooperative, Farm Credit Illinois is constantly striving to meet the needs of its membership through new products and services. FCI is now offering a rural appraisal service.
At the suggestion of FCI members who often found it challenging to hire an available certified appraiser to provide a timely appraisal, FCI is now offering a rural appraisal service. Appraisals can assist members and their extended families with estate planning and settlements and real estate transactions for both buying and selling properties.
Available at a competitive price to all FCI members – including borrowers and crop insurance customers – these high quality, confidential appraisals are backed by the most comprehensive sales database in the territory and completed by experienced state certified general appraisers. [Read more…]
Dave was raised on a small livestock and row crop farm in Effingham County and received a bachelor’s degree from the University of Illinois at Urbana-Champaign in agriculture economics. After a 13-year stint at COUNTRY, Dave became a state certified general real estate appraiser and operated an independent fee appraisal service for about 20 years. Dave joined the FCI appraisal team, based in the Effingham regional office, in March 2012. Dave and his wife Becky reside in Effingham and have three children and seven grandchildren. [Read more…]