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HomeMy WebLinkAboutTimes Advocate, 1992-10-14, Page 12Page 12 'Times -Advocate. October 14, 1992 mMM Working to dispel myths Farm Credit Corporation looking to shed 1980s image EXETER - The Farm Credit Cor- poration, trying hard to shake the image earned during the height of the 1980s repossessions and fore- closures, is taking its sales pitch on the road. Thursday, officials of the federal lending institution brought their message to the Exeter Legion Hall for an audience of business- people involved in the agricultural sector, including realtors, lawyers, farm equipment dealers, and build- ers. Ted Young, master of ceremo- nies, explained that the agri- business information meeting was aimed at explaining more about the FCC and the changes to the institu- tion over the years. "There are quite a few miscon- ceptions about FCC," said Young, noting many of the old restrictions used for farm loans in the 1960s have not applied for decades, but are still believed to be in use. The FCC states its goal as provid- ing Canadian farmers with a source of long-term credit and to also pro- vide financial counselling services. Bob Aumell, vice-president of the Atlantic Region gave a provincial overview and noted much has changed in the past decade. In the 1983=84 year, the FCC issued 1,399 loans to Ontario farmers. That number dropped to only 260 loans in 1988-89, a result of high interest rates and poor commodity prices. "We went from spending 70 per- cent of our time lending money to spending 70 percent of out time collecting money," stated Aumell. With today's lower rates. lending is on the rise again with 830 loans issued in 1991-92 and Aumcll ex- pects the FCC will issue as much as $90 million in loans by this year end. As for arrears, Aumell said the provincial situation reflects the na- tional trend with Ontario arrears dropping from $100 million in 1988 to $17.1 million in 1992. He predicted that total to drop to $12.1 million by next year, a small amount out of an overall Ontario loan portfolio of over $l billion. Aumell also touched on the Farm Debt Review Board, the Ontario government's Farm Finance Re- view. and farm management train- ing programs. He said FCC staff arc receiving better training and computer equipment to improve counselling and loan consultations, often right on the farmers' kitchen table. Aumell noted the public teacuon to the FCC's foreclosures in the mid-1980s generated bad press and a negative reaction to the corpora- tion. Consequently. he said a mar- keting program is aiming to im- prove that image, while improvements to the way in which :the operation works are aimed to help its customers. Phil Kreuter. the assistant district manager of the Walkerton office provided some statistics on Huron County's FCC activity. He noted the county represents some 9.34 percent of the total Ontario portfo- ho with 1,091 clients, 1,444 loans for a total of S91,372,492 in loans. "Huron County represents about ten percent of what the corporation is doing in Ontario - a very signifi- cant amount," said Kreuter. Loan ai,.,vity in Huron was S7 million last year, and Kreuter said the 1992-93 year is expected to be very active. "1 know in the past month there's been at least a million dollars in new loans in our district alone," he said. Kreuter noted the bulk of the FCC's business in Huron is in pro- viding long-term mortgages. Thir- ty Percent of the loans were [or land purchases, 23 percent for land debt consolidation, 21 percent other debt. 12 percent for buildings, and 7.8 percent for quota purchase. There were 113 loans in arrears in Huron as cf August, down sig- nificantly, Krauter from the 150 last year. Corlette Elder, a credit advisor with the Goderich FCC office, ex- plained some of the myths still sur- rounding the Farm Credit Corpora- tion. She noted the FCC is no longer short of money as it was in the ear- ly 1980s because in addition to fed- eral government funds. it can now borrow on international money markets and raise funds through FCC long term notes. She said contrary to populkr be- lief, any Canadian citizen or landed immigrant of legal age can apply to the FCC. Age limits of the 1970s no longer apply. Now that funds are freely availa- ble, established operations are wel- come to borrow, and amalgama- tions of older, lower -interest rate, FCC loans are not required to apply for new loans. Loan limits of 5350,000 for a sin- gle person, and 5600,000 for multi- ple operators are in effect, although Elder noted security margins usual- ly come into effect before the limits are reached. The FCC can change its rates any day to compete with other lending institutions, not only twice a year as some believe, said Elder, and the FCC does allow off -farm employ- ment, so long as the farm is a nor- mal commercial operation, not a hobby farm. A question from the audience asked the panel why FCC rates arc now higher than national bank loans when they used to be lower in the early 1980s. Aumell replied that the corporation's current goal is to break even. Young farmers needing financial assistance to break into the business should seek out other assistance programs. "It's a change in our mandate that we've had over the years," said Aumell. MP Murray Cardiff, who attend ed the meeting was asked about new proposed federal legislation and what it would allow the FCC to do that it cannot do already. Cardiff, who said