Farm Credit AgEnhancement Awards $37,800 to Farm Programs in the Northeast

 

The Farm Credit Northeast AgEnhancement Program recently distributed grants totaling $37,800 to agricultural programs in the northeast. 17 grant proposals were approved by the selection committee, including several from Yankee territory.

The Farm Credit Northeast AgEnhancement Program was founded in 1996 as a way for the northeast Farm Credit associations to support local agriculture and to foster agricultural growth. It is a joint effort between Yankee Farm Credit, Farm Credit East, and CoBank. Since 1996, the program has awarded nearly 600 grants and disbursed over $1.5 million dollars to recipients. The grants are awarded three times per year--in April, August, and December.

The August 2014 proposals approved for funding are (in no particular order):

NYS Ag Society - Awarded $4,300 to support the Century Farm Family recognition program for 2015. The program recognizes "Century and Bicentennial" farm families, and gives a brief history and overview of each family at an event that is covered by state and local media.

Northeast Sustainable Agriculture Working Group (NESAWG) - Awarded $2,500 to help support the group's annual "working" conference, which will take place this year from November 10-12 in Saratoga Springs, NY. NESAWG's primary focus is on developing farming and food systems that are sustainable, viable, and socially responsible.

Vermont Agency of Agriculture, Food and Markets - Awarded $3,000 for their annual Human Resource Management Training for producers in Vermont. The training will include two one-day workshops, one in White River Junction and one in Burlingon, and will concentrate on honing an employer's ability to hire the right people and build a strong employee team.

Young Dairy Leaders Institute (YDLI) - Awarded $1,000 to help fund the YDLI dairy leadership program. The program offers guidance, support, and training to young adults (ages 22-45) who are actively involved in dairy production or any ancillary industries. YDLI is a national program coordinated by the Holstein Association in Brattleboro, VT.

NOFA NJ - Awarded $1,000 to support the business and technical workshops offered by the organization. The workshops assist new and beginning organic farmers and small-scale producers in the early stages of their careers by providing them the requisite education, training, and knowledge to establish viable farm enterprises.

NJ Ag Society - Awarded $3,000 for the "Learning Through Gardening" program. The program's goal is to increase agricultural literacy by implementing school gardens and teaching students how to grow fruits and vegetables. The program will take place throughout the 2014-15 school year.

Organization for Refugee and Immigrant Success (ORIS) - Awarded $2,000 to help fund a project that will aid refugee farmers in growing and developing their farm businesses. The program has three goals in mind: providing day long workshops, providing follow up technical support, and training two crew leaders who will directly help the refugees in growing, harvesting, and marketing their crops.

New York Farm Bureau Fusion Forum - Awarded $1,000 to support the New York Farm Bureau's "Fusion Forum." The Fusion Forum will be held in March 2015, and attendants will be provided with several talks and workshops that aim to encourage both personal and professional growth by helping one to find his/her passion and purpose.

NH Ag in the Classroom - Awarded $2,000 to develop, publish, and distribute a book for elementary school students. The book will focus on the importance of agriculture in New Hampshire. A copy of the book will be distributed to 316 elementary schools throughout the state.

Orleans County Cornell Cooperative Extension - Awarded $2,000 to conduct the first phase of an academic study aimed at identifying the economic feasibility and impact of shared-use kitchens in northwestern New York. The proposed facility would be located at the Orleans Country 4-H Fairgrounds, and would serve 5 counties.

Cornell Cooperative Extension Erie County - Awarded $2,500 to aid in the Extension's hosting of the 2-day "Hoptoberfest" workshop in October. The workshop is aimed at new and beginning growers of brewing grains and brewers, and training will focus on growing and marketing brewery hops and grains, as well as a "how to" on starting a microbrewery.

American Farmland Trust (AFT) - Awarded $1,000 to support the first pilot training of the Local Agriculture and Land Use Leadership Institute program, which provides valuable knowledge and skills about land use and policy to participants. The training program is being provided via a partnership between AFT and Cornell's Community and Rural Development Institute.

