A Carolina Farm Credit Member Publication Issue 2 | 2015

Leader
A Carolina Farm Credit Member Publication
Issue 2 | 2015
In this issue
President’s Message . . . . . . . . . . . . . . . 1
Director Elections . . . . . . . . . . . . . . . . . 1
Plant Sciences Initiative . . . . . . . . . . . . . 2
Photo Contest Winners . . . . . . . . . . . . . 3
#FarmerStrong Instagram Contest . . . . . . 3
Carolina Farm Credit Sponsors
Iredell County Farm Tour . . . . . . . . . . . . 4
Roadside Cleanup . . . . . . . . . . . . . . . . 5
2015 Summer Interns . . . . . . . . . . . . . . 5
Happy 99th Anniversary, Farm Credit:
A Look Back as We Look Ahead . . . . . . . . 6
Five Questions About Long-term Care . . . . 7
Food Manufacturing Task Force . . . . . . . . 8
Roxoboro Office Open House . . . . . . . . . 8
Service Awards . . . . . . . . . . . . . . . . . . 9
Farm Credit Sponsors “A Chef’s Life”
on PBS . . . . . . . . . . . . . . . . . . . . . . 10
FFA Donation . . . . . . . . . . . . . . . . . . 10
BOARD OF DIRECTORS:
Mark A. Bray, Chairman, Lawsonville
L. Kim Starnes, Vice-Chairman, Salisbury
John M. Barnard, Statesville
E. Bernard Beck, Seagrove
W. Rex Bell, Statesville
David M. Coltrane, Pleasant Garden
Susie J. Gambill, Sparta
Joseph A. Lail, Shelby
Clark M. Newlin, Haw River
Thomas E. Porter, Jr., Concord
Tony L. Ragan, Sanford
D. Kaleb Rathbone, Waynesville
Lewis E. Smith, Lincolnton
Vickie N. Smitherman, East Bend
Dr. Alton Thompson, Summerfield.
The Association’s Annual and Quarterly reports
are available upon request free of charge on our
website — CarolinaFarmCredit.com — or by
calling 800-521-9952 or writing ­­­­­­­­­­­­­­­­­Christopher
H. Scott, Treasurer; Carolina Farm Credit,
ACA; P.O. Box 1827; Statesville NC 28687.
The Annual Report is available within 75 days
after the end of the fiscal year and the Quarterly
Report within 40 days after the end of each
fiscal quarter, on our website.
President’s Message
Fall is a time to assess how the year has gone thus far and to begin planning
for the next year. Carolina Farm Credit is having a successful year again in
2015. Our business planning process has started and we are excited about
serving our membership for years to come. Our planning process involves our
entire staff and board of directors, as well as input from outside agricultural
and financial professionals. We find the perspective from someone outside
our organization very helpful. I encourage you to solicit outside feedback as
well as begin planning for the next year for your operations. Planning is an
important part of operating any business. As the old proverb says, “Dig the
well before you are thirsty.”
Vance C. Dalton, Jr.
Fall also brings about election for your Carolina Farm Credit directors.
You should have received your 2015 Annual Meeting Information Statement in August and ballots within
the last week. Take time to complete the ballot and return by mail. Having a stockholder-elected board
of directors is a vital part of being a cooperative. This is your opportunity to have a say in how your
cooperative is governed. Polls close on Oct. 1.
We recently made the decision to exit the Crop Insurance sales business, effective Aug. 31. This
change will allow us to focus on our core business of lending. The deciding factor was our ability to
provide a customer experience of which we could be proud. We feel we can better serve our customers
by referring them to an agency with the staff and expertise to provide the products that give you the
most benefit. If you are a current crop insurance customer, you should have received correspondence
from me that explains the process of moving your insurance to a different agency.
It was our good fortune to have three great interns who worked in various branches throughout the
summer. Ryan High, a rising senior at Appalachian State University, worked in our Pilot Mountain and
Yadkinville branches. McKayla Newsome, a rising junior at NC State University, worked in our Rural
Hall branch, and Brittany Spann, a rising senior at NC State University, worked in our Siler City branch.
If you have not had a chance, take time to read their blogs that are posted on our website chronicling
their time with us. These three individuals have bright futures ahead of them and we are grateful we got
to spend the summer with them.
