At Farm Credit West, we offer a wide variety of financial products and services beyond just financing. From gaining an accurate representation of the value of your operation to automatically sweeping funds between various accounts and lines of credit, we put your money to work for you. By opting into one of our many financial service products, you will maximize your savings, making the most of your business relationship with Farm Credit West.
Do More With Your Money
FCS Cash Manager is a suite of banking services that puts your idle cash to work by automatically sweeping funds between a business account, revolving line of credit and a future payment fund account. Your funds are always working for you in the most optimal way, eliminating the hidden cost of leaving your cash idle.
As a FCS Cash Manager customer, you will save on interest expense, earn higher rates on your cash balances, enhance the efficiency of your office staff, reduce float, and receive one-stop consultation and support from our best-in-class providers. Put your cash to work by paying down your loan or increasing your investment.
Cash Manager is designed especially for America’s rural businesses. These convenient online tools save you both time and money.
- Deposit money quickly and easily
- Make and collect payments
- Balance accounts
- Automatic loan sweeps
Learn more about the benefits of enrolling in FCS Cash Manager
FCS Cash Manager offers several solutions to accelerate availability of your funds and to make your accounts receivable and application processes more efficient.
Deposit checks remotelyScan your checks and transmit them electronically to your Cash Manager account, reducing the number of trips you need to make to the bank. Reporting options are available to streamline your accounts receivable updates. You will have next day access to your funds – sometimes as much as two days sooner compared to standard deposits.
ACH Deposit ServicesWith this solution, your customers can remit electronic payments to you or you can initiate pre-authorized drafts from them – both one-time and recurring payments – strengthening your cash flow projections.
Automated Cash ConcentrationIf you have the need to make deposits locally, we can automate the sweep of these funds to reduce your loan balance or increase your investment with us. You define the parameters – how much and how often your funds will be swept.
Receive faster access to funds through Lockbox processingLockbox processing gives you faster access to your funds by reducing mail float time and quickly posting your collected funds. We provide same-day online access to the images of all deposited checks and supporting documentation. With sites across the country, this is also a simple, proven way to reduce the administrative burden of processing checks.
With FCS Cash Manager disbursement solutions, you get just-in-time funding of your payments from your Cash Manager account – keeping your funds with us helps keep your loan balance lower and your investments working longer.
Controlled DisbursementYou will know the total amount of checks presented early on the day they clear with Cash Manager’s controlled disbursement feature. Plus, your account is automatically funded from your loan or investment with the exact amount needed. Some customers may gain more float on checks they write.
ACH Disbursement ServicesFCS Cash Manager’s ACH services let you set up automatic payments from your Cash Manager account to pay your employees, vendors and taxes.
Reporting and Reconciliation Support
FCS Cash Manager offers online reporting and reconciliation support to help simplify your administrative tasks. In addition to a daily account summary, you have online access to transaction details, including checks, ACHs and wires, as well as loan and investment activity. You can view one or multiple accounts, specify date ranges or transaction types, or search for specific items. The activity detail can be exported for use with your internal systems, and images of your cleared checks are readily available online.
Through this tool, we can help you reconcile your Cash Manager accounts each month by providing either a Paid List of your cleared checks, or a Full Reconciliation Report that includes your issued, paid and outstanding checks. These online reports can be supplemented with a data file that can be uploaded to your accounting system to automate your reconciliation process.
Fraud Detection Tools
Safeguard your funds with powerful tools designed to protect you and your money from fraud.
Positive Pay helps guard against check fraud as well as check irregularities such as encoding errors and multiple postings. Protecting your account from fraud has never been easier with the option to choose the service level that fits your business.
Learn more about Positive PayWith positive pay, you send a file of issued checks to the bank, including check number and dollar amount with the option of payee name. When checks are presented, they are matched to your file. Exceptions are flagged so you can review them online and determine whether or not to pay them. The optional paid check review feature lets you review every check to decide whether it is valid and should be paid or is unauthorized and should be returned.
ACH Fraud FiltersThis tool has in place ACH Fraud Filters that guard against unauthorized parties initiating electronic payments on your Cash Manager account. You have the flexibility to block all ACH presentments or to review exceptions and decide which ACH transactions are allowed to settle against your account. It’s easy to manage your authorized parties and maximum dollar amounts online.