Cornell University Junior Dairy Leader Program - Awarded $5,000 for the Junior Dairy Leader Program. The program focuses on career awareness and personal/professional development for young people (aged 16-19) interested in the dairy industry.

Strafford Country Conservation District - Awarded $1,000 to help the District host 3 half-day workshops throughout New Hampshire in the fall of 2014. The workshops will provide farmers with information about soil health, no-till practices, and cover cropping.

Green Peas TV - Awarded $1,500 for the "Farm to Table to Body" project, which aims to increase awareness about the role of agriculture in America. The project will create a network of involved elementary school teachers, and will bring agricultural education back into the classroom with the aid of modern technology.

New Entry Sustainable Farming Project - Awarded $3,000 to help the project develop, produce, market, and distribute a "Guide to Farm Financing Video." The video, which will be 15-20 minutes in length and is expected to launch in August 2015, will educate farmers and allow them to improve the economic viability of their farming operations.

Massachusetts Forest Alliance - Awarded $2,000 to develop a report that examines the extent and economic importance of the Massachusetts's forest products industry. The report hopes to accurately capture the state of the MA forest industry today and objectively map and measure progress and growth.

The deadlines for submitting grant proposals to the Northeast AgEnhancement Program are April 1st, August 1st, and December 1st.

If you or someone you know is interested in submitting a funding proposal, please contact Ruchel St. Hilaire in the Williston office at (802)-879-4700. Send all proposals for funding to AgEnhancement@YankeeACA.com. For more information, including the application process and requirements, visit: https://www.yankeeaca.com/en/About-Us/Industry-Support/AgEnhancement-Grants.

China loves cheese!

The Daily Beast had an interesting article yesterday:

Say Cheese–China's New Obsession

"Cheese is finally breaking into the world’s fastest-growing consumer market."

When Vermont Secretary of Agriculture Roger Allbee led a trade delegation to China in 2007, we were given a presentation in Beijing by Mr. Daniel Chan of the U.S. Dairy Export Council. One of the graphs that he talked about was this one:

This graph shows that cheese consumption in Japan and Korea was basically nonexistent before those countries hosted the Olympics in 1964 and 1988, respectively. Cheese was developed by Middle East and European cultures (more info). Asian cultures did not really know about cheese or develop a taste for cheese until their societies became open to the rest of the world. The Olympics were a major milestone in that process of opening up to the rest of the world.

We visited China as they were preparing to host the 2008 Olympics. The USDEC was hoping that cheese consumption in China would take off after the Olympics, as it did in Japan and Korea.

It looks like the USDEC's hope is coming true! Now if we can just get articles like the one in The Daily Beast to talk about Northeast cheese instead of Wisconsin cheese...

2014 Ag Hall of Fame Inductees

Congratulations to the five people inducted into the Vermont Agricultural Hall of Fame on August 27th at the Champlain Valley Fair!

• Joseph Carrigan
• Ronald Greenwood
• Richard Moore
• Harry Morse Sr. 
• Lucien Paquette.

Yankee staff in attendance at the luncheon to honor the inductees were George Putnam, CEO; Dave Lane, AVP/Branch Manager; and Morgan Rilling, Credit Operations Coordinator.  

 If you would like to nominate a farmer for the hall of fame, please click here to go to the Champlain Valley Fair website and access the form. For a list of prior inductees please click here.

New Employee - Katy Coombs

Yankee Farm Credit is pleased to announce the hiring of Katy Coombs. Katy joined the White River Junction office as a Credit Analyst in late June.

Katy graduated from Sweet Briar College in Sweet Briar, VA with a bachelor’s degree in business management and a certificate in equestrian studies. Katy was a member of the Field Team at Sweet Briar, an equestrian team which participated in fox hunting, hunter paces, hunter trials, and riding out.

Growing up on her family farm in Sandwich, NH, Katy developed a love for farming, agricultural recreation, and animals. During high school and college, she worked in many different capacities for her family’s company, A&B Lumber in Moultonborough, NH. Katy has also worked as a horse trainer and riding instructor for many years in New Hampshire, Virginia, and New York.

