High Plains Farm Credit’s ag funds held account is an interest-earning account farmers and ranchers can use to hold funds to be used for loan payments or other farm-related purposes. These convenient accounts continue to grow while allowing you to save for future obligations related to loans, insurance premiums, taxes, and more.

High Plains Ag Funds Held Account

Helping You Save Money and Earn Interest

High Plains Farm Credit can help you put money aside for future important events, all while earning interest. An ag funds held account with High Plains is not a traditional deposit account (like a savings account you’d find at a bank or credit union). It is an interest-earning account you can use to hold funds until needed for loan payments or other agricultural purposes.

These accounts are designed for the benefit and convenience of customers, to help manage future financial obligations related to loans, such as principal and interest payments. They can also be used for the payment of insurance premiums, taxes, or other related items.

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Important Information About Ag Funds Held

If you are a High Plains Farm Credit stockholder, you’re eligible to participate in a funds held account. The balance in your future payment fund cannot exceed your total annual payment(s) and your other funds held accounts cannot exceed the principal of your outstanding loan, plus any available commitment.

After opening an account, you’ll earn interest on money that you contribute to your funds held accounts. The future payment fund account earns the same interest rate as your loan and all other accounts earn a monthly variable interest rate, set by High Plains Farm Credit. Interest earned on your funds held account is reported periodically to you and annually on Form 1099-I to the IRS.

You can direct the application of funds held by simply making a request to your loan officer.

If an installment or other loan obligation is not paid when due, the association reserves the right to apply funds from the funds held account to pay the installment or loan obligation. For this purpose, the borrower grants the association a security interest in all ag funds held accounts of the borrower. The funds so applied will not be available for withdrawal.

Learn More About Interest-Earning Accounts