Whether you are billing for recurring payments or accepting credit cards at the point of sale, we offer competitive rates, and you have use of your funds within 24 hours.
Business Credit Cards
Provide key employees with VISA® cards and eliminate the need to use personal credit. Maintain controls by setting purchase limits for each cardholder. Merchant blocks are also available if needed.
Take advantage of investment opportunities automatically when your daily cash position allows. Choose from a variety of funds, all of which offer safety and liquidity for your short term investment needs.
Don’t let your money rest easy – make it work for you with FCS Cash Manager. Call your local Farm Credit West office for more information today.
The Farm Credit West Preferred Stock program provides existing customers/stockholders the opportunity to further invest in their association while earning a competitive return on their investment. Below is a summary of some of the key features of this program. For a complete description of the terms and conditions of Farm Credit West Preferred Stock’s program, you may request FCW’s Preferred Stock Disclosure Statement.
Who’s Eligible?Any existing stockholder of any class of common stock or participation certificates of Farm Credit West may purchase shares of Preferred Stock.
How are Dividends Paid?
- Rate - The dividend rate is established by the Farm Credit West Board of Directors on or before the last day of each calendar month. The current dividend rate effective March 2018 is 2.10%. Rate
history and current rate information may be obtained from your local Farm Credit West office.
Automatic Reinvestment of Dividends - Under the terms of the Subscription Agreement, any dividend paid on Preferred Stock will be applied to the purchase of additional shares of Preferred Stock at par value. Accordingly, holders of Preferred Stock will not receive cash distributions until it is retired by redemption. Instead, any dividend paid on Preferred Stock will result in an increase in the number of shares held by each holder.
Declaration - Dividends will be declared in the order accrued (i.e., the oldest first) and will be payable upon declaration by the Farm Credit West Board. Dividends will be paid on the effective date of the declaration to holders of Preferred Stock during the period specified by the declaration.
- Rate - The dividend rate is established by the Farm Credit West Board of Directors on or before the last day of each calendar month. The current dividend rate effective March 2018 is 2.10%. Rate history and current rate information may be obtained from your local Farm Credit West office.
When can I request retirement?Preferred Stock has no fixed maturity, term, or retirement date. A holder of Preferred Stock may request retirement at any time. Retirement requests must be for a minimum of 1,000 shares ($1,000). Shares of Preferred Stock may be retired only at the discretion of the Farm Credit West Board provided certain regulatory requirements are met. All shares approved for retirement will be retired at an amount equal to the share’s par value, plus accrued but unpaid dividends.
When are my transactions processed?Farm Credit West processes Preferred Stock Program investments and retirements only on the first business day of the month. The amount of Preferred Stock issued for each holder will be on a “first come, first served” basis after considering any individual or program issuance limitations then in effect.
Is my Preferred Stock Transferable?Preferred Stock is transferable only to another holder of Preferred Stock and then only after the transferor provides written notice to Farm Credit West.
Preferred Stock is an “At-Risk” InvestmentThe purchase of Preferred Stock is an “at risk” investment in Farm Credit West. It is not a deposit or compensating balance. Neither the return of the purchaser’s investment, in whole or in part, nor the receipt of any dividends thereon, is guaranteed by the Association or any affiliate thereof, any federal or state government or agency, or any third party.
What are the Tax Consequences of holding Preferred Stock?The Association will comply with applicable dividend reporting requirements under federal income tax laws. Any dividends paid by Farm Credit West on Preferred Stock will be included in the federal taxable income of the holder and subject to tax the same as other “ordinary dividend income.” Each holder of Preferred Stock is urged to consult their own tax advisor as to specific tax consequences, including tax return reporting requirements and the applicability and effect of federal, state, local, and other applicable tax laws.
How do I Subscribe?
Stockholders interested in purchasing Preferred Stock will be provided a Disclosure Statement that thoroughly describes the Preferred Stock Program. To subscribe, the stockholder completes a Subscription Agreement and provides a check made payable to “Farm Credit West, ACA” in the amount of the purchase price of the shares. In lieu of a check, the purchaser may direct Farm Credit West to apply any of purchaser’s funds held by the Association toward the purchase of Preferred Stock.
Your initial subscription must be for a minimum of 5,000 shares ($5,000). Subsequent subscription requests must be a minimum of 1,000 shares ($1,000). Each holder of Preferred Stock must maintain ownership of a minimum of 5000 shares ($5,000) at all times. No subscription to a single investor can exceed the limit established by Farm Credit West, which may be amended from time to time.