Thank you for allowing us to be your lender and provider of financial services. It’s a pleasure to
serve agriculture and the people in this industry! n
Director Elections
September 10
Ballots mailed
u
October 1
Polls close
u
October 2
Votes counted and
results announced on
carolinafarmcredit.com
u
L. Kim Starnes
Region 4
W. Rex Bell
Region 3
Plant Sciences Initiative
The Farm Credit Associations of North Carolina
are proud to announce their new partnership with
North Carolina State University’s College of Agriculture and Life Sciences. Collectively, North
Carolina’s Farm Credit organizations – AgCarolina
Farm Credit, Cape Fear Farm Credit and Carolina
Farm Credit – have pledged $250,000 in support
of the North Carolina Plant Sciences Initiative.
NC State University’s College of Agriculture
and Life Sciences has embarked on an ambitious
initiative to address directly the challenge of
feeding the growing world population, while
creating jobs and growing North Carolina’s
economy. The initiative calls for collaborative thinking from the best minds in industry,
academia, government and the nonprofit sector,
as well as collaborative action from the leading
organizations in each sector. It also calls for crossdisciplinary thinking, world-class facilities and
significant public and private investment that is
expected to yield a powerful return for investors
and society.
“By contributing to the Plant Sciences
Initiative, the Farm Credit Associations of NC are
demonstrating their confidence in and support of
agriculture in North Carolina,” said Vance Dalton,
Carolina Farm Credit CEO. “This initiative stands
to cement North Carolina as a global hub for
advanced plant sciences.”
The ultimate goal of the initiative will be to
increase agricultural yields and provide a major
economic impact for North Carolina in the form
of increased national and global prominence
as a center of agricultural production. A major
component of the Plant Sciences Initiative will be
the construction of a state-of-the-art Plant Sciences
Research Complex on NC State’s Centennial
Campus. Including the recent commitment from
North Carolina’s Farm Credit institutions, nearly
$8.5 million has been raised in support of the
project.
Dr. Richard Linton, Dean of the College of
Agriculture and Life Sciences said, “The new
Plant Sciences Research Complex will serve to
build upon and reinforce North Carolina’s strong
momentum in life sciences and biotechnology
development, while at the same time developing
innovations and technologies that will enhance
the economic success of North Carolina’s farms
and the value-added industry chain that depends
on high-productivity agriculture.” n
“By contributing to the Plant Sciences Initiative, the Farm Credit Associations of NC are demonstrating their
confidence in and support of agriculture in North Carolina. This initiative stands to cement North Carolina as a
global hub for advanced plant sciences.”
~Vance Dalton, Carolina Farm Credit CEO
2
Photo Contest Winners
Carolina Farm Credit’s 2015 photo contest winners have been chosen.
The finalists with the most online votes are:
1st place ($300): Amanda Markham | Catawba, NC
2nd place ($200): Jonathan Young | Danbury, NC
3rd place ($100): Chris and Elizabeth Crump | Belews Creek, NC
#FarmerStrong
Instagram Contest
Thank you to everyone who submitted photos! Winners will be announced soon!
3
Carolina Farm Credit Sponsors Iredell
County Farm Tour
Agricultural diversity in Iredell County was on
display as 33 people participated in the fourth
annual Farm Tour sponsored by Carolina Farm
Credit and organized by the county’s Cooperative
Extension office and Statesville’s Chamber of
Commerce. The tour made stops at five local
agribusinesses. The tour was led by Nancy Keith,
Director of the Iredell County Center of North
Carolina Cooperative Extension.
The five agribusinesses highlighted on the
tour were James River Equipment of Statesville
(tractor and equipment sales), Prevette Family
Farm (nursery, peaches, blueberries, blackberries),
Hunting Creek Farms (row crops, Clydesdale
horses, event center), Galliher Dairy (350-head
dairy farm), and A&J Honey Farm (honey, bees,
pollination). The tour also included lunch at
Hunting Creek Preserve. The diverse group of
farms highlighted what makes North Carolina
such a unique agricultural state. n
“Agriculture is Iredell’s number one industry,
providing an annual economic impact of $662
million while also accounting for 15 percent of
the county’s workforce. The industry supports
many agri-businesses and provides residents
with a vast array of ‘home grown’ products from
which to choose.”