he could not dis- cuss the legislation until it is tai` bled in the House of Commons this fall, did say the prograrn should be an "expansion" of what the FCC docs now. Cor/ette, Elder, from the Goderich office of the Farm Credit Corporation, dispels some of the myths that have surrounded the federal lending institution over the years. One Foot in the Furrow By Bob Trotter The bureaucrats are at it again. School board officials in our area are developing a Christmas policy. They were prompted by parents who fear that Christmas could be cancelled in the schools and by complaints from some other parents who were offended by the fact that their children would be involved in a Christian activity. Give me a break, people! Cancel Christmas? Sounds like one of the silliest, stupidest ideas 1 have ever heard. A "draft document" is being de- veloped by a "board advisory com- mittee" made up of representatives from vart6til religions and cultures. This has been prompted by two On- tario Court of Appeals decisions nlling that public schools must not Walk on the Wild Side 4-H club CREDITON - The first /t, meeting for the Walk On the Wild Side 4-H club, was held on Thursday, October 8 in NACrediton. The club president is Amanda Glavin, Kim Palsa is our vice-president, the sec- retary is Annette 'Zwambag and the press reporter is Kim Govers. Meeting one was about maps, what's on them and how to use a map. After this meeting, I'm sure that everyone could follow a map anywhere! We also came prepared to go on an overnight hiking trip (but we didn't go anywhere). It is important to wear loose, comfortable111thing and to bring only the necesss. After the meeting we had donuts and juice, provided for us by our leaders Glenda Wuerth and Caro- lyn Pritchard. Our next meeting will be on Tuesday, October 13 at the Crediton Conservation Park. Kim Govers, press reporter give any particular religion promi- nence. Good grief! Next thing you know they'll be cancelling the tooth fairy. Why must we "cancel" Christ- mas? Let's keep it and honour other religions at the same time? Gift- giving; the real loving, wonder of Christmas is a part of all religions and cultures. Why throw out the baby with the hathwater? To ban the singing of Christmas carob and the re -creations of the Christmas story will deprive all children - whatever their race, col- our or creed - of an opportunity to understand the traditions on which so much of our western culture is hased. Those school Christmas concerts arc indelibly impressed on my mind. We looked forward to them for weeks before Christmas and were proud of our efforts even if we did forget our lines. As a parent and a grandparent, the Christmas school concerts have become an in- tegral part of our lives. Seeing our kids and grandkids on stage brought more lumps to my throat than any other single event in the school year. b can still get a chuckle remem- bering the last year in our old rural school. Allan Davies was the back end of a camel and he tripped over Marg Wakelin's kimono and was dragged, kicking and screaming into the stable. Roy Peters spent the entire half hour on the stage pick- ing his nose instead of being one of the wise men and Bill Powell stood with his back to the audience be- cause he wanted to see the baby Je- sus in the manger and to heck with Tues., October 20, 1992 10 a.m.-4p.m. We would like to thank each of you that have supported us over the past 30 years. the crowd in the schoolroom. They were marvelous times, filled with awe and wonder and the warmth of home and hearth, when differences were forgotten and peo- ple travelled many miles just to be with the family at Christmas time. I am well aware that our society has developed in the last 50 years from white, Anglo-Saxons to a so- ciety that is multi -cultural. No long- er is 99 and 44 -one hundredths per- cent of the school population Christian in character and these dif- ferences should be recognized. I love those differences. But to ban the singing of the age-old car- ols or the wonderful Christmas pa- geants will deprive all children of an opportunity to understand the traditions that make up the founda- tion of this society. We can keep Christmas in the tra- ditional way in the schools and also pay homage to the other great holi- days from other faiths. We can learn about Hanukkah and Rama- dan and the many other significant celebrations of others. But to cancel Christmas at the schools would be a dreadful move. Leave the Grinch out of this. Rural conference GODERICH - The Huron County Planning and Development Depart- ment will be presenting an Interna- tional Rural Development Confer- ence, Oct. 21 to Oct. 23 in Goderich. Called, "Stimulating Rural Eco- nomics," full registrations and day passes arc still available: For more information contact Paul Nichol at 524-2188. • • ti CHARTERED ACCOUNTANTS Kime, Mi11s, Dunlop. Chartered Accounranr5 Daniel B Daum. B.A.. M.Acc.. C.A Waage, 412 Mein St.. P.O. Box 2405 Exeter. Ontario NOM 1S7 (519) 235-0345 Fax: (5191 235-3235 John A.M. Norris (_HAKrEREUACU.XJNiANN' 497 Mairi Street South, Exeter. Ontario NOM 151 Tel: (519) 235-3240 Fax: (519) 235-3246 cff74PPeEC7,4770479M * Good Food (served all day) * Door prizes * Parts Discounts all week 5% to 15% (details in store) ). 40 1: w You are welcome to tour our facilities, ,� talk to our staff and p , save money on your fall parts. Farm , SLlpp!y.Ltd. 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