Union surveys members on banks

NFU Scotland has reissued its survey to members regarding their current relationship with their banking providers and the costs they face in obtaining or maintaining credit and overdraft facilities.

With a difficult harvest in progress and prices of feed, fertiliser and fuel all rising at extreme rates, some NFUS members have expressed worries about the financial pressure and demands being placed on their farming businesses.

The Union has previously surveyed its membership on banking and credit arrangements in December 2008 and March 2011.

The Union will be meeting with the Agriculture committee of the Scottish Clearing banks in late autumn to discuss the results of the survey and the lending conditions affecting its members.

NFU Scotland Chief Executive Scott Walker said: “The pressures on many farm businesses are building. The poor weather means that harvest is proving to be time consuming and costly. In many sectors, marketplace returns are poor to average and for those keeping cattle, sheep, pigs or poultry, feed costs are rocketing leaving prospects for autumn and winter gloomy. Support from the banking sector to the industry may be more important than ever this coming year.”