Tuesday, 03 September 2024 14:25

Heat on banks

Written by  Milking It

OPINION: Milking It understands the parliamentary inquiry into banking is already having an impact.

Reports are coming in of some South Island farmers being offered loans with interest rates of 5.7% and 5.8%. Just for context, most farmers are on interest rates over 8%.

Whether the banks are feeling the heat or it's just a public relations exercise remains to be seen.

Federated Farmers says the banks have a long way to go before they earn back the trust of farmers.

A Federated Farmers survey shows that farmers' satisfaction with their banks has dropped to its lowest levels since their surveys began in May 2015. Six years ago, around 80% of farmers were satisfied with their bank, but that number has since plummeted to just 51%.

More like this

Dairy unity

OPINION: A last-minute compromise ensured that the election of the new Federated Farmers national dairy chair wasn't a repeat of the Super 15 rugby final - Canterbury versus Waikato.

That old chestnut

OPINION: Just as it's healthy for cockies to get out of the shed and off the farm occasionally to get a fresh perspective, Milking It reckons some academics would benefit from spending a few days in the real world.

Featured

National

Machinery & Products

» Latest Print Issues Online

Milking It

Dairy unity

OPINION: A last-minute compromise ensured that the election of the new Federated Farmers national dairy chair wasn't a repeat of…

That old chestnut

OPINION: Just as it's healthy for cockies to get out of the shed and off the farm occasionally to get…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter