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3115 West 2nd Ct Russellville, AR 72801   Call 479-968-1434
COVID-19 Update

April 14, 2020


What Farm Credit is doing:

We are closely monitoring the pandemic. We are concerned for the health of our employees, members and communities. The physical, emotional and economic impacts are on the minds of directors and the management team as they plan for what members may need in coming months. 

We took the prudent measure to close our office lobbies in mid-March at the guidance of state officials. While temporary, we do not yet know how long it will be necessary. Our committed employees remain focused on serving members’ financial needs and have transitioned easily to conducting business by phone and electronically.


Why we remain open:

The Office of Homeland Security has named financial institutions as essential businesses during this crisis. Farmers, ranchers and agribusinesses need access to financial services to continue producing the food and fiber we rely on. 


Special assistance for members impacted by COVID-19 

These are unprecedented times and we know this health crisis may impact customers physically, emotionally and/or financially. Know that we truly care about you, your family and your needs.

 


COVID-19 Special Loan Servicing Program

This program is for existing members and is effective April 1, 2020 - June 30, 2020, unless modified or extended.

 

Purpose:

This limited time, special loan servicing program is designed to provide immediate payment relief to Farm Credit of Western Arkansas members who have been adversely impacted by the COVID-19 crisis due to a disruption in income and/or other factors.

 

How the program works:

The COVID-19 Special Loan Servicing Program gives members immediate payment relief through the execution of a 90-day payment deferral of principal and interest. The monthly payments deferred will be spread out over the remaining life of the loan. An extension of maturity is not an option under this plan.

 

Program Eligibility/Qualifications:

Current Farm Credit of Western Arkansas members who have been adversely affected by the COVID-19 crisis and meet the following qualifying criteria are eligible. All fees are waived for this program. 

  1. Deferred principal and interest can't exceed the original loan commitment.
  2. The loan features a monthly payment.  
  3. The loan has an acceptable credit classification.
  4. The loan has had two, or fewer, 30-day delinquencies during the past 18 months.
  5. The cash flow concern related to the COVID-19 crisis is assumed to be temporary (correctable within three months).
  6. The loan-to-value ratio remains within loan perimeters with no change to collateral.

NOTE: If you are a traditional ag customer with something other than a monthly payment and need assistance due to the COVID-19 crisis, contact your loan officer. We have several loan servicing options available to you, as well.

 

How to proceed with a COVID-19 Special Loan Servicing Program request:

Call your loan officer and schedule an appointment to discuss the program and your eligibility in detail. 

 


May I talk to someone?

Yes, certainly. We invite you to call your local branch office. Employees are available during our normal business hours, 8:00 AM – 4:30 PM Monday through Friday. A list of office phone numbers is available under "LOCATIONS" on the homepage.  


Is my local branch office open? 

Yes and No. Our lobbies are temporarily closed to customers in order to limit personal contact, but our employees are available and serving customers by phone and electronic means. 

The technology we use every day is allowing us to continue providing all financial services. Plus, myACCESS, our online portal for account information and bill payment, allows members access to account information and payment options 24/7. 


What are my options for accessing my account information? 

  • Call your local branch for assistance by phone.
  • Enroll in myACCESS, our online banking tool. Gain 24/7 access to your account information and make online payments. 


What are my options for making my loan payment?

  • Drop payment or requested documents in the drop box at your local office.
  • Mail your payment (address is on your loan statement – allow five days for delivery).
  • Pay online using myACCESS. To enroll in myACCESS you need:
    • customer number
    • social security number 
    • loan number and balance (within 10%) 
  • Schedule an automatic, reoccurring payment by contacting your branch office.