Yankee Farm Credit extends support to members

Yankee Farm Credit

Continues to monitor situation, taking precautions

Amid concerns about the COVID-19 outbreak, Yankee Farm Credit is committed to ensuring that we can continue to provide consistent access to the credit you need, as well as business services such as consulting, tax preparation, payroll, recordkeeping, crop insurance and appraisals.

We continue to monitor the situation and are taking precautions to safeguard the health and safety of our members, employees and the rural communities we serve. Although our offices remain temporarily closed, our employees are continuing to work remotely to ensure our core functions are maintained while practicing social distancing. Borrowers are encouraged to use AccountAccess to manage their accounts.

Consistent Credit

Yankee will work to support borrowers who are experiencing financial stress due to the COVID-19 pandemic.

To ensure uninterrupted access to member lines of credit, Yankee is extending the commitment expiration dates on lines of credit loans expiring in March, April, May and June by three months. You will receive a letter in the mail if your line of credit is within this category.

For qualified credit customers, Yankee will offer:

  • Streamlined access to new loan funds.
  • Extended repayment terms.
  • Comprehensive restructuring of loans in certain circumstances.

Please contact your loan officer to discuss these options.

Free Consulting

Yankee Farm Credit will provide free consulting services for members who request assistance as a result of the COVID-19 pandemic. Yankee has an experienced team of consultants with a wide range of expertise, including;

  • Short-term budgeting and cash flow management.
  • Long-term financial planning.
  • Financial systems records review.
  • Human resources management.
  • Marketing.
  • Fraud prevention and internal controls.
  • Operating systems and standard operating procedures.

Please call Joanna Lidback our Business Consultant for more information at 802-735-5618 or email [email protected].

Young, Beginning, Small and Veteran (YBSV) Farmers

Tuition reimbursement is available to young and beginning farmers for programs offered by the Vermont, New Hampshire and New York Extension services.

Discounts for record keeping, payroll and income tax preparation services are also being offered to YBSV farmers during the first two years of participation. YBSV farmers receive a 50 percent discount during their first year and a 25 percent discount during their second year of enrollment in these services. Additionally, recordkeeping software will be provided to YBSV farmers at no cost so long as the farmer enrolls for a minimum of four quarterly two-hour billable meetings with a member of our Business Services staff.

Call your local office for more information about these programs.

White River Junction: 802.295.3670, Middlebury: 802.388.2692, St. Albans: 802.524.2938, Derby: 802.334.8050, Chazy, NY: 518.846.7330

Enhanced Communications
To maintain an uninterrupted flow of communications with our members, we are sending periodic email updates to those of you who have given us your email addresses. We are also using social media to share information. If you would like to be added to our email list, please call your loan officer or business services representative to ensure we have your updated contact information. And be sure to follow us on FacebookLinkedIn and Twitter.

The team at Yankee Farm Credit remains committed to supporting of the agricultural and forest products industries of Vermont, New Hampshire and New York during this challenging time. Please know that we are just a phone call or email away if you have questions or concerns.

About Yankee
Yankee Farm Credit is a member-owned cooperative which provides loans and financial services to farmers and other rural customers. Yankee is an agricultural credit association (ACA) within the national Farm Credit System. Yankee serves all of Vermont, four counties in New Hampshire (Cheshire, Coos, Grafton and Sullivan) and two counties in New York (Clinton and Essex).

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