this issue - agcreditonline.com · • fresh water shrimp ... david c. sparrow. ag credit leader...

In This Issue

In This Issue• Shaker Country Fair ............5• Fresh Water Shrimp..........8-9• I Am Old Glory ..................11• Your Financial House ........14

In This Issue• Shaker Country Fair ............5• Fresh Water Shrimp..........8-9• I Am Old Glory ..................11• Your Financial House ........14

2 • Central Kentucky Agricultural Credit Association

Central Kentucky Agricultural Credit Associationloan agreements stipulate that borrowers obtain and maintaininsurance on property pledged as security for loans with theassociation named as mortgagee or loss payee as appropriate.

This notice is a reminder that the minimum amountof coverage required to be maintained is the lesser of yourloan balance(s), the actual cash value of the property, thereplacement cost of the property or the amount stipulated byyour loan officer. Since the amount required could be lessthan the amount for which the property can be insured, youare encouraged to consider higher limits where applicable toadequately protect your equity interest in the property.

If the property securing your loan consists ofimproved real estate, unless otherwise advised, at a minimumyour policy must insure against the following perils: Fire andlightening, wind, hail, aircraft or vehicle damage, riot or civilcommotion, explosion, smoke damage, water damage (otherthan flood), falling objects, weight of snow, ice or sleet andvandalism. Loss or damage from flooding is also required ifyour loan was made after October 4, 1996, and at the time theloan was made the property was located in a governmentmandated Special Flood Hazard Area and flood insurance wasavailable.

If the property securing your indebtedness consists ofpersonal property including vehicles, machinery orequipment, in addition to the causes of loss cited in thepreceding paragraph, the property must also be insuredagainst theft, and where applicable, such as with mobilemachinery and equipment, collision and upset.

If your current coverage does not conform to theserequirements, please contact your insurance representativeand effect the necessary changes to assure your coverage doescomply with these requirements. Please contact your localCentral Kentucky Ag Credit representative if you have anyquestions or comments.

Insurance Protection for YourProperty; Wise and Necessary

CentralKentuckyAg CreditLarry K. StonePresident

Robert G. AndersonEditor

Board ofDirectorsJames L. MayChairman

James W. WaggenerVice Chairman

James A. Lyons

Oscar Penn

Jerry Rankin

David C. Sparrow

Ag Credit Leader • 3

The Farm Credit Administration does notrequire the association to distribute its quarterlyfinancial reports to stockholders. However, copiesof its complete report are available upon request.The shareholders’ investment in the association ismaterially affected by the financial condition andresults of operations of AgFirst Farm Credit Bankand copies of its quarterly financial report are

available upon request by writing Patti Trotter,AgFirst Farm Credit Bank, P.O. Box 1499,Columbia S.C. 29202-1499.

Address changes, questions or comments should bedirected to Central Kentucky Agricultural CreditAssociation by calling 1-859-253-3249, or by writing P.O. Box 1290, Lexington, KY 40588-1290.

LEADER is published quarterly for stockholders, friends and business associates.

�Therefore encourage one another and build each other up.� �1 Thessalonians 5:11

Photo by R

obert Anderson

Ame

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PRINTED WITH

SOY INK


Lincoln County is Site for YoungFarmer Tours

The Lincoln County Young Farmer Association Tour took placeJuly 20-21, and was an event that attracted 200 young farmers andtheir spouses. John Gossage of Ag Credit’s Stanford office said theevent was a huge success and the quality of farm tours wasoutstanding.

Headquarters hotels for the two-day event were the Hospitalityand Hampton Inns in Danville. Entertainment on July 20 featured anevening at Danville’s well-known Pioneer Playhouse.

The Young Farmer Tourin Lincoln is indicative ofevents that are producedthroughout Central Kentuckyto assist both young andestablished farmers to farmbetter, with more profit and tostay abreast of new methodsand technology. Informationprovided by Lincoln CountyJudge Executive R. W. Gilbertindicates that Lincoln Countycontains 1,400 farms thatgenerate nearly 35% of thecash economy, for a total of$45 million in gross annualfarm income.