Future Payment Fund
Do you find your excess cash earns a low rate of return - if any at all - due to your need to keep these funds available for use in your operation? To avoid potential losses, Farm Credit West has established the Future Payment Fund Program for our customers in an ongoing effort to maximize your benefits. Through setting up a Future Payment Fund account, you can have the best of both worlds- keeping your cash liquid while also earning a market rate of return. Read more about this program below.
An initial minimum of $5,000 is required to open a Future Payment Fund account. Your maximum balances are limited by the amount of your total loans and leases with Farm Credit West.
You can set up an interest-bearing Future Payment Fund when you establish a Farm Credit West loan or lease, or at any time after your loan or lease is in place. However, Farm Credit West reserves the right to limit participation in the Future Payment Fund Program.
What interest rate will my FPF account earn?
Your Future Payment Fund earns interest at a rate determined by Farm Credit West. The rate typically changes with other market-based interest rates. The interest rate on your Future Payment Fund account may change as frequently as the first of each month. The interest rate during any calendar month is established by Farm Credit West before that month begins. Your Future Payment Funds cannot earn interest at a rate higher than your loan’s interest rate.
Interest accrues daily on your Future Payment Fund principal and is compounded monthly. Interest earned is subject to the same withdrawal requirements as Future Payment Fund principal.
As of March 2018, the current dividend rate is 1.40%. Rate history and current rate information may be obtained from your local Farm Credit West office.
When can I withdraw from a FPF?You may withdraw funds from a Future Payment Fund account to apply against Farm Credit West loans, to pay other agricultural obligations, or for any purpose consistent with your borrowings from Farm Credit West. Requests for withdrawals for other purposes are subject to Association approval.
How are my transactions processed?You can choose to add or withdraw from your Future Payment Fund using the electronic features of online banking. You can also move funds between your depository bank and Farm Credit West via electronic transfer or by phoning your local branch office.
How safe are the funds in my FPF account?The Future Payment Fund Program is voluntary and these funds are uninsured. Your funds are protected by the commitment and financial condition of Farm Credit West. Copies of the most recent reports reflecting the Association’s financial condition are available in each Farm Credit West office.
Will I be notified of changes?The specific terms and conditions of the program are contained in the Future Payment Fund Agreement. From time to time, Farm Credit West may review program parameters. Terms and conditions of the program may be changed with advance notification to participating customers.
ReportingThe Association will comply with applicable reporting requirements of federal income tax laws. Interest earned on your Future Payment Fund is reported annually to you and to the Internal Revenue Service on Form 1099-I. Consult your tax specialist regarding the taxability of this income by the state.
Farm Credit West recently launched an all new myFCW secure customer portal on FarmCreditWest.com. Redesigned to meet the growing needs of our customers, you will now have access to exclusive information and tools. In addition to industry news, you have quick access to account information and documents, an electronic balance sheet, Online Banking, and may send secure messages to your loan officer. For more details on each of these services, keep reading.
Online Banking is a free tool available within myFCW that allows you quick and convenient access to your account information via a secure internet site. Through online banking, you can:
- View detailed information on your accounts including loan statements
- Transfer funds or make payments from your FPF fund account or operating line
- Utilize ACH transfer services that enable you to electronically transfer funds to the financial institution of your choice
My Documents is a tool that allows you to view your statements and tax documents, which are now conveniently located all in one place. All your important FCW information is filed under the My Documents tab. Customer Billing Statements, Transaction Summaries, and other documents are arranged by date received and can easily be viewed and downloaded.
My Industries is a collection of industry information and news that keeps you up to date on new agricultural trends and technologies. This tool includes the CoBank Knowledge Exchange Reports, Farm Credit updates, and other exclusive industry news. The articles are frequently updated and can be filtered by date, commodity, or industry.
Secure Messaging is located within your myFCW account and allows you to communicate and exchange important information with FCW staff in a secure environment.
My Financial Requests
My Financial Requests gives you access to update and submit an electronic balance sheet to your loan officer. You can even download your balance sheet in pdf form to easily fill out or print. The format automatically populates the most current information from your accounts and allows you to reference data entered in previous cycles. Contact your loan officer for more information on the electronic balance sheet.