Guide to Your Farm Plan Statement
| Farm Plan Highlights |
You expect more from Farm Plan. Like more information about your purchases. And more flexibility when making payments.
Your monthly Farm Plan statement gives you all that and more, helping you make the most of your time and your money.
For example, the Balance Summary gives you all the details about your deferred-payment balances and special financing transactions. And the Optional Payment Form gives you more control of your payments and your cash flow.
A more useful monthly statement is just one of many ways Farm Plan can help you run a more efficient, more profitable operation.
Definitions of terminology found on your statement
Regular Limit – This credit limit is used for everyday purchases like fuel, seed, parts and service, and crop protection products.
Special Terms Limit – This credit limit gives you access to special promotions like deferred payment programs for larger seasonal purchases of seed, fertilizer and crop protection products, and includes purchases made on No-Payments/No-Interest programs.
Deferred-payment balance – A balance which originates from No-Payments/No-Interest or Special Terms purchases and has no payments due for a specified period of time. The Optional Payment Form may be used to make an early payment toward these balances. Any balances due will be included in the current statement’s Minimum Required Payment.
Simplify Account Management
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1. Statement Period
An at-a-glance summary of key information, including new balance and minimum payment due.
2. Transactions Posted to Your Account
All of your previous month’s transactions listed by date and merchant.
3. Payment Remittance
Detach this form and send it along with your payment each month. This helps ensure your payment is properly posted to your account.
4. Important Messages About Your Account
Look here for information about your incentives, payments and finance charges.
5. Balance Summary
Any transactions with special financing terms will be broken out here by credit plan. If you’re not taking advantage of any special financing options you will not see a Balance Summary with your statement.
6. Updates
This contains announcements on special financing and other timely messages.
7. Optional Payment Form
When you take advantage of a Farm Plan deferred-payment program, such as No-Payments/No-Interest or Special Terms financing, this Optional Payment Form will be included in your monthly statement. It offers you the option to make an early payment toward a deferred-payment balance. Directions for submitting an optional payment are printed at the top of the Optional Payment Form.
Only use this form when making an early payment on deferred balances.