Ag Credit’s vice presidentRobert Anderson alsoexplained that Young Farmeractivities are very important tothe association. “We offerpreferred lending programs foryoung farmers in cooperationwith the Farm ServiceAdministration,” saidAnderson. He explained thatthe program helps young,beginning and small farmers who are engaged in beginning farmoperations. “Of course”, said Anderson, “Ag Credit’s financialservices then go on to meet the needs of farmers as their farmingenterprises grow and mature.”

Young farmer participants in the July event could choose toursthat are best suited their needs. A total of 12 farm tours were offered,each carefully selected to provide specific farming information.

CentralKentuckyAg CreditBranchOfficesDanville OfficeHighway 127 BypassDanville, KY 40422859-236-6570 1-800-589-4261

Lebanon OfficeCampbellsville RoadLebanon, KY 40033270-692-44111-800-264-0402

Lexington Office640 South BroadwayLexington, KY 40508859-252-47171-888-820-3270

Paris Office1440 High StreetParis, KY 40361859-987-43441-800-613-4292

Richmond Office2150 Lexington RoadRichmond, KY 40475859-623-16241-888-820-3221

Stanford OfficeU.S. Highway 27Stanford, KY 40484606-365-7500 1-800-467-0039

Farm TourChoices• Akers Farm, LTD—

Beef cow/calf land forages demonstration• Englewood Farm—

Laura’s Lean Beef operation• Holtzclaw Farms—

Backgrounding and corn grazing• Maple Swamp Farm Equestrian Facility—

Horse training facilities• McAninch Farms—Dairy• East Anderson Hardwoods, LLC—

Hardwood sawmill and dry kiln operation• M. Pence & Son—

Cow/calf operation• Elliott Farms—

Tobacco and backgrounding• Brown Farm—

Cow/calf, alfalfa and machinery• Jeff Jones—Shrimp farm• Pleasants Farm—Beef• Shelton’s Greenhouses—

Wholesale bedding plants

Country FairAt Shaker Village

Shaker Village of Pleasant Hill is thelargest historic community of its kind in America.The preservation and interpretation of 33 original19th century buildings and 2,800 acres of farmlandis made possible by income generated from visitorservices. Located 25 miles southwest of Lexingtonand seven miles east of Harrodsburg on Highway68, Shaker Village is open to the public every dayof the year except December 24-25.

Ag Credit took special interest in the Livestock Exhibition in the historic farm area and with theHeirloom Plant Exposition at the Pleasant Hill Country Fair.However, the Ag Credit team also tended to the thirst ofvisitors. Harry Young, manager of the Lebanon Ag Creditoffice, is shown pouring cool apple cider for thirsty visitors.Over 2,800 glasses of the tasty cider was served during thefair.

Deborah Larkin, village herbalist at the Shaker Villageof Pleasant Hill, was photographed while discussingheirloom vegetables with Michael Best, a judge at thecountry fair. Gardeners competed with their fine produce,reproducing a harvest-time event with the flair andexcitement of an old-time country fair.

The Pleasant Hill Country Fair is produced by the Shaker Village of PleasantHill, and the fair attracts thousands of visitors annually. Ag Credit teamed upwith the Village to help recreate the popular 19th century event duringSeptember 23-24. This photo is reminiscent of harvest work during the1800’s.

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As an Ag Credit borrower, youbelong to an elite organization. AgCredit is a cooperative that sharesassociation profits with its membersprimarily through patronage refunds.Moreover, the Ag Credit Board ofDirectors is elected by, and comprisedof, associationmembers.

Your association isa credit cooperativethat extends loans andoffers financiallyrelated services to itsmembers. When youobtain an Ag Creditloan you become amember of your local Ag Creditcooperative, which is an AgriculturalCredit Association (ACA).

A cooperative operates to serve theneeds of its members. That is AgCredit’s business mission. Associationowners and borrowers are the samepeople … and they be-nefit fromreliable and professional financialservice, while sharing in associationprofit according to the amount ofbusiness they conductwith the association.

