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First Pioneer has had a long-standing commitment to making full use of farm loan guarantee programs that assist borrowers in maintaining access to credit while managing risk for the association. "Guarantee programs are a win/win credit tool for our customers and for First Pioneer," states Jack Batchellor, Executive Vice President and Chief Credit Officer. "That’s why we look for every opportunity to use them to assist borrowers, whether they be young farmers just getting started or farmers expanding their operations to remain competitive or established farmers who have encountered adversity."
Now the Chairman of the Farm Credit Administration, Michael C. Reyna, has recognized First Pioneer as one of two national leaders within the Farm Credit System in using guarantees. First Pioneer recently received a Chairman’s Commendation for "exemplary use of agricultural loan guarantee programs." Chairman Reyna presented the award to First Pioneer CEO Bill Lipinski at the 20th Annual Farm Credit Council Meeting in San Francisco on January 20th. Farm Credit of Western Oklahoma was the other recipient of this recognition. For more details, please see http://www.fca.gov/Download/2003fccremarks.pdf (requires the free Adobe Acrobat reader)
For the record, FCA’s latest statistics as of September 30, 2002 indicate that First Pioneer’s $99.4 million of guaranteed loan volume makes it the second largest Farm Credit Association nationally in terms of guaranteed loan volume. That equates to 6.4% of loan volume, compared to the national Farm Credit average of 2.7%. (Performance and Accountability Report – Fiscal Year 2002, Farm Credit Administration, January 2003, page 33).
Most of the guarantees used by First Pioneer are through the US Department of Agriculture’s Farm Service Agency (FSA) and its Business and Industry Guaranteed Loan Program. In May of 1999 FSA approved First Pioneer as their third "Preferred Lender" (PLP) in the nation and the first Farm Credit institution in the nation to obtain such approval. First Pioneer also seeks out other guaranteed lending programs such as Small Business Administration (SBA) guarantees and welcomes the opportunity to work with state programs where available.
"I’m just tremendously proud of our First Pioneer lending staff," notes First Pioneer CEO Bill Lipinski. "Effective use of all available guarantee programs is another tool that allows us to serve our customers and meet our public policy mission. It’s a natural for skilled lenders who really care about their customers."
Posted February 25, 2003
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