Katy relocated to Woodstock, VT, where she currently lives with her Llewellyn Setter, Hank, and her beloved Morgan Horse, Shadow. Katy is active in the local equestrian and polo communities in the Upper Valley region of Vermont and New Hampshire.

From Katy: “I have really enjoyed my time so far with Yankee Farm Credit and am looking forward to the challenges and opportunities that my future with the company may hold.  Growing up in a farming family, I have always held a very strong admiration and respect for the culture and the individuals in the agriculture world.  I am excited to be able to combine my passion for agriculture and my education in business to see what I can offer Yankee Farm Credit and the local community.”

Katy brings superlative energy and potential to the Yankee team. Please join us in welcoming her to the staff!

New Employee - Denise Kellner

We are pleased to announce the hiring of Denise Kellner. Denise was hired as a loan officer in the St. Albans office, and started work in late June.

Denise lives in East Fairfield, VT with her husband, Ted, and her 9 year old son, Hazen. She enjoys the outdoor life, spending many weekends each summer camping with her family. 

As an active and involved member of the community, Denise regularly volunteers her time. She currently serves on the board of directors for the Fairfield Community Center, and spent many years helping to raise money for the Dragon Heart Vermont Survivorship Now program, acting as a team captain in the annual Dragon Boat Festival.

With her diverse and accomplished background, Denise brings a wealth of knowledge and expertise to Yankee. She was the Assistant Vice President and Branch Manager of Citizens Bank in St. Albans, held a Nationwide Mortgage Licensing System registration, and also worked as a Branch Administrator with Edward Jones in Essex, VT.

Denise is excited to join the Yankee family and to get back into lending. Please join us in giving her a warm welcome!

2014 Farm Tour

On Friday, July 25th, Yankee employees, directors, and guests from CoBank toured a variety of farm operations in the Connecticut River Valley-- part of the territory of Yankee's White River Junction branch.

Under the cloudless sky of a beautiful summer day, the group traveled first to Vaughan Farms--a family dairy operation in East Thetford, VT. Owners Pat Waterbury and Darren Vaughan gave a tour of their new free stall barn, which includes 4 robotic milkers. Pat and Darren built the 240 cow facility in 2013 and have had positive results with increased productivity and efficiency from their transition to robotic milkers.

The Vaughan's 2014 corn crop is looking great!

Ken Nelson, Assistant Vice President of the White River Junction Branch, asks Pat to discuss the process of transitioning from a milking parlor to robotic milkers

Pat shows a few of our directors some of the reports that he can generate with his new robotic milking system

Happy cows!

The robots in action!

After saying goodbye to Pat and Darren, the group traveled just down the road to Long Wind Farm, Inc, also in East Thetford. Long Wind is a large-scale organic tomato farm that focuses on wholesale produce markets, selling most of their crop to regional grocers while also maintaining a popular farm stand. All of the tomatoes are grown in greenhouses. Many greenhouses of varying sizes dot the Long Wind property.

Owner/Operator Dave Chapman, gave the group a tour of his facilities. Of particular interest was Long Wind's newest greenhouse--a large, state-of-the-art, Dutch-designed greenhouse that was erected recently by a construction firm based in The Netherlands. The greenhouse (shown in the picture to the right) covers over an acre of land, and features an automated roof cleaning system, advanced polymer and glass construction, and a ventilation system that can clear and change out the air in the greenhouse in less than 45 seconds.




After leaving Long Wind, the group crossed the Connecticut River and visited McNamara Dairy in Plainfield, NH. The McNamara's are a 3 generation dairy farm, with many members of the family involved in the everyday running of the farm--which includes a dairy operation, a bottling plant, and a sugarhouse.

The group enters the McNamara Dairy storefront and bottling plant

Tom McNamara explains the milk bottling process to the group

McNamara Dairy bottles the majority of their milk themselves, selling a variety of milk and dairy products in their own store, as well as in dozens of stores throughout the region. Products include whole, 2%, and skim milk, heavy cream known for its exceptional density and turgid longevity post-whipping, butter, and a delicious and renown chocolate milk that is made with a locally sourced chocolate. McNamara milk is recognized by its distinctive bottles--thick and heavy glass containers available in several different sizes.

