September interest rates
Interest rates for loans approved in September are:
2012 Crop Marketing Assistance Loans (unchanged from August)
Farm Storage Facility Loans (down from August)
--7-year -- 1.875%
--10-year -- 2.500%
--12-year -- 2.875 %
Preparation for October payments
FSA will be issuing a lot of payments next month; the annual rental payments for the Conservation Reserve Program (CRP), and the final direct payments for the 2011 Direct and Counter-Cyclical Program (DCP).
To make this process as smooth as possible, please make sure we have your current addresses and for our direct deposit customers, your current banking information on file.
And for those who are not on direct deposit and would like to be, it is not too late.
Stop by the office, or call, and ask for the direct deposit sign-up form.
We will ask you for a voided check that contains your banking information, or you can take the sign-up form to your bank and have them fill in the information.
The advantages to Direct Deposit are:
--Payments are electronically deposited in your account within one to two business days from the date issued.
--Payments won't be lost in the mail.
--You don't have to worry about delivering the check to the bank once it's received in the mail.
--You receive a payment statement for each payment deposited in your account. By the time you receive the statement, the money is already in the bank.
--For questions on direct deposit or program payments, contact your local FSA office.
CRP mid-contract management
--There are still several CRP participants that have not certified completion of mid-contract management activities.
--The deadline is September 30, 2011.
CRP managed haying and grazing
--Those CRP participants who requested and were approved to perform managed haying or grazing must certify the amount of hay harvested or areas they grazed by September 30, 2011.
--This option is available on many CRP practices, requires prior approval from the County Committee, and a 25% payment reduction.
--Livestock must be removed by September 30 and bales of hay must be removed October 30, 2011