Sunday, February 12, 2012

Maple Sugaring Panel

Tom St. Pierre, loan officer from our St. Albans office, was on a Maple Sugaring Panel at Cold Hollow Career Center (CHCC) in Enosburg Falls on 2/1/2012. CHCC has a maple operation as part of their program and they wanted a panel of industry experts to educate the students on what it would take to establish their own operation after graduation. The conference room at CHCC was packed with 75 plus students, panelists, parents, and teachers, totaling almost 90 people.

Joining Tom on the panel were Karen Fortin of Carman Brook Farm who talked about marketing; Nancy Patch, Franklin County Forester who talked about how to keep the sugarbush healthy; David Butler from Leader Evaporator talked about the maple equipment needed and costs. Tom discussed business planning; financial planning; funding for loans; and overall commitment of a sugaring operation.

Friday, February 10, 2012

CenterPoint Training

Red Wing Software is offering training on their CenterPoint farm accounting software May 1-3 in Enfield, CT. If you are a Yankee Farm Credit customer using this software, you may be interested in one or more days of this training. Details here. Tuition cost is $200 per day. We will reimburse half the tuition cost for Yankee customers. For qualifying young, beginning or small farmer customers (including FarmStart), we will reimburse the full tuition cost. Please contact Ruchel St. Hilaire for tuition reimbursement. Participants will be responsible for their own hotel, travel and meals expense.

If you would like to purchase CenterPoint farm accounting software, please contact one of our branch offices.

Monday, February 6, 2012

Marie Guay Recognized with Phelps-Martin Award



Last summer Senior Loan Officer Marie Guay in our Chazy, NY office passed away after a short battle with cancer. Her memory was honored with the Phelps-Martin Award for Community Service last month at the Farm Credit Council annual meeting in Washington, DC. Several family members traveled to Washington for the occasion. Donald Guay, Marie's husband, received the award from FCC Board Chairman Mike Garnett:


Marie truly deserved this award. (Click here for more information about the Phelps-Martin Award for Community Service.) Marie lived her life in service to others. She was devoted to her family. She gave freely of her time and energy to her friends and neighbors. She was a leader in her church and also in Boy Scouts when her two sons were young. She was dedicated to her customers and co-workers at Farm Credit, and to the greater agricultural community in which she lived.

In 2005 Marie's boss and friend Gordon Hurlburt, a long-time employee of Yankee Farm Credit, was diagnosed with cancer. Marie became involved with the Plattsburgh Relay for Life to raise money for cancer research. Later in 2005 Marie's mother was also diagnosed with cancer. Gordon died in 2006 and Marie's mother died in 2007. Marie became increasingly involved in Relay for Life (see this blog post for example) serving first as Team Captain Chair and then as Survivor Committee Chair. Her last Relay was in June 2011. How ironic that Marie herself, who never smoked, should be diagnosed with lung cancer in July. She died on August 1, 2011 (obituary).

Marie's connections with Farm Credit ran deep. She started working for Farm Credit in the Chazy, NY office in 1983 as an office assistant, eventually advancing to senior loan officer. Marie and Donald also operated a family dairy farm and were Farm Credit customers. Their son Rob continues the tradition of Farm Credit employment, working as an appraiser trainee in the Chazy office.

Present for last month's presentation of the Phelps-Martin Award, in addition to family members, were several Yankee Farm Credit directors and employees and Congressman Bill Owens of Plattsburgh, NY. Before being elected to Congress, Mr. Owens was an association attorney for Yankee Farm Credit. Marie worked closely with him, and in fact left Farm Credit for six months in 1995 to work briefly for Mr. Owens.

Left to right in the photo below  Doris Trombley, Lisa Wener, Alan Bourbeau, Congressman Bill Owens, Walt Gladstone, Donald Guay, Rocky Giroux, Rob Guay, George Putnam, Kevin Guay, Steve Taylor, Rachel Dutil:


The Phelps-Martin Award for Community Service that Donald Guay is holding in the above photos:


We all wish that Marie herself was here to receive this award. She is greatly missed by everyone who knew her.

Friday, January 20, 2012

NH Risk Management Workshop

The 2012 New Hampshire Risk Management Workshop for Agricultural Professionals was held on January 13th. Around 50 people gathered at the Holiday Inn in Concord. Jeff Temple, Vice President, and Clara Hall, Credit Analyst, represented Yankee Farm Credit at the meeting. There was also representation from the Bedford Office of Farm Credit East.

