Financial Services

First South provides more than just loans to our member-borrowers.  We offer a variety of financial services to help keep your farm running even during the most challenging times.

Insurance

As an agricultural lender, we understand the financial risks of farming, and we know that having the right insurance in place can protect your livelihood and family.

Insurance is a risk management tool that can work to protect your income and maximize your profitability. Low yields and harmful weather events can be devastating. When faced with these challenges, insurance enables farmers to meet both personal and business obligations. First South has full-time, experienced agents to help you meet your goals by offering a complete selection of agricultural insurance products.

Crop and Livestock Insurance

Our crop insurance specialists are non-commissioned professionals who work exclusively in agriculture and work closely with you to analyze your needs. Partnering with several insurance companies allows us to offer customized coverage options for your farming operation.

The benefits of Crop and Livestock Insurance include:

  • Protection against natural disasters and more.
  • Improved access to credit.
  • Guaranteed minimum level of income.
  • Enhanced peace of mind.

Types of Crop and Livestock Insurance

Yield Protection (YP)

First South's Yield Protection policies insure against losses due to natural causes such as draught, excessive moisture, frost, wildlife, insects and disease. They guarantee a minimum level of income in case of low yields brought about by these types of unforeseen circumstances. Premiums are calculated based on your farm's actual production history (APH) over the previous 4-10 consecutive crop years.

Revenue Protection (RP)

First South's Revenue Protection gives you all the coverage of Yield Protection with added protection against loss of revenue caused by yield and/or market fluctuations. It offers comprehensive protection with a specific dollar amount guarantee.

Crop Hail Coverage (CH)

Crop Hail Coverage protects against damage due to hail as well as fire and lightning. It also protects from damage occurring during transit.

Pasture, Rangeland, Forage (PRF) and Apiculture Rainfall Index (API)

These insure against widespread loss of production of the insured crop in a designated area called a grid. Coverage is based on the experience of the grid rather than the entire farm. Lack of precipitation is the only cause of loss covered by Rainfall Index.

Livestock Risk Protection (LRP)

Cattle, sheep and swine may be insured under First South's LRP program. These policies provide against declining market prices. Availability of coverage may vary by area.

Life Insurance

First South also offers competitively priced life insurance designed to cover a borrower's entire debt. Policies protect dependents (or loan cosigners) from the financial burden of outstanding debt, and we are pleased to offer such peace of mind as a service to our members.

Equipment Leasing Related to Agriculture

The expert loan officers at First South can answer any questions you may have about leasing equipment and vehicles such as pickup trucks, utility vehicles, farming equipment and more.

Got questions about First South's insurance options? Contact us today!