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Reaching Agricultural Lenders is a Gateway to Serve the Risk Management Needs of Farmers

Barry Ward, Chris Bruynis, Wm. Bruce Clevenger, and Rory Lewandowski

Summary

Ohio State University Extension professionals have organized agricultural lender seminars for over 25 years teaching risk management topics. While the 2012 seminars reached 97 Ag lenders, the lenders reported having 9,500 farm customers served with the knowledge gained by OSU Extension. Knowledge gained was measured by using a post/pre survey instrument that lenders self-measured their pre and post knowledge on seminar topics. Lenders improved their knowledge in risk management topics 30% (Examining Potential Profitability for 2013) to as high as 52% (Farm Transition Planning: Rational to Reality). Knowledge gained will be used by lenders directly (speak with customers related to their farming operation), indirectly (use to review customer portfolios), and as background (professional development and industry awareness) with their farm customers. Three topics were identified as having high percentage of lenders directly using knowledge gained with customers: Farm Transition Planning Tools and Information (76%), Examining Potential Profitability for 2013 (66%) and Returns to Farm Drainage (60%). Two topics were identified as having high percentage of lenders using knowledge gained as background use with customers: Many People and Less Poverty in 2050-Feeding the World (66%) and Ohio Energy Development-Wind, Solar, Gas (55%). Knowledge gained by lenders will reach a diverse demographic of farm customers based on the $2.5 billion agricultural portfolio reported by participating lenders. By evaluating the 2012 seminar participants, OSU Extension educators better understand the important multiplier effect of teaching a group of professional agricultural lenders and reaching nearly tenfold the number of Ohio farmers.

Details

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