~Brent Warren,
Carolina Farm Credit Loan Officer
4
Roadside Cleanup
Carolina Farm Credit employees recently took
the time to clean the length of road in front of
the Statesville Administrative Office. Twenty
employees worked one afternoon to pick up litter
on the side of Victory Lane in Statesville.
“Carolina Farm Credit and its employees
remain committed to serving the local communities in which we work and live. By taking pride in
our communities, we can help to enhance the way
of life in rural America,” said Vance C. Dalton Jr.,
CEO of Carolina Farm Credit.
Nearly a truckload of garbage was picked
up on the one-mile stretch from Old Mocksville
Road to the office on Victory Lane. n
2015 Summer Interns
Three new summer interns joined Carolina Farm
Credit at the Pilot Mountain, Siler City, and Rural
Hall branches.
Ryan High is a senior at Appalachian State
University, majoring in finance and banking. Ryan
has hopes of working in finance or investments; he
currently lives in Dobson and enjoys hunting, fly
fishing, and golf. He also enjoys playing his guitar
and creating original music. Ryan worked out
of the Pilot Mountain and Yadkinville branches.
Brittany Spann lives in Raleigh and is
working towards a degree in Plant and Soil
Sciences with an agronomic business concentration
from North Carolina State University. She
currently has an Associates of Applied Science
in Livestock and Poultry Management from
North Carolina State’s Ag Institute. Brittany
hopes to continue in agriculture after graduation
5
and would love to find a
position as a loan officer.
She enjoys anything
outdoors, including
farming, fishing, and
Ryan High
riding horses. Brittany
worked at the Siler City
branch.
McKayla Newsome is a junior at North
Carolina State University, majoring in animal
science and minoring in agricultural business
management. McKayla grew up on her parent’s
poultry and beef cattle farm and has been involved
in agriculture for as long as she can remember. She
has hopes of working in agribusiness and one day
having cows of her own. McKayla worked out of
the Rural Hall office.
Brittany Spann
McKayla Newsome
The interns helped with numerous items
during their time at Carolina Farm Credit,
including projects dealing with marketing and
employee engagement; they also blogged about
their experiences. Visit our Carolina’s Blog page
to read their blogs. n
Happy 99th Anniversary, Farm Credit:
A Look Back as We Look Ahead
As we enter Farm Credit’s 100th year and look
forward to the future, it’s also an opportunity to
pause and reflect on the milestones of the past –
and how those before us used those milestones
to imagine and shape the Farm Credit we know
today.
In 1942, when the Federal Land Bank System
turned 25, the United States had just entered World
War II, and Farm Credit was facing a big test
of its ability to support the communities of rural
America when they needed it most.
“25 Years!” proclaimed the editors of the
New Orleans Farm Credit News in April 1942.
“The banks are serving hundreds of thousands,”
they continued, “and in the troubled days to come
they will be solid anchors in the storm.” Over the
next three years, Farm Credit passed this important
test as it helped feed a nation at war.
The Federal Land Bank System’s next major
anniversary, its 50th in 1967, was in the midst of
very different times and inspired many to look
ahead and push for progress. Amid an economic
boom, leaders expressed the need to keep
American agriculture going strong. For example,
the Federal Land Bank of Omaha’s special Golden
Anniversary conference centered on the theme
“Facing the Future Together.”
“We’re not going to rest on past laurels,”
said bank president Thomas Maxwell Jr., “but
we’ll pull together as a team to serve agriculture
in the best possible manner in the years ahead.”
Farm Credit certainly had a lot to look
forward to. Over the next few years, the System
became fully borrower-owned and helped push
through new legislation that included special
lending for young and small farmers, providing
financially related services, financing non-farm
rural housing and revising eligibility requirements
to lend to more cooperatives.
Fast forward to 1992, the Federal Land
Bank’s 75th year, and change was again in the
air as Farm Credit was in the middle of a massive
restructuring effort.
“The future structure of the System is unclear
at this time,” said Don Neal, chairman of the
Federal Land Bank Association of Brady, “but
it has always been my belief that whatever form
we choose to present ourselves in, that we do it
together.”
