New checking account

Richmond Hill Bank recently unveiled a no minimum-balance free checking account that rewards customers with 5.5 percent Annual Percentage Yield (APY) earnings and automatic refunds on all ATM fees nationwide, according to a press release from the bank.

The account is called Reward Checking, and people with balances between one penny and $50,000 can earn high interest, 5.5 percent. APY plus gets refunds on fees charged by other banks’ ATMs anywhere in the United States, according to the press release. Account balances above $50,000 earn 1.50 percent APY on the amount above the $50,000 level.

Customers do have to meet some criteria, however, to get the interest rate and ATM fee refunds. Account holders must make at least 10 free check card transactions per cycle (excluding ATMs), receive their monthly statement via secure email notification (versus a paper statement) and have one direct deposit or one ACH auto debit, the release said.

Richmond Hill Bank is a member of the First Chatham Bank family of neighbor banks headquartered in Savannah.

Farm ownership loans

Beginning farmers or ranchers can obtain a "regular" farm ownership loan by using funds set aside especially for them by the Farm Service Agency. These loans finance up to 100 percent of the land’s purchase price (up to the $200,000 loan limit), and the term of the loan can be up to 40 years. The current interest rate is 5.50 percent.

The regular farm ownership loan funds may also be used in joint financing where FSA lends up to 50 percent of the amount financed and another lender provides 50% or more. FSA may charge an interest rate of not less than 4 percent with terms up to 40 years.

Beginning Farmer Down Payment Ownership Program (10-40-50)

Purpose: Obtain help financing the purchase of a farm up to $250,000 of the purchase price or the appraised value whichever is less. The applicant must put down 10 percent The Farm Service Agency finances up to 40 percent of the purchase price. The remaining 50 percent of the purchase price can be financed on contract with the seller or through a conventional lender. The lender can obtain a guarantee from FSA if the customer is eligible.

Rates: The FSA loan for 40 percent will be locked in for the full 15 years. Currently the rate is 4 percent. The loan for the balance of 50 percent should be the rate the contract holder or lender would charge an average customer.

Qualification: Beginning farmer applicants must have been farming for at least three years and not more than ten. Applicants cannot own real estate that exceeds 30 percent of the average farm size for the county.

Applications for all FSA loan programs are available from local FSA offices which can be located in the phone directory under United States Department of Agriculture or located through the website http://www.fsa.usda.gov.

The FSA Farm Loan Team located in Statesboro processes loan applications for Bulloch, Candler, Effingham, Bryan, Chatham, Emanuel, Evans, Jenkins, Screven, Tattnall, Toombs, Liberty, Long and McIntosh Counties and can be contacted at (912) 871-2610, extension 5.

The United States Department of Agriculture (USDA) prohibits discrimination in all its programs and activities on the basis of race, color, national origin, sex, religion, age, disability, political beliefs, sexual orientation, or marital or family status. (Not all prohibited bases apply to all programs.) Persons with disabilities who require alternative means for communication of program information (Braille, large print, audiotape, etc.) should contact USDA’s TARGET Center at 202-720-2600 (voice and TDD). To file a complaint of discrimination, write USDA, Director, Office of Civil Rights, Room 326-W, Whitten Building, 1400 Independence Avenue, SW, Washington, DC 20250-9410 or call (202) 720-5964 (voice and TDD). USDA is an equal opportunity provider and employer.

Attention Socially Disadvantaged Farmers

FSA has a number of loan programs available to assist applicants to begin or continue in agriculture production. Loans are available for operating type loans and/or purchase or improve farms or ranches.

While all qualified producers are eligible to apply for these loan programs, FSA has provided priority funding for members of Socially Disadvantaged Applicants.

A socially disadvantaged applicant is one of a group whose members have been subjected to racial, ethnic or gender prejudice because of his or her identity as members of the group without regard to his or her individual qualities. For purposes of this program, socially disadvantaged groups are women, African Americans, American Indians, Alaskan Natives, Hispanics, Asian Americans, and Pacific Islanders.

If producers or their spouses believe they would qualify as socially disadvantaged, they should contact their local FSA office for details. FSA loans are only available to applicants who meet all the eligibility requirements and are unable to obtain the needed credit elsewhere.

Applications for all FSA loan programs are available from local FSA offices which can be located in the phone directory under United States Department of Agriculture or located through the website http://www.fsa.usda.gov. The FSA Farm Loan Team located in Statesboro processes loan applications for Bulloch, Candler, Effingham, Bryan, Chatham, Emanuel, Evans, Jenkins, Screven, Tattnall, Toombs, Liberty, Long and McIntosh Counties and can be contacted at (912) 871-2610 x 5.

The United States Department of Agriculture (USDA) prohibits discrimination in all its programs and activities on the basis of race, color, national origin, sex, religion, age, disability, political beliefs, sexual orientation, or marital or family status. (Not all prohibited bases apply to all programs.) Persons with disabilities who require alternative means for communication of program information (Braille, large print, audiotape, etc.) should contact USDA’s TARGET Center at 202-720-2600 (voice and TDD). To file a complaint of discrimination, write USDA, Director, Office of Civil Rights, Room 326-W, Whitten Building, 1400 Independence Avenue, SW, Washington, DC 20250-9410 or call (202) 720-5964 (voice and TDD). USDA is an equal opportunity provider and employer.