Ag Credit financialservices are available tofull- and part-timefarmers and ruralresidents. And, theprofessional staff oflocal Ag Credit officesare pacesetters inhelping rural CentralKentucky to grow andprosper … right at yourown back door.

Sharing andgrowing through AgCredit is what goodfinancial service is allabout. What a concept!

What A ConceptLLooaannLineIntroducing

Around the clock accessto your Ag Creditloan information.

To use LLooaannLine dial toll-free1-877-LLooaannLine( 1 - 8 7 7 - 5 6 2 - 6 5 4 6 )

Press [1] for EnglishPress [2] for Spanish

To access the Main Inquiry Menu:•• EEnntteerr yyoouurr SSoocciiaall SSeeccuurriittyy NNuummbbeerr (personal loans)

orTTaaxxppaayyeerr IIddeennttiiffiiccaattiioonn NNuummbbeerr (business loans)

•• EEnntteerr yyoouurr PPeerrssoonnaall IIddeennttiiffiiccaattiioonn NNuummbbeerr ((PPIINN))((This confidential number was recently mailed to you.))

(Note: Pressing [9] at any time while using LLooaannLine willreturn you to the Main Menu).

Main Inquiry Menu IIff yyoouu kknnooww yyoouurr llooaann nnuummbbeerr((ss)):: PPrreessss [[11]]

Enter your 8 or 10 digit loan number and PPrreessss [[##]]

LLooaann IInnqquuiirryy MMeennuu•• PPrreessss [[11]] for balance and interest rate information•• PPrreessss [[22]] for payment information

IIff yyoouu ddoo nnoott kknnooww yyoouurr llooaann nnuummbbeerr((ss)):: PPrreessss [[22]]for a listing of loan number(s)

•• PPrreessss [[11]] to select the loan•• PPrreessss [[22]] to repeat the loan•• PPrreessss [[33]] to hear the next loan

LLooaann IInnqquuiirryy MMeennuu•• PPrreessss [[11]] for balance and interest rate information•• PPrreessss [[22]] for payment information

TToo cchhaannggee yyoouurr PPIINN:: PPrreessss [[33]]

IIff yyoouu hhaavvee aannyy qquueessttiioonnss,, ccoonnttaacctt yyoouurr bbrraanncchh ooffffiiccee..

Ag Credit Rural Home LoansMake Dreams

Come True!


Michael and Sarah Christian of Hustonville werebusy with construction details and excited abouttheir homebuilding progress when this photo wastaken.

Frances Salyers of Lancaster located her home in ascenic Central Kentucky rural landscape.

Sticks and contractors soon make a home! Dougand Lisa Goens of Stanford had just startedbuilding their new home when this photo wasmade.

Winchester is Site of Fresh Water Shrimp Harvest


The Kentucky Aquaculture Association hasactively promoted catfish farming in Kentuckyfor many years and some farmers have enjoyedgood profit from the enterprise. In recent years ahandful of farmers have also ventured into freshwater shrimp production as an alternative “farmcrop”.

Sheila and Joe McCord, Jr. of Winchesterconducted their 3rd Annual Fresh Water ShrimpHarvest on several occasions during September.The crowds were good. Sales were brisk. Andarea restaurants, ranging from Winchester toLexington, featured shrimp as the bill-of-fare onmenus.

The McCord shrimp harvest was a unique“field day” setting in September, where visitorsenjoyed the opportunity to purchase freshlyseined shrimp immediately after they wereharvested from the McCord ponds. In addition tosales at the shrimp harvest, Sheila and Joe alsotake custom orders from both restaurants andindividuals.

According to University of KentuckyCollege of Agriculture information, estimates onreturns show a wide variance, ranging from aloss per acre of $1,286, to a return of $8,914.

Figures provided from a Central Kentuckylocation showed gross returns per acre of $6,750,with an overall return to land, capital andmanagement of $2,644 per acre. Costs includedstocking, feeding, miscellaneous costs,depreciation and operator labor. Not bad for oneof Kentucky’s newest farm enterprises!

