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Sonoma County-based farm lender plans to acquire New Mexico business

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Sonoma County-based farm lender plans to acquire New Mexico business


American AgCredit has entered into an settlement to buy Farm Credit score of New Mexico, the Sonoma County-based farm lender introduced Thursday.

The deal is anticipated to shut in July 2023 following regulatory and shareholder approvals. The acquisition will add extra of toehold within the American Southwest for American AgCredit, the fourth largest U.S. ag lending cooperative out of greater than 65, which make up a community of borrower-owned lending establishments.

Property of the corporate fashioned as American AgCredit in 2000 will rise by $2 billion to $19 billion. Throughout the nation, the enterprise of lending to agricultural corporations accounts for $200 billion in loans.

The deliberate merger with the Albuquerque-based group appeals to the Sonoma County’s farm lending specialist’s plan to develop within the West.

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“The tradition and values of each associations align very well,” CEO Curt Hudnutt stated.

From the North Bay’s Noble Winery Administration to Wiens Wagyu in Kansas, American AgCredit serves greater than 11,000 shoppers (additionally known as shareholders) in California, Colorado, Hawaii, Kansas, Nevada, Oklahoma and New Mexico. Farm Credit score of New Mexico brings in one other 1,000 prospects to American AgCredit’s shopper base.

Hudnutt famous that challenges farmers face from perilous climate prompted by a altering local weather and the pursuit of extra innovation on the farm create an elevated want for agricultural shoppers to grab funding {dollars}. With electrical tractors and robots to cut back emissions and water use, respectively, together with the escalating prices of most items, farming has grow to be “a really costly endeavor,” he acknowledged.

“Farmers are extraordinarily resilient. (Our providers) enable (them) to climate the storm,” he stated.

American AgCredit gives monetary providers reminiscent of mortgage financing, gear leasing and crop insurance coverage. It additionally secures interest-free loans for qualifying 4-H and Future Farmers of America Ag-Youth packages, amongst faculty scholarships to advance the business of agriculture and provide extra alternatives to budding younger farm employees and entrepreneurs.

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With 720 workers presently, American Ag Credit score will add on one other 130 positions as the results of the acquisition.

“The intent is for everyone to have a job, stated Hudnutt, who got here on board in October 2020 — 20 years after the formation of American AgCredit. Earlier than Hudnutt arrived, the cooperative had merged with the Hawaii Farm Credit score in 2019 and the Farm Credit score of Southwest Kansas two years prior.

This newest deliberate merger pledges to mix a blossoming “expertise pool” with Farm Credit score of New Mexico and American AgCredit’s “expertise platform that’s innovative,” Farm Credit score of New Mexico board Vice Chairman Tom Drake informed the Enterprise Journal.

“They’re rising and want individuals,” Drake stated, including the California group’s mere measurement gives added established stability. “We’re excited in regards to the huge image of this.”

Susan Wooden covers legislation, hashish, manufacturing, tech, power, transportation, agriculture in addition to banking and finance. For 27 years, Susan has labored for quite a lot of publications together with the North County Instances, Tahoe Each day Tribune and Lake Tahoe Information. Attain her at 530-545-8662 or susan.wooden@busjrnl.com

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New Mexico Living Pet Pics June 28, 2024

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New Mexico Living Pet Pics June 28, 2024


The Garcia Subaru Pet Pics segment highlights New Mexico Living viewers’ pets. Friday’s pet of the day is Twiggs. She is an 8-month-old foster fail who was adopted from Watermelon Mountain Ranch in January by Jessica Morning. Twiggs was named for her love of sticks. She spends her days getting into things she shouldn’t, annoying her three rescue siblings, and barking at things that are not there.

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Any photographs submitted to New Mexico Living, whether original or otherwise, I hereby represent and warrant that I own, control, or have obtained all rights (including all copyrights) in and to all such materials (“Materials”) and I hereby grant the Station, without charge, the rights necessary to use all such materials in connection with the Program in any and all media now known or hereafter devised for any purpose throughout the universe in perpetuity. This also allows the Station to post videos from the Program to KRQE’s YouTube. I further confirm that the Station’s use of the Materials will not infringe upon the rights of any person or entity.

Sponsored content disclaimer: The information and advice displayed in this story are those of individual sponsors and guests and not Nexstar Media Group, inc.