As Farm Credit enters its 100th year, we
remember our past and look forward to supporting
rural communities and agriculture for many years
to come. n
7
6
Five Questions about Long-Term Care
1. What is long-term care?
Long-term care refers to the ongoing services
and support needed by people who have
chronic health conditions or disabilities.
There are three levels of long-term care:
• Skilled care: Generally round-the-clock
care that’s given by professional health
care providers such as nurses, therapists,
or aides under a doctor’s supervision.
• Intermediate care: Also provided by
professional health care providers but on
a less frequent basis than skilled care.
• Custodial care: Personal care that’s often
given by family caregivers, nurses’ aides,
or home health workers who provide
assistance with what are called “activities
of daily living” such as bathing, eating, and
dressing.
Long-term care is not just provided in
nursing homes—in fact, the most common
type of long-term care is home-based care.
Long-term care services may also be provided
in a variety of other settings, such as assisted
living facilities and adult day care centers.
2. Why is it important to plan for
long-term care?
No one expects to need long-term care, but
it’s important to plan for it nonetheless. Here
are two important reasons why:
The odds of needing long-term care are high:
• Approximately 70% of people will need
long-term care at some point during their
lifetimes after reaching age 65*
• Approximately 8% of people between ages
40 and 50 will have a disability that may
require long-term care services*
The cost of long-term care can be expensive:
For many, the cost of long-term care can be
expensive, absorbing income and depleting
savings. Some of the average costs in the
United States for long-term care* include:
• $6,235 per month, or $74,820 per year for
a semi-private room in a nursing home
• $6,965 per month, or $83,580 per year for
a private room in a nursing home
• $3,293 per month for a one-bedroom unit
in an assisted living facility
• $21 per hour for a home health aide
7
3.Doesn’t Medicare pay for longterm care?
Many people mistakenly believe that
Medicare, the federal health insurance
program for older Americans, will pay for
long-term care. But Medicare provides only
limited coverage for long-term care services
such as skilled nursing care or physical
therapy. And although Medicare provides
some home health care benefits, it doesn’t
cover custodial care, the type of care older
individuals most often need.
Medicaid, which is often confused
with Medicare, is the joint federal-state
program that two-thirds of nursing home
residents currently rely on to pay some of
their long-term care expenses. But to qualify
for Medicaid, you must have limited income
and assets, and although Medicaid generally
covers nursing home care, it provides only
limited coverage for home health care in
certain states.
4. Can’t I pay for care out of
pocket?
The major advantage to using income,
savings, investments, and assets (such as
your home) to pay for long-term care is that
you have the most control over where and
how you receive care. But because the cost of
long-term care is high, you may have trouble
affording extended care if you need it.
5. Should I buy long-term care
insurance?
Like other types of insurance, long-term
care insurance protects you against a specific
financial risk—in this case, the chance that
long-term care will cost more than you
can afford. In exchange for your premium
payments, the insurance company promises
to cover part of your future long-term care
costs. Long-term care insurance can help
you preserve your assets and guarantee that
you’ll have access to a range of care options.
However, it can be expensive, so before you
purchase a policy, make sure you can afford
the premiums both now and in the future.
The cost of a long-term care policy
depends primarily on your age (in general,
the younger you are when you purchase a
policy, the lower your premium will be), but
it also depends on the benefits you choose.
If you decide to purchase long-term care
insurance, here are some of the key features
to consider:
• Benefit amount: The daily benefit amount
is the maximum your policy will pay for
your care each day, and generally ranges
from $50 to $350.
• Benefit period: The length of time your
policy will pay benefits (e.g., 2 years,
4 years, lifetime).
• Elimination period: The number of days
you must pay for your own care before
the policy begins paying benefits (e.g., 20
days, 90 days).
• Types of facilities included: Many
policies cover care in a variety of settings
including your own home, assisted living
facilities, adult day care centers, and
nursing homes.
• Inflation protection: With inflation
protection, your benefit will increase by
a certain percentage each year. It’s an
optional feature available at additional
cost, but having it will enable your
coverage to keep pace with rising prices.