Production and research support is beingprovided by a number of groups in theCommonwealth, notably Kentucky StateUniversity, the University of KentuckyCooperative Extension Service and the KentuckyDepartment of Agriculture. Shrimp farmingshould still be considered experimental, butmany producers are already entering their fourthand fifth years of production.

Jim Mansfield, director of Value-AddedAquaculture/Horticulture for the KentuckyDepartment of Agriculture is at the headwaters ofexploring the shrimp industry in more detail. Hesays the Department of Agriculture recognizesthe need to process and package frozen shrimp inorder to provide customers with the product year-round. Many producers of fresh water shrimphave ratified Mansfield’s thinking andpreliminary steps are being made to establishpacking sources to expand the industry.

Fresh water shrimp havebeen harvested in Kentucky forseveral years and are now beingregarded as a potentially viable cashcrop for farmers. A few producers inCentral Kentucky are seriouslyworking with the enterprise and areexperiencing success.

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Aquaculture Holds Promise as Kentucky Cash Crop

Sheila McCord is shownweighing shrimp for John Thomas,manager of Ag Credit’s Richmond office.John was on location during one of theSeptember harvest days at Sheila andJoe McCord’s shrimp farm nearWinchester. During the harvest this yearthe McCord’s networked with arearestaurants from Winchester to Lexingtonto promote and serve fresh water shrimpas a special treat to customers.

terested or curious about shrimp production, lots of information is available. Here is where the World Wide Web can shine. Tryeb links. That is, type these addresses into your Internet browser address bar and click on “GO”:

rtment of Agriculture – Press Release/news_events/Ramsey/%20shrimp.htm

ntucky (AAK) – Publication of Kentucky Farm Bureaub.com/kyag.htm and navigate to the April 2001 issue of

ald-Leaderconnect.com/heraldleader/news/070201/bizmondocs

More?Freshwater Shrimp Production” into your favorite searchogle” is a favorite of many web surfers and it can be found

gle.com.

o Link Up With Others?tucky Aquaculture Association at kyaquaculture.com.

o Talk to a Real Person?g Credit professional by calling your local Ag Credit office.our business … and serving you is our business.

Have the Web? tember 19, 2001 issue of “The Farmer’s Pride”, Kentucky’s farm newspaper. An article on Susan Harkins’ work ining is featured.

People Are Saying


Serious Business

These two youngsters wereparticipants in the recent Boyle CountyYouth Livestock Sale. The serious lookson their faces as they steady their lambsattest to the fact that selling livestock is a“real world” challenge. Logan Goggin is atleft, with Greta Gooch in the foreground.Both young people are from Danville, andAg Credit supported the event bypurchasing the champion lamb.

The 2001 Farmer-Lender-Extension Field Day took place August 9 and was co-sponsored by AgCredit and other area lenders. The event was held at Akers Farms, Ltd., in Lincoln County’s HubbleCommunity. Harold and Hal Akers, a father-son team, own the farming operation.

Six key topics were covered during the well-attended field day, each led by a University of Kentuckyag specialist. Dr. John Johns discussed cattle handling facilities and corn grazing programs; Bo Renfroexplained waterquality andconservationpractices; Dr.Jimmy Henningdiscussed rotationalgrazing programsand designs thatwork and also led aseminar onFriendly vs. regularfescue; and DanGrigson and RannyMcGuffey teamedup to discussLCCA and othercost shareprograms.

The Farmer-Lender-Extension Field Day has become an annual event in Central Kentucky, designed to assist full- andpart-time farmers with information and techniques that will produce farm profit and greater satisfactionfrom rural living.

Farmer-Lender Field Day Draws Crowd

Dan Grigson, Lincoln County Extension Agent, (right) takes a moment to say “thanks” to theAkers family who hosted the Farmer-Lender-Extension Field Day during August. Toni and HaroldAkers are shown at left with little Haley Akers. Lee Ann and Hal Akers are shown at center.

In sorrow we

mourn for

those lost.

In gratitude we

embrace those

around us.

In sympathy we

reach out to those

who grieve.

I Am Old GloryI Am Old Glory: For more than ten score

years I have been the banner of hope and

freedom for generation after generation of

Americans. Born amid the first flames of

America’s fight for freedom, I am the symbol

of a country that has grown from a little

group of thirteen colonies to a united nation

of fifty sovereign states.

