Show reduces interest rate Wendell N N. N Anderson manager manager manager man man- ager of the Federal Land Bank Ban Association of Richfield an announced announced announced an- an recently that effective March 16 1971 the Federal Land Banks Bank's interest rate on existing loans written at the higher rate is also reduced Land Banks Bank's new-loan new interest rate Is reduced to 80 percent from 85 percent The effective interest rate on existing loans written at the higher rate is also reduced to 80 percent Commenting on the action Mr Anderson stated that the lower interest rate and the voluntary reduction of ot Interest rate on existing loans is in line with the established policy of theLand the theLand theLand Land Bank to provide farmers and ranchers with term long-term real estate loans at the lowest possible cost consistent with sound business The Banks Bank's new loan Interest rate was reduced from 90 percent to 85 percent on January 20 The recent levelIng leveling leveling level level- ing off of of ot the banks bank's money costs and the favorable outlook outlook outlook out out- look for 1971 have made it possible now for the Land Bank to offer the further reduced rate to agriculture The Federal Land Bank Association Asso Asso- of Richfield is one of 34 associations which make and service Land Bank loans in Arizona California Hawaii Nevada and Utah Directors of the local association are J. J Keller Christensen Gunnison Lindau Landau Foremaster St. St George Martel Anderson Junction Dale Pearson Delta and Francis Francis Francis Fran Fran- cis J. J Gurney Salina Utah |