End Rows for Sept. 10, 2013

Friday, September 13, 2013

Important September deadlines

There are two important September deadlines for the Direct and Counter-Cyclical Program (DCP).

Producers who have either not yet enrolled in DCP or have not yet signed their DCP contracts must do so by close of business Sept. 16, 2013.

And producers with any succession-in-interest changes made to an operation that affect interest in base acres since the current DCP contract was signed, must be reported to the local FSA office by close of business Sept. 30, 2013.

Changes that qualify as a succession-in-interest include:

-- sale of land

-- change of operator or producer, including an increase or decrease in the number of partners

-- foreclosure, bankruptcy or involuntary loss of the farm

-- change in producer shares to reflect changes in the producer's share of the crop(s) that were originally approved on the contract

Failure to report a succession-in-interest can result in contract termination and a loss of program benefits for all producers involved.

Producers should be careful not to let their DCP contracts and other important FSA business slip through the cracks.

If needed, DCP contracts can be faxed or scanned and emailed between the producer and the county office.

Further information on DCP is available at local FSA offices or on FSA's DCP website at: www.fsa.usda.gov/dcp.

September interest rates

The interest rates for September are as follows:

* 1.125 percent for commodity loans

* 2.000 percent for farm storage facility loans with 7-year loan terms

* 2.625 percent for farm storage facility loans with 10-year loan terms

* 2.875 percent for farm storage facility loans with 12-year loan terms

* 1.875 percent for farm loan operating loans

* 4.000 percent for farm loan farm ownership loans

* 1.500 percent for farm loan farm ownership down payment loan

Direct deposit available

As you know, CRP, DCP and ACRE program payments will be issued after Oct. 1.

Producers who receive their program payments by direct deposit have several advantages over those who receive a check in the mail.

You will receive your money faster than by regular mail. By the time you receive the payment statement, your money is already in the bank.

You don't have to make a special trip to the bank to deposit your money

You don't have to worry about misplacing a check or someone stealing it from your mailbox.

There is still time to sign up for direct deposit before payments are issued next month.

All we need is a copy of a voided check from your current account (it can be faxed or emailed).

Or you can stop by any FSA office and pick up a form to take to your bank to fill out.

You can also have more than one direct deposit account if you need to keep payments from certain farms or certain programs separate from others.

Contact any FSA county office for more details on direct deposit.

If you're already on direct deposit, make sure we have your current banking information on file.