Lorraine Merrill, NH Commissioner of Agriculture, started the day off stressing the importance of collaboration and cooperation of knowledge and resources across the different agriculture agencies. She also reminded us to encourage participation in the 2012 Census. She touched on one of NH's biggest challenges, the growth of Boston and developments in New Hampshire. In the 2007 Census NH was 5th in the nation for largest percentage of agriculture land getting developed at 10-20% (for comparison, VT is at 2-5%).

Marge Kilkelly, Deputy Director of Eastern Regional Conference/Council of State Government, followed Commissioner Merrill and discussed the 2012 Farm Bill. She brought to our attention that if the Farm Bill doesn’t go through this year there will be 37 programs lost, but she remained optimistic because there are 8 Members in the House and 3 Members in the Senate from North East Agriculture. Ms. Kilkelly expressed that her number one priority is to make a plan within the NE region.

Dave Bishop, Bedford Branch Manager, Farm Credit East, spoke next about the plan for Agriculture Credit over the next few years. He addressed the most significant influences in planning for credit as being the health and future of our customers, skilled staff, cost and availability of capital and the ability to manage risk. His take-aways for our customers were the importance of Working Capital and the need for Self Evaluation. He also noted the significance an FSA guarantee can carry for different situations.

Gene Gantz, USDA Risk Management Agency, presented on Risk Management Plans. He handed out a Risk Management Checklist (which is available at each office) that is a great planning tool for farmers, and he talked about how vital it is to know what your insurance covers so that you know what to expect when you need to cash in.

James Phinizy, the NH State Director for the Farm Service Agency, followed lunch and talked about different programs that FSA offers. Mr. Phinizy explained the Emergency response process which starts with the 5 county offices who contact farmers, extension offices and NRCS in order to compile notes. If a natural disaster is declared it is considered at a committee level first then goes to the state and then on to the national level; once it is approved applications begin to be processed. Mr. Phinizy also touched on NAP which is a non-insured assistance program available for products without current crop insurance accessible.

Greg Thompson, of Freedom Energy Logistics, educated us on ‘Deregulation’ which is not energy conservation or an increase in energy efficiency but a way to ‘pay less for what you use’. In 1999 federal government enacted a law forcing local electric utilities to allow other electricity suppliers to carry power over their lines, creating a competitive environment. There are currently 17 deregulated states, NH being one of them (VT is still regulated). Freedom Energy Logistics ‘aggregates’ individuals giving them the same advantage and buying power that big companies have and thus creating a lower cost.

Rick Ellsmore, State Conservationist with NRCS, talked briefly about programs they are working on including: the 90/10 solution (Conservation Delivery Streamline Initiative), EQUIP, WHIP, AMAP, CSP, Easement programs, and their Local Work Groups which meet and discuss needs for each county.

Lisa Townson, Assistant Director of UNH Cooperative Extension, ended the day letting us know updates with the extension office. The budget decreased by $1.7 million and because of that they have lost 23 positions since the first of the year. That being said, they are working on regionalizing and specializing their staff and will rely on grants to cover 35% of their budget. They are excited about 4 new program teams: 1) Food and Agriculture 2) Natural Resources 3) Youth and Families and 4) Community Economic Development.

Friday, January 13, 2012

2012 Director Nominees

The Nominating Committee has nominated the following individuals for director:

Region 1:
Rocklyn A. Giroux, Beekmantown, NY

Region 2:
William F. Johnson, Canaan, VT
Bradley Maxwell, Coventry, VT

Region 3:
Scott C. Mitchell, Brandon, VT
Stephen H. Taylor, Plainfield, NH

One director from each region will be elected at the 2012 Annual Meeting which will be held in four sectional meetings April 9-17, 2012. Nominations from the floor are allowed, but may be made only at the first sectional meeting on April 9 at the Lake Morey Inn. Voting members as of February 29, 2012 will be eligible to vote at Annual Meeting.

See this post for definitions of the regions and contact information for the Nominating Committee.

Thursday, January 12, 2012

FarmStart - Jon and Kristie Lucas

With help from FarmStart, Jon Lucas and his family have realized their dream of owning a dairy business. Lucas Dairy, LLC purchased a 170-cow dairy herd from David Russell in Starksboro, Vermont, earlier this month.