Your insurance agent or a financial
professional can help you compare long-term
care insurance policies and answer any
questions you may have. n
* U.S. Department of Health and Human Services,
December 1, 2014
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Roxboro Office
Open House
Food Manufacturing
Task Force
Carolina Farm Credit CEO Vance Dalton has recently been appointed
by Governor Pat McCrory to serve on the newly created North Carolina
Food Manufacturing Task Force. The task force is made up of 30 members
with experience in all aspects of food manufacturing, including farming,
transportation, packaging, processing, and economic development.
The task force will focus on developing a strategic business plan to
leverage existing activities in food processing and manufacturing; establishing
a statewide food processing and manufacturing organization; creating a plan
to develop a proactive industrial recruitment campaign for new business
development; and planning to foster the growth of food manufacturing
entrepreneurial endeavors, enhance development of innovative food products
and processes and provide sector-specific regulatory training and outreach.
“Being selected to serve on the Food Manufacturing Task Force is a great
honor. By working on this task force, we will not only be able to enhance
agriculture in North Carolina, but support and improve life in our rural
communities as well,” said Vance C. Dalton Jr., Carolina Farm Credit CEO. n
Carolina Farm Credit’s Roxboro branch hosted an open house event at their
newly renovated location at 607 Leasburg Road, Roxboro, NC.
The event featured a welcome and introduction of guests by Carolina
Farm Credit Regional Lending Manager Fred Pittard, invocation by Person
County Sheriff Dewey Jones, and special comments from Carolina Farm
Credit CEO Vance Dalton, Carolina Farm Credit Chairman of the Board Mark
Bray, Roxboro Area Chamber of Commerce Board of Directors Chairman
Derrick Sims, Roxboro City Councilman Mark Phillips, and Person County
Board of Commissioners Chairman Kyle Puryear. Special comments were
followed by a ribbon cutting ceremony.
The 2,00-square-foot office was renovated by MCT General Contractors,
Inc. in Monroe. The renovation included extensive upgrades and improvements to the inside of the office as well as a new metal pitched roof. The
project was started in October of 2014 and completed this March.
“The newly renovated building allows us to enhance customer service
and better meet the needs of our Person County customers,” said Vance C.
Dalton Jr., CEO of Carolina Farm Credit. n
Don’t miss
this year’s Carolina Meat Conference!
9
8
Service Awards
40 years:
10 years:
Franklin Rash, Corporate Lending Manager,
Statesville Administrative Office; and Kent
Whitaker, Special Assets Manager, Statesville
Administrative Office.
Jennifer Beeker, Branch Office Coordinator,
Mocksville; Carmen Church, Branch Office
Coordinator, Wilkesboro; Alyson Harbin,
Accountant, Statesville Administrative Office;
Jennifer Minton, Loan Officer, Statesville; Brandy
Swink, Branch Office Coordinator, Shelby; and
Rebecca Tarlton, Loan Officer, Monroe.
35 years:
Fred Pittard, Regional Manager, Yanceyville; and
Cindy Strader, Loan Officer, Brown Summit.
30 years:
Scott Green, Regional Manager, Wilkesboro; Kim
Haines, Corporate Loan Officer, Asheville; Kathy
McCain, Branch Office Coordinator, Carthage;
and Terry Peterson, Corporate Loan Officer,
Burnsville.
25 years:
Debra Brandon, Loan Officer, Roxboro; Kelly
Bumgarner, Loan Officer, Taylorsville; Wanda
Harris, Loan Officer, Rural Hall; Andrea Rorie,
Loan Assistant, Monroe; and Donna Silvers, Loan
Officer, Waynesville.
20 years:
Bridget Jenkins, Loan Assistant, Yadkinville;
Ronda Johnson, Administrative Assistant,
Statesville Administrative Office; Kimberly
Shoemaker, Executive Assistant, Statesville
Administrative Office; and Shannon White,
Branch Office Coordinator, Taylorsville.
Recognized
Directors were:
10 years:
Myrtice Trent, Credit Administrator, Asheville
Administrative Office.
John Barnard, Iredell County; Bernard Beck,
Randolph County; Dr. Alton Thompson, Guilford
County.
