Pub. 8 2013-2013 Issue 5

January | February 2014 27 Extraordinary Service for Extraordinary Members. Calif., is the product of five mergers; and Capital Farm Credit of Bryan, Texas, the result of four mergers. Farm Credit East, headquartered in Enfield, Conn., and the product of three mergers, will soon acquire Farm Credit of Maine, itself the combination of two FCS associations. The expanded Farm Credit East will serve most of New England, New York, and New Jersey; Vermont and portions of New York and New Hampshire are served by the much smaller Yankee FCS association. One can readily imagine that Farm Credit East, already the seventh largest FCS association, will soon gobble up Yankee. Similar consolidation is likely to take place elsewhere within the FCS, with Kansas, Oklahoma, Texas, and California the leading candidates for substantial in-state combinations. Fitch Confirms FCS Debt Benefits From GSE Status On Oct. 12, 2013, Fitch Ratings assigned a Negative Rat- ing Outlook to the FCS, based on a Negative Outlook Fitch assigned to the federal government. Fitch stated that “as a GSE, the ratings of the [FCS] are linked to the U.S. sovereign rating.” Fitch further stated that “a change in GSE status could significantly and negatively impact the [FCS’] ability to obtain and maintain cost-effective funding, a primary competitive advantage within the marketplace.” That is not news to bankers. Best Wishes for the New Year FCW wishes its readers as well as their families, friends, associates, and customers the very best for the New Year. While 2014 will be an interesting year for agriculture, one wishes the FCA would become a more vigilant regulator by, to cite just one example, cracking down on the widespread, illegal crop insurance rebating practices of numerous FCS institutions. Report FCS Lending Abuses Bankers are continuing to send FCW reports of FCS lending abuses such as FCS loans for rural estates, weekend getaways, and hunting preserves. Email reports of similar lending abuses in your market to green-acres@ely-co.com . Please provide as much detail as possible about the abusive loan.  To contact Bert Ely, email bert@ely-co.com , phone (703) 836-4101, fax (703) 836-1403, or send mail to P.O. Box 320700, Alexandria, Va. 22320. If your bank belongs to the American Bankers Association (ABA), you can enjoy a free email subscription to Farm Credit Watch or you can read it monthly online at www.aba.com . To receive Farm Credit Watch by email or to manage your subscription, visit ABA Member Email Bulletins at www.aba.com/Tools/Ebulletins/Pages/default.aspx. For other inquiries, please contact Barbara McCoy at the ABA at (800) BANKERS or bmccoy@aba.com . www.DataBusinessEquipment.com 800-373-3000 SERVICING FINANCIAL INSTITUTIONS IN THE MIDWEST SINCE 1968 Data Business Equipment has over 20 years of experience promoting Glory products and services to financial institutions in the Midwest. We are the only full line dealer in our area to carry the complete product suite from Glory Global Solutions for the financial and gaming industry. Through an acquisition by Glory this suite now includes products once offered by Talaris, DeLaRue, and Brandt. We look forward to furthering our relationship with the new products now offered by Glory Global Solutions . Contact us for your sales and service needs at finsales@databusinessequipment.com