Planted firmly on the high pinnacle of American

Faith my gently fluttering folds have proved

an inspiration to untold millions. Men have

followed me into battle with unwavering

courage. They have looked upon me as a

symbol of national unity. They have prayed

that they and their fellow citizens might

continue to enjoy the life, liberty and pursuit

of happiness, which have been granted to

every American as the heritage of free men.

So long as men love liberty more than life itself;

so long as they treasure the priceless privileges

bought with the blood of our forefathers; so

long as the principles of truth, justice and

charity for all remain deeply rooted in human

hearts, I shall continue to be the enduring

banner of the United States of America.

– Master Sergeant Percy Webb, USMC.

I Am Old GloryI Am Old Glory: For more than ten score

years I have been the banner of hope and

freedom for generation after generation of

Americans. Born amid the first flames of

America’s fight for freedom, I am the symbol

of a country that has grown from a little

group of thirteen colonies to a united nation

of fifty sovereign states.

Planted firmly on the high pinnacle of American

Faith my gently fluttering folds have proved

an inspiration to untold millions. Men have

followed me into battle with unwavering

courage. They have looked upon me as a

symbol of national unity. They have prayed

that they and their fellow citizens might

continue to enjoy the life, liberty and pursuit

of happiness, which have been granted to

every American as the heritage of free men.

So long as men love liberty more than life itself;

so long as they treasure the priceless privileges

bought with the blood of our forefathers; so

long as the principles of truth, justice and

charity for all remain deeply rooted in human

hearts, I shall continue to be the enduring

banner of the United States of America.

– Master Sergeant Percy Webb, USMC.

In sorrow we

mourn for

those lost.

In gratitude we

embrace those

around us.

In sympathy we

reach out to those

who grieve.



Clark County Agri-Business TourFarmers and business people from Clark County toured the

nation’s great Northwest and portions of Canada during July. Themajor tour was made possible by sponsorships from Ag Credit andother area businesses and included business points of interest for thevaried group, as well as an opportunity to network with one another.32 individuals participated in the tour, which included both air andbus travel during July 10 – 15.

This photo shows part of the group at Lake Louise during atour stop. Shown (left to right) are Shane Wiseman, Michael Staten,John Gossage of the Stanford Ag Credit office, J.C. Pasley, JohnnyCline and E. H. Snedegar.

Joe Goggin of Ag Credit’s Danville office (foreground) andScott Maas of Ag Credit’s Lexington office were busy cookingsteaks at Bluegrass Stockyards when this photo was taken. DougPeterson, an AgCredit loan officer, is shown behind Joe.

Ag Credit teamed up with Farmers Feed Mill in Lexington tofeed the masses at an Internet cattle auction that took place duringSeptember at Bluegrass Stockyards. “eMerge,” a Florida-basedcompany produced the interactive livestock auction and Kentuckycattle were featured at the Internet auction. The majority of cattlewere visible to bidders on videotape, which buyers could see on theweb page during the eMerge auction. Cattle placed for sale on theeMerge interactive auction were exposed to a national buyingaudience.

Yes. The space age has arrived in Central Kentucky, and based on the good sale price averages ofcattle, area producers will benefit from the new technology. For more information regarding futureeMerge interactive auctions on the Internet, contact your local Ag Credit office or Bluegrass Stockyards inLexington. Another easy way to get more eMerge information is to access their web page athttp://www.emergeinteractive.com/company/fastfacts.html or email to [email protected].

Alert at press time: Another eMerge sale is scheduled for December 9 at Lexington’s BluegrassStockyards. Contact Bluegrass for full details, or access the eMerge web site.

Please Remember …All Central Kentucky Ag Credit office will be closed to observe the following holidays.

High Tech Auction & Food, Food, Food!