After touring the McNamara's extensive operation, the group settled down in front of the family's beautiful farmhouse and had lunch. The offerings included sandwiches made with ham and turkey from local smokehouses and farms, potato salad (also made from local produce), blueberry pies, and pints of McNamara milk!

The group finished lunch and thanked the McNamara's for their hospitality, and boarded the bus and again crossed the Connecticut River. The tour's last stop was at Oak Knoll Dairy, LLC in Windsor, VT. Owners George Redick and Karen Lindbo, who have operated the goat farm for over two decades, led the group on a tour of their facilities.

In the milking parlor

Goats are fed a pre-measured amount of grain via a chute

Oak Knoll Dairy bottles and packages its own goat milk and yogurt. Their products are sold up and down the eastern United States, with one refrigerated truck delivering milk and yogurt all the way to Georgia! The group enjoyed taste testing goat's milk--both plain and chocolate--as well as the yogurt. Oak Knoll also sells a portion of their herd for meat.

Yankee would like to give a big thank you to all of the farmers involved with the tour, who graciously opened up their farms and offered excellent insight into their daily operations.Yankee would also like to thank all who attended, including our friends at CoBank. A special thank you goes to the White River Junction branch staff who helped to plan the tour. It was a wonderful day!

Congressional Visits

On July 30, Yankee Farm Credit visited Congressional offices in Washington, DC. Participating were: Chairperson Rocky Giroux, Board Member Steve Taylor, Board Member Walt Gladstone, Staff Appraiser Rob Guay and Bob Smith. Bob Smith is a senior vice president of Farm Credit East who assists several associations with government relations.

The Yankee group visited people in eight Congressional offices:

• Sen. Patrick Leahy and Adrienne Wojciechowski
• Rep. Peter Welch and Patrick Satalin
• Rep. Ann McLane Kuster and Meghan Gaffney Buck
• Rep. Bill Owens and Nell Maceda
• Kathryn Tanner in Sen. Kirsten Gillibrand's Office
• Emily Lynch in Sen. Kelly Ayotte’s Office
• Erica Anhalt in Sen. Jeanne Shaheen’s Office
• Caryn Compton in Sen. Bernard Sander's Office

In addition, they attended lunch with Rep. Ann McLane Kuster.  The picture below was taken just prior to lunch.



Left to Right:  Rob Guay-Staff Appraiser, Walt Gladstone-Board Member, Rep. Ann McLane Kuster,
Rocky Giroux-Board Chairperson, Steve Taylor-Board Member

Our main message was to remind our representatives that Yankee Farm Credit continues to meet the needs of our members by providing constructive credit and related services.  In addition to healthy loan growth in 2013, Yankee Farm Credit paid $4.9 million in patronage refunds to member-customers by maintaining excellent financial results.  The Congressional Offices were keenly interested in Yankee Farm Credit’s involvement and success with programs serving beginning, young and small farmers, including the FarmStart program.  We urged our representatives to continue to support a strong cooperative Farm Credit System and the message was well received.

The Senate passed an immigration reform bill last year but the House had not yet addressed this issue.  We expressed our support for immigration reform, stressing the need to address agricultural labor issues so that our members can be assured a reliable work force.  Representatives were encouraged to support either comprehensive immigration reform or at least legislation which addresses the needs of our nation's farmers for year-round guest workers.

The Farm Bill passed earlier this year places a great deal of importance on the Federal Crop Insurance Program to protect farmers' production investments, rather than direct subsidy payments.  This has placed the risk management decision making directly in the hands of farm owners.  We expressed our support for this strategy but stressed the need for the implementation process to consider the unique attributes of Northeast agriculture to ensure that the Northeast maintains a strong agricultural industry.

Other issues addressed included the need to monitor the Food Safety Modernization Act rulemaking and implementation process, administered by the FDA.  We urged our representatives to get involved if the FDA proposes regulations which are inflexible and do not allow sufficient time for farms to comply as this could have significant negative impact on our members' farms.  We also asked our representatives to monitor the EPA's actions related to the expansion of their jurisdiction under the Clean Water Act to ensure that members' farms are not negatively impacted by overly onerous EPA regulation.  Each office was provided with an informational packet which included a Business Profile, a Public Policy Statement and information about our most recent FarmStart investment.

