Loan System Update

Benefits of the upgraded system include:

• Extended daily deadlines for making payments or transferring cash from lines of credit via digital banking (Coming Soon!)
• Enhanced security to protect personal information
• Consolidated monthly statements for those with multiple accounts, where applicable
• Improved efficiency when accessing account information through our Customer Care team
• ...and more!

Please see the frequently asked questions below to learn more.

 Frequently Asked Questions

My monthly billing statement is late or missing. What happened? What should I do?

 Due to a coding issue in the new system, some billing statements were generated electronically when printed bills should have been mailed.  The issue has since been resolved. Printed billing statements have been produced and will be arriving soon. In the interim, those who utilize Digital Banking may access their statements in that platform, if desired. We sincerely apologize for any concern this printing delay may have caused. Please note: for payments that are late as a result of this printing delay, late fees will be waived and credit reports will NOT be impacted.  Please contact Customer Care at 888.339.3334 should you have additional questions.

Information on my billing statement doesn't match my records. What should I do?

As we work to integrate our systems, there may be some anomalies that appear on billing statements. Our team is prioritizing these issues and addressing them as quickly as possible. If your billing statement appears to be inconsistent with your records, please call our customer care team at 888.339.3334. 

How will I be impacted?

Now that the system transition is complete, our team is working on final verifications and getting all systems fully accessible for staff and customers as quickly as possible. Please call our Customer Care team at 888.339.3334 should you encounter any accessibility issues or have any questions. You’ll notice changes to your account and loan numbers listed on billing statements issued after July 14. All other aspects of your account will remain unchanged.

Why are my account and loan numbers changing and how?

The new loan system will create many efficiencies and bring numerous improvements, however, the updated software requires a different format for loan numbers than we’ve used in the past. You won’t be receiving a new loan number – the current one will be modified to remove some non-numeric characters and leading zeros. Your account number is based on your loan number and will be modified to reflect the newly modified loan number, as part of the system conversion. You may notice these modifications beginning July 17. All other aspects of your account will remain unchanged.

What do I need to do to prepare for my account and loan number changing?

This change does not require any action on your part unless you use third party bill pay services. 

Members who utilize third-party bill pay services can rest assured that payments made through such a service will continue to be processed and credited, without interruption, in the months following the system upgrade. While no immediate action is necessary, we ask them to provide their banking institution with their modified Farm Credit account number to avoid any future bill pay disruptions.  Please use the account information contained on forthcoming statements to update any institution used to make direct payments.

When will I see these modified numbers reflected on my billing statements?

Your modified loan and account number will appear on billing statements dated July 14, 2023 and after. (The statement date can be found in the upper right corner of each billing statement.)  The account number will be clearly identified on the front of the statement. The back of the statement will include a detailed explanation of each section, highlighting where information, including your modified account number, is located. 

Will I still be able to access my account and banking services?

Now that the upgrade is complete, we are finalizing system verifications; this may cause brief, temporary interruptions to our banking services, like Digital Banking. If you have any questions about your account or need help, our Customer Care team is here to help and can be reached at 888.339.3334. Payments due during the system upgrade closure will not be considered late or incur late fees until July 18.

Will there be a grace period for late fees?

Offices were closed to members on July 14 and resumed regular business hours on Monday, July 17, at 12 pm. Payments can and should be made on time. Payments due during the system upgrade closure will not be considered late or incur late fees until July 18. Late fees will not apply to any payments made after the system upgrade, and during the brief window of time that we were unable to process payments.

Our customer service team will ensure that your payment is posted as intended and you will not incur a late fee for this reason, unless the payment is made after July 17. AutoDraft payments scheduled for July 15 drafted on July 17 after 12 pm.

I use a third-party bill pay service to make payments on my Farm Credit account(s). What do I need to do?

Even though account numbers will be modified, rest assured that payments made through a third-party bill pay service will continue to be processed and credited, without interruption, in the months following the system upgrade. No immediate action is necessary.

However, we ask members who utilize third-party bill pay services to provide their banking institution with their modified Farm Credit account number to avoid any future bill pay disruptions.  Please use the account information contained on forthcoming statements to update any institution used to make direct payments.  When providing that update please note: third party bill pay services utilize account numbers, rather than loan numbers.

I'm confused about what number is being modified - is it my loan number or account number?

Farm Credit account numbers are based on loan numbers, so both will be affected. Your modified loan and account numbers will appear on billing statements dated July 14 and after. The account number will be clearly identified on the front of the statement. The back of the statement will include a detailed explanation of each section, highlighting where information, including your modified account number, is located.

I use AutoDraft to make payments on my Farm Credit account(s). Do I need to take any action or update my loan and account number anywhere?

Those who use AutoDraft do not need to take any action as a result of the system upgrade. Drafts will be processed after the upgrade as they were before.