We Finance Dreams…
Being raised in a farming community and having grandparents who farmed and a dad who sold farm equipment his entire life, I realized how important it was to have a place that you could rely on when times were tough. If you had a great year, then you probably still ended up in the “red” when it came time to put pen to paper. But, when your crop didn’t produce or a disease took the whole crop, it could have devastating outcomes. A farm’s land, crops, and livestock is usually their sole source of income. It usually isn’t just the farmer and his spouse that have to live on the farm and it’s resources, its their children and their children’s children and, most often, a hired hand. That’s why Central Texas Farm Credit, ACA has been such an instrumental part of the farmer’s life.
Central Texas Farm Credit, ACA has been lending money to people in rural America for more than 90 years. They loan money on everything from long term financing on farm, ranch, and recreational properties to short and intermediate term financing on purchasing your livestock, equipment purchases, and other numerous loans for all your agricultural needs.
There are six lending offices located in Comanche, Coleman, Haskell, Brownwood, Brady, and San Angelo that serve 19 Central Texas counties. The Comanche office is run by Chief Credit Officer Travis McKinney who has worked for the Farm Credit System since 2000 and Credit Analyst Associate Jessica Railsback. They pride themselves on being very efficient and thorough on each loan and that their borrowers are satisfied with their overall experience.
Let me explain a little about who and what Central Texas Farm Credit, ACA is. They are a locally operated, cooperatively owned business which means they are supervised by a board of directors that are elected by the borrowers. Each of the borrowers have an ownership interest in the association. They are able to share their financial success with their customers. When someone takes a loan, they become an owner through the purchase of stock equal to two percent of their loan amount or $1,000, whichever is less.
They offer a variety of different types of loans such as farm and ranch, recreational property, real estate improvements, agribusiness facility, and operating loans. The terms of each loan depends on if the borrower is looking for a long term or short term loan. Repayment plans are anywhere from 1 to 30 years with payment options due monthly, quarterly, semi-annually, or yearly. The initial stock purchase reduces this repayment cost through the Association dividends disbursed as part of the patronage refund program. Central Texas Farm Credit, ACA has given back in excess of $40 million to the borrowers and, in return, has made some great deductions on the total cost to the borrowers.
So, the next time you are in the market for some good ranch land to start that dream of being a cowboy, you just need a fun relaxing place to kick off your boots and relax, or you’re ready to start your own herd of livestock, then remember to give Travis and Jessica at Central Texas Farm Credit, ACA a call. Where caring for rural America is what they do.