15 years:
5 years:
Stacey Barker, Loan Officer, Sparta; Cheryl Dyck,
Loan Assistant, Concord; Allan Harrington, Loan
Officer, Taylorsville; Amy Jamerson, Branch
Office Coordinator, Marshall; Beth McCraw,
Branch Office Coordinator, Pilot Mountain;
Sarah Rachels, Human Resource Manager,
Statesville Administrative Office; Nickie Teal,
Loan Specialist, Asheboro; and Brent Warren,
Loan Officer, Statesville.
9
5 years:
David Coltrane, Randolph County; Eddie Smith,
Lincoln County; Vickie Smitherman, Yadkin
County. n
Farm Credit Sponsors
“A Chef’s Life” on PBS
A Chef’s Life is a half-hour documentary and
cooking series that takes viewers inside the life
of Chef Vivian Howard, who, with her husband
Ben Knight, left the big city to open a fine dining
restaurant in Kinston, N.C.
The show can be found on your local PBS
station.
Sweet Potato and Turkey
Shepherds Pie
Makes one 9x12x13 casserole
Sweet Potato Parmesan Topping
4-5 medium sweet potatoes
1/4 cup brown sugar
1/4 cup butter
1/2 teaspoon salt
2/3 cup grated Parmigianno Reggiano
Turkey Filling
2 pounds ground turkey
3 tablespoons olive oil, divided
2 cups diced yellow onion
2 teaspoons salt, divided
3 cups quartered button mushrooms
1 tablespoon minced garlic
1 teaspoon ground chipotle
2 teaspoons smoked paprika
2 teaspoons turmeric
2 teaspoons ground cumin
8 oz tomato sauce
8 oz water
10 oz frozen spinach
Make the Topping:
Peel the sweet potatoes, and cut them into rough
2 inch chunks. Place the potatoes in a medium
saucepan, and cover them with water. Bring them
up to a boil, reduce to a simmer and cook until the
potatoes are very tender.
Drain the potatoes and return them to the pan.
Place the pan over low heat and add the butter,
brown sugar and salt. Using a fork or device of
your choice, mash the potatoes so that they are
nearly smooth and the butter and sugar are fully
incorporated. Set aside.
Make the Filling:
In a 12 inch saute pan or dutch oven, heat 1
tablespoon of olive oil over medium heat. Add
the onion and 1 teaspoon of salt. Sweat for about
five minutes, or until the onions are translucent.
Push the onions to the edge of the pan and force
them into a tight mound.
Add the remaining olive oil and the
mushrooms. Allow them to sit and caramelize
in the hot pan for about one minute. Resist the
urge to shake the mushrooms around as you are
trying to develop flavor by letting them brown.
After two minutes, stir together the onions and
the mushrooms, making sure you scrape up any
browned bits from the bottom of the pan.
Transfer the onion, mushroom mixture to
a plate, and add the final tablespoon of olive oil
to the pan. Add the turkey, and begin breaking
it up with a spatula. Season the turkey with the
remaining salt, garlic, chipotle powder, paprika,
turmeric and cumin. Allow the turkey to brown
and the spices to toast. This will take about
4 minutes.
Stir in the onion mixture, tomato sauce,
spinach and water. Let this all cook down until it’s
like a very thick and saucy. Remove from the heat.
Assemble and Bake:
Preheat your oven to 350. Spread the turkey
mixture onto the bottom of a 10x12 inch baking
dish. Spoon the sweet potato over the top so that
it’s in an even layer. Sprinkle the sweet potato
with the cheese.
Bake for 1 hour uncovered. Allow it to cool
for about 10 minutes before serving. My kids like
this on its own, but I generally eat it with a green
salad on the side for balance. n
FFA
Donation
Carolina Farm Credit, along with
Ag Carolina Farm Credit and Cape
Fear Farm Credit, recently donated
$2,584 to the North Carolina FFA.
Farm Credit Associations of NC
employees raised $646 and each
Association matched the employee
donations dollar-for-dollar to bring
the total raised to$2,584. These
funds were presented to the FFA at
their statewide convention held in
Raleigh on June 17.
“As an alumnus of FFA, this
donation is very meaningful. It
represents an investment in the
future of North Carolina agriculture
by those of us currently working in
the industry,” said Sarah Rachels,
Carolina Farm Credit vice president
of Human Resources. “This is just
one example of the many ways
the Farm Credit Associations of
NC support agriculture in our
great state.”
10
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