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Kira Miner: Slightly drier but still relatively muggy Friday

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Kira Miner: Slightly drier but still relatively muggy Friday


Drier air will move in but it will still be relatively muggy and warm. See the latest conditions at KOB.com/Weather.

ALBUQUERQUE, N.M. — Drier air will move in Friday but it will still be hot and relatively muggy with some spotty storms and partly cloudy conditions.

Temperatures will reach the triple digits in southern New Mexico, except for Ruidoso and Silver City. The Four Corners will see 80s and 90s. Red River will get to around 75° in the northern mountains.

A greater chance of storms is coming this weekend.

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Meteorologist Kira Miner shares all the details in her full forecast in the video above.

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New Mexico joins nation-wide challenge to protect and restore water resources – NM Political Report

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New Mexico joins nation-wide challenge to protect and restore water resources – NM Political Report


New Mexico has joined the America the Beautiful Freshwater Challenge, a national partnership effort to conserve and restore freshwater resources.  President Joe Biden announced the challenge in April as part of the Earth Week celebrations. The goal is to “protect, restore, and reconnect 8 million acres of wetlands and 100,000 miles of our nation’s rivers […]

New Mexico has joined the America the Beautiful Freshwater Challenge, a national partnership effort to conserve and restore freshwater resources. 

President Joe Biden announced the challenge in April as part of the Earth Week celebrations. The goal is to “protect, restore, and reconnect 8 million acres of wetlands and 100,000 miles of our nation’s rivers and streams by 2030,” according to a press release from April.

White House Council on Environmental Quality Chair Brenda Mallory explained, during a visit to Albuquerque on Thursday, that New Mexico’s waterways will receive more focus.. A map behind her showed areas of the state where waterways are no longer protected under the Clean Water Act due to the U.S. Supreme Court’s Sackett decision. This includes ephemeral waterways as well as places like the Jemez River that run dry before connecting with larger waterways.

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The Sackett decision led American Rivers to list New Mexico’s waterways as the “most endangered river” this year. In addition to the impacts of the Sackett decision, New Mexico is one of the states without its own surface water permitting system.

Mallory said that coordinated efforts are key in areas like New Mexico where the impacts of the Sackett decision are so great.

“New Mexico is doing a lot all by itself. But having the ability to get additional focus or sending in additional resources as they’re available, is really going to be a really important part to the success,” she said.

Joining the America the Beautiful Freshwater Challenge does not necessarily mean more funding will be available to New Mexico. However, Mallory said it might make New Mexico more competitive in the future as it pursues federal resources. She said that the federal government, knowing that there’s already groundwork being done in New Mexico to restore and protect waters, may see funding projects in the state as having a greater potential impact compared to some other parts of the country.

“We are all working together to make sure we can continue to protect water,” Tanya Trujillo, the deputy state engineer, said.

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She said that New Mexico is facing many challenges with water, including both drought and flooding.

“We have to be able to take care and manage our waters during all of the conditions that we may see,” Trujillo said.

The states, local governments, Tribal entities, businesses and nonprofits that have joined the challenge all agree to a set of commitments to restore and connect wetlands and waters.

One of the original members of the partnership was the Navajo Nation.

“To Navajos and all Indigenous people, water is a sacred element,” President Buu Nygren said in a statement in April. “We in the Southwest, and especially Navajos, are aware daily how precious water is to our life, our livestock, our crops, wildlife and the natural world all around us. We are pleased to join the Biden-Harris Administration in this initiative.”

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Some of the other partners include Colorado, Amigos Bravos, the Environmental Defense Fund, the National Audubon Society, New Mexico Wild, Patagonia, the Rio Grande International Study Center and Trout Unlimited.

“But New Mexico waters are in peril. We are in the eye of a perfect storm. We are in an arid state to begin with. And climate change is hitting us hard. Today 66 percent of our state is in drought conditions,” Tannis Fox with the Western Environmental Law Center said during the event in Albuquerque.

She said that while the majority of waterways in New Mexico do not run year round, they play important roles.

Speakers highlighted how contamination released into ephemeral waterways can jeopardize the water quality in acequias and even in waters that remain protected under the Clean Water Act.

New Mexico’s participation in the challenge complements actions that are outlined in the 50-year water plan unveiled in January.

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“We’re going to be able to continue to implement our water quality protection programs, both surface water and groundwater, develop the necessary regulations that it’s going to take to make sure we can do those right and to do things like take care of our watersheds,” Trujillo told NM Political Report.



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