exists to support the business relationship between you and your
cooperative by providing the highest quality and most
comprehensive financial products and services. Since AgQuest is owned by
UFC and other cooperatives, when you utilize AgQuest Finance and
Insurance you are doing business with a company you own, which makes you
and your cooperative stronger! Through the AgQuest program, UFC becomes
a one-stop source for everything you need.
Contact our AgQuest representative below for a more detailed description of these financial and insurance products and services.
507-647-6606 ext 6709
The blend of products and services described below allow you to make
informed business decisions, while carefully managing risks.
Secured Companion Loans
are designed to create a dynamic link between agricultural producers
and their locally-owned and managed grain and farm supply retailers.
Companion is a traditional full-operating line of credit that rewards
the patron/producer with competitive product costs and operating
interest rates based on the customer’s volume of input purchases and the
amount of crop marketed through the participating retailer. Revolving
and second year loan options are available.
is an unsecured line of credit up to $150,000 that can be used by
patrons of your local farm supply retailer (see participating retailers
below), allowing greater flexibility to purchase input financing in one
convenient program. Companion Direct has the advantage of minimal
paperwork and quick decision time.
goes a step further than Direct, but remains a product that is used for
purchases from your local farm supply retailer (see participating
retailers below) only. Credit available is increased to up to $200,000
and a best available lien position is taken.
Real Estate Loans are
long-term loans collateralized by real estate, which generally includes
unimproved farm ground, rural residences and traditional farm sites.
Not to be used when the value of the real estate is primarily
derived from facilities/improvements.
Machinery and Equipment Loans
are intermediate term loans collateralized by all the borrower’s
machinery and equipment inventory. A priority position on machinery and
equipment is required.
are secured with real estate that is improved with a livestock facility
such as swine finishing barns and dairy milking parlors or other types
of real estate fixtures such as grain bins and machine sheds.
is one of the fastest growing ways of acquiring equipment in business
today. Leasing can put the equipment to work for you with real cash flow
advantages without using major capital investment.
Leases are through our sister company Northland Capital, to find out more Click Here!
At AgQuest we feel strongly
about the details of your policy, by answering a few simple questions
you decrease the chance for error or misunderstanding before it becomes a
costly mistake. Use our Insurance Checklist to help you prepare.
Crop Hail Insurance policies are not part of the
Federal crop insurance program. Crop-Hail coverage is purchased because
hail has the aptitude to completely destroy a major part of a planted
field while some is left untouched. A crop-hail policy can be purchased
at any time during the growing season.
MPCI (Multi-Peril Crop Insurance) policies must be
purchased prior to planting and cover loss of crop yields from all types
of natural causes including drought, excessive moisture, freeze, and
disease. Newer coverage options combine yield protection and price
protection to protect farmers against potential loss in revenue, whether
due to low yields or changes in market price.
- YP (Yield Protection)
- Replaces APH plan
- Will no longer have an RMA established price election
- Yield guarantee (bushels, pounds, etc.). Coverage levels 50%-85%
- RP (Revenue Protection)
- Revenue guarantee
- Coverage levels 50%-75% (80%-85% where applicable)
- Replaces CRC/RA plans of insurance
- GRP, GRIP (Group Risk Plan)
- County-based coverage
- Covers widespread losses
- 90% coverage available
Named Peril Products (Hail, Wind, Greensnap)
are recommended as either supplements to your MPCI or Crop Hail
policies or as standalone policies. They are designed to cover gaps in
coverage such as hazards unique to specific crops, unavailability of
MPCI and hail insurance in your area, or to cover a processor.
Adjusted Gross Revenue (AGR) crop insurance provides
producers with protection against low revenue from natural causes and
market fluctuations. The insurance covers income from agricultural
commodities, as well as income from animals, animal products, and
aquaculture species reared in a controlled environment.
AgQuest has a full offering of tools to further address threats to the profitability of the livestock sector.
LRP (Livestock Risk Protection) Insurance covers the risk of
price declines for feeder cattle, fed cattle and swine. It provides
producers an indemnity if a regional or national cash price index falls
below an insured coverage price. Similar to a put option, the LRP policy
is price insurance only, providing single-peril price risk protection
for the future sale of insured livestock.
LGM (Livestock Gross Margin) Insurance offers protection
against a decline in the feeding margin for cattle and swine. An
indemnity is paid if the insured gross margin is greater than the total
actual gross margin at the end of the insurance period.
Property and Casualty
Property and Casualty is insurance on homes, cars,
and businesses. Property insurance protects a person or business with an
interest in physical property against its loss or the loss of its
income-producing abilities. Casualty insurance mainly protects a person
or business against legal liability for losses caused by injury to other
people or damage to the property of others.
Commercial Farm / Auto
- Farm Packages
- Farm Liability
- Excess Liability
- Commercial/Personal Auto
- Fleet Auto
Choosing the level of auto insurance that’s right for you takes careful
consideration. Whether you’re looking for car insurance, motorcycle
insurance, ATV or snowmobile insurance, boat insurance, motor home
insurance, or any other kind of vehicle insurance, we can help
- Personal Auto Insurance
- Classic Collectors Auto/Antique
- Motorcycle/Scooter Insurance
- ATV/Snowmobile Insurance
- Motor Home/RV Insurance
- Boat/PWC Insurance
For property insurance including:
home insurance, renters insurance, condo insurance, townhome insurance,
landlords insurance, we make sure you get the right coverage. We will
work with you to get the specific home owners and property insurance you
need to ensure that you, your family and your home are protected.
- Homeowners Insurance (primary and secondary residences)
- Condo/Townhome Insurance
- Renters Insurance
- Landlords Insurance
- Excess Liability