While in DC the group also visited with Jeff Shipp, Jennie Materio and Robbie Boone of the Farm Credit Council and Todd Van Hoose of CoBank.

Q2 Financial Results

What a wonderful summer we have had so far!  Yankee’s second quarter financial results are now available and we can announce that we had a good quarter.  Favorable net income resulting from increased net interest income and other income were offset by increases in the provision for credit losses and operating expenses.  The balance sheet shows that loans were down from year-end, and from the previous quarter.  The quality of the loan portfolio remains strong and is expected to remain that way in the foreseeable future.  Good members taking advantage of the favorable milk prices, growing conditions and weather are a primary reason for these good results.

Quarterly net income for Yankee was $2.0 million, a decrease of $154 thousand over the same period in 2013. The most significant factor driving the decrease was an increase of $424 thousand to the provision for credit losses.  This was partially offset by an increase other income of $205 thousand over the same period in 2013.

For the first six months of 2014, net income was unchanged from 2013 at $.4 million.  Net interest income increased 8 percent to $7.3 million.  There was a provision for credit losses of $752 thousand through the second quarter of 2014, as compared to a provision of $161 during the same period of 2013.  Other income increased $324 thousand, primarily due to an increase in income from patronage refunds from CoBank, ACB and income from fees for financial services.

Loans held by the Association at June 30, 2014 were $401.9 million, down 2.8 percent from year end.  The loan portfolio continues to be concentrated in the dairy industry with 51 percent of loan invested in dairy businesses.  The second largest concentration is timber, with 14 percent of loan volume at quarter end.

Credit quality across Yankee’s loan portfolio remained strong during the quarter and well within the risk-bearing capacity of the Association. At quarter-end 0.8 percent of the Association loans were classified as nonperforming, unchanged from the previous quarter and from year end.  There were loan charge-offs of $19 thousand, but no recoveries in the quarter.  The Association’s capital position remains strong.

Click here for the full quarterly Report to Shareholders.

Middlebury Office Construction Update

Its been a couple of weeks since the last post, and things are progressing quickly.  Frost walls were poured and then all the "stuff" that goes under the cement pad was installed. 

The pad was poured last week.  Boy, did things then go fast!!  Walls went up on Monday and Tuesday.

2015 Calendar Photo Contest

We hope you had a chance to see our 2014 calendar, we proud of it and appreciate the many folks that took time to submit pictures!  We would like to ask for your help with creating another photo calendar for 2015.

Here are some ideas of what we would like to see:

·         Photos that show multi-generations.  We pride ourselves on building relationships that last generations & would love pictures of generations working together

·         Planting, timber, irrigation, livestock or harvest scenes

·         Industry shots of vineyard, timber operations or farms, maple operations, etc.

·         Action of fun shots in the fields, forests, barns, etc.

·         Seasonal photos, such as holiday decorations, 4^th of July events, pumpkins, winter scenes, etc.

·         Country fairs, roadside markets or farmers markets

·         4-H or FFA events

·         Classic photos from the past

·         Surprise us!

Guidelines:

·         Photo must be taken in our territory (Vermont; Clinton and Essex Counties in New York; Coos, Grafton, Sullivan or Cheshire Counties in New Hampshire);

·         Photos should have horizontal orientation

·         Digital photos of 1 megapixel or higher are preferred but we will accept print photos also.  We love variety so color, black and white, etc.  will all be considered.

·         Entries must be accompanied by this form from our website, or contact Ruchel at 800-639-3053 to request a form. 

·         Images become the property of Yankee Farm Credit, print photos that are chosen as winners will be copied and the originals returned, digitals will not be returned. 

·         Parties submitting photos certify that they have permission of all individuals shown in each photo and all individuals owning property shown in each photo.

Deadline to submit a photo has been extended to August 31, 2014.  We’ll choose 13 photos from the submissions for cash prizes and will notify winners by October 17, 2014. 

Please note:  Any submissions to the photo contest may be made public by use in our calendar, on our website or on our Facebook page.