Jon spent the past three years managing the herd with this goal in mind. This was a mutual effort between Dave and Jon. Dave spent a number of years looking for the right person to pass his business onto. Jon’s ability, commitment and passion proved him to be this person.

Jon's experience prepared him for this milestone. Jon, age 31, participated in 4-H from age 8 to 18, attended Vermont Technical College, and then spent 10 years working on dairy farms.

This is a family effort. Jon’s wife Kristie will be using the CenterPoint accounting program provided by Red Wing to do the farm records.

Jon put his business plan together and obtained the necessary financing to purchase the dairy business. His final hurdle was how to cover his startup costs, particularly while waiting for his first milk check. This is where FarmStart provided the missing piece. Lucas Dairy, LLC applied for a $50,000 FarmStart investment to cover the startup costs and spring expenses.

Senior Loan Officer Sue Kelley from the Middlebury office says, "I’m very excited to be Yankee’s FarmStart Advisor for this young business!"

Monday, January 9, 2012

Urgent - IRS Mandates Disclosure for Form 1099 Filings

Understated business income is definitely an area of IRS concern. One way in which the IRS encourages the reporting of income is by requiring those making payments to individuals to report those payments on Form 1099. For 2011 tax returns, the IRS has now mandated that taxpayers indicate whether or not they have filed all required 1099s. Taxpayers and their preparers can be penalized for failing to answer this question accurately. And, of course, there continue to be penalties for the failure to file 1099s.

Don’t be surprised when your tax preparer asks you questions about your 1099 reporting. If you are currently a tax client you will be receiving a more detailed letter in the mail in the next several days. We request that you answer the questions enclosed with it and return to us so that we can properly prepare your 2011 tax return. If you are still doing your own return, be careful about answering these new questions so that you don’t receive greetings from the IRS after you file. If you need help in filing your 1099s this year, please call your local Farm Credit office.

Friday, December 23, 2011

Newsletter - Association Insider

The first edition of our new newsletter, the Association Insider, was mailed today!

Click here to read it online.

Articles include:
  • Is Farming a Business or Lifestyle?
  • Westlands Farm Survives Despite Irene's Wrath
  • Did You Know...Yankee Offers Crop Insurance?
  • Payroll Changes for 2012
  • Financial Status
  • Maple Pudding Cake Recipe
  • FarmStart Initiative - Steven Gleason and Michelle O'Rourke
We hope you enjoy our new newsletter. If you have any comments or suggestions, please let us know.

Thursday, December 22, 2011

Celebrating the Fruits of Local Agriculture

Each Christmas Yankee directors and employees celebrate the diversity of local agriculture with a selection of tasty food products from farmers in Yankee's territory. This year's selection included:

Sausage - from Lincoln Farm in Randolph, VT
Eggnog - from Hatchland Farm in North Haverhill, NH
Landaff Cheese - from Landaff Creamery in Landaff, NH
Maple Syrup - from Doton Farm in Barnard, VT
Fudge - from Dutton Berry Farm in Newfane, VT
Wine - from Shelburne Vineyard in Shelburne, VT
Yogurt - from Kingdom Creamery in Hardwick, VT
Cookies - from Chazy Orchards in Chazy, NY

Once again we extend our sincere appreciation to all farmers in Yankee's territory for the wonderful bounty from their farms.

Tuesday, December 20, 2011

David Lane and Donald Wells


David Lane has accepted the position of Senior Loan Officer in our St. Albans branch. Dave started on November 30th. He has prior lending experience as an agricultural loan officer with Vermont Agricultural Credit Corporation (a division of VEDA) and for the Vermont Community Loan Fund where he was the Director of Lending. Prior to working at VACC, David was Deputy Secretary for the Vermont Agency of Agriculture and Executive Director of the Intervale Foundation. David and his wife Julie reside in South Hero where they own Crescent Bay Farm Bed and Breakfast. Dave is a graduate of the University of Vermont.
Donald Wells has joined Yankee as a Loan Officer, also in the St. Albans branch. Don was the General Manager and Controller for CDL, USA (a Canadian maple equipment company in St. Albans) and has experience in financial management and tax preparation having worked for Hub Transportation Insurance, IBM, Jacobs, Marchand, & Morrisette and KPMG, LLP. Don grew up in Sheldon and resides in Fairfield. Don is a graduate of Champlain College.

Both Dave and Don will also serve customers in Clinton County, New York, from our Chazy satellite office along with Tom St. Pierre and Chuck Custeau.