Show COOP CO OP BANKS ANNOUNCE LOWER INTEREST RATES interest rates on commodity commod lt y loans for or operating purposes made by the banks for cooperatives to farmers f a r m c r s cooperative marketing and purchasing associations have bave been reduced one halt half of one per cent according to an announcement by W D ellis bills acting pre ident ot of the berkeley bank tor for c cooperatives ro serving california utah and nevada the me reduction now puts the interest rate on commodity loans at 1 per pei cent and on operating capital loans at 2 per cent the rate on facility loans made iby by the coop co op banks will remain at 4 per cent the reduction follows a drop in the discount rate of the federal intermediate credit banks and will be effective on all new money lent on or after february 24 bills states the lower lover cost of money resulting from the demand for short term agricultural paper la Is being passed on to farmers associations soc lations obtaining credit through the banks for cooperatives |