ThanksgivingNov. 22–23, 2001

(Thursday & Friday)

ChristmasDec. 24–25, 2001

(Monday & Tuesday)

New YearsJanuary 1, 2002

(Tuesday)


Sunshine, Watermelons & New Crops!Field Day Hosts

A Clark County Extension Field Day wasthe highlight of activity in CentralKentucky on August 11. The event drew150 farmers from the region and took placeon a dry summer day. Shown in this photo(left to right) are Mary Beth and JohnHendricks and John Gossage of Ag Credit’sStanford Office. John and Mary Beth werethe Field Day’s farm hosts. John presentedMr. and Mrs. Hendricks with Ag Creditgifts, including brand new association hats.

KenafFrank Hicks, Clark County Extension

Agent, is shown here during a discussionwith visitors about Kenaf as an alternativecash crop. Mary Beth and John Hendricksplanted Kenaf after extension agent Hicksasked them to plant the crop to see if itwould grow well in Kentucky. It did, thusKenaf may be another alternative crop forfarmers. Paper is made from the plant’sstalk.

WatermelonAg Credit’s John Gossage (left) brought a

surprise to the Clark County ExtensionField Day. He purchased watermelonsfrom a Casey County Mennonite farmerand transported the tasty treat to the fieldday. Clark County Extension Agent FrankHicks (right) helped John cut the melonswhile hungry visitors eyed the treat!

We recently visited with Shane Turner,regional lending manager with Ag Credit, totalk about agricultural finance. Shane has beenwith Ag Credit for over 14 years and has alsoraised cattle and tobacco in Madison andGarrard Counties. He’s another of theindividuals who are highly trained and whohave practical farm experience, a combinationyou will find only at Ag Credit.

We asked Shane how people could accessand take steps to improve their “financialhouse”. He responded with the following threeideas that are helpful to anyone who wants toget a feel for how they measure up financially.

Door to Your Financial House

Over Extended?Have you ever:Skipped paying one creditor so you can pay another;

Borrowed from one creditor to make payments toanother;

Reduced your charitable giving so you can makepayments;

Made only the minimum payments on bills;

Never paid ahead on debt.

Shane Turner

People need to know their basic financialinformation. They may know what an asset is,i.e., their farm, home, livestock, etc. But, the ideaof comparing assets to their liabilities – what theyowe others, an indicator of their overall financialcondition – is a skill many people have notdeveloped. Most farmers are good at getting thebest tobacco yield possible, but getting the bestreturn on assets (ROA) is a foreign concept. Isyour ROA 5% or better?

Get a handle on credit card debt. Too muchdebt at a high interest rate for items that are longgone and forgotten is deadly. Some reportsindicate that the average credit card debt is nowover $8,000. Have you paid off the entire balanceon your credit cards in the last year?

Look at your overall debt load. The easyavailability of credit has allowed many people tobecome overextended. Traditional lendingguidelines are actually fairly liberal regarding howmuch people can supposedly pay toward debtreduction.

by Robert Anderson

Do you see yourself? Want to stopworrying about your financial concerns?Are you trying to turn the corner and getyour financial house in order? Or, maybeyou are ready to take the next step toturbo charge your financial progress.Talk to the experts at Ag Credit. Years ofexperience in both agriculture andfinance make the staff of Ag Credit ableto provide sound, practical adviceregarding steps you can take to attainfinancial stability.

Take a little step and give us a call.The professionals at Ag Credit provideconfidential, personal advice regardinghow to improve your financial health.People like Shane Turner and others onthe staff of your local, cooperative AgCredit institution can be a huge benefit toyour farm and personal financialplanning.


Central KentuckyAgricultural Credit AssociationP.O. Box 1290Lexington, KY 40588-1290

PRSRT STDU.S POSTAGE

P A I DCOLUMBIA, S.C.PERMIT No. 785

May Y ou HaveA W onderfu l

Ho liday S easonYour Friends and Neighbors

atCentral Kentucky Ag Credit

Association

Blessed are the merciful: for they shall obtain mercy.

Blessed are the pure in heart: for they shall see God.

Blessed are the peacemakers: for they shall be called the

children of God.

—Matthew 5: 7, 8, 9

this issue - agcreditonline.com · • fresh water shrimp ... david c. sparrow. ag credit leader...

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