Golden State Farm Credit has a Funds Held account program, which is an interest-bearing trust account that offers a market-competitive cash management option for borrowers. By setting up a Funds Held account, you can keep your cash liquid for your agriculture operating needs while also earning a market rate of return. Funds Held is a unique money-management benefit that is only offered at Farm Credit.
How Funds Held Accounts can be used
- Make a loan payment
- Apply funds to your account
- Pay taxes or insurance
- Use for other agricultural purpose
- Any GSFC primary borrower who has a loan
- Borrower can invest up to the amount of their principal or total loan commitment balance and earn interest on their funds
- Determined by GSFC
- Interest on the accounts is compounded annually
- The interest rate paid on the account will be established by the Association’s Asset Liability Committee.
How to add of withdraw funds
- Call the office to request a check or payment via Automated Clearing House (ACH)
- Use Online Banking
About Funds Held Accounts
- No withdrawal penalty
- Not a depository account
- Uninsured and at the risk of loss
- Funds are protected by the commitment and financial condition of GSFC
- Interest earned is reported annually to you and the IRS on Form 1099-INT
Golden State Farm Credit reserves the right to limit participation in the Funds Held Account Program. For more information about our Funds Held Accounts Program, call 800.834.8698.