Latest Cultivate Press Release

RESPONDING TO RISING LAND PRICES IN CO MEATH CULTIVATE’S FARMER FRIENDLY FINANCE

Over the last 5 years agricultural land prices have increased by one third in the Republic of Ireland – according to last week’s Irish Farmers Journal land price survey. Perhaps more staggering is the price volatility such as in County Meath where land prices have increased by 12.2% for the same period.

Two of the key driving forces behind this surge in demand are:

• Dairy farmers looking to buy or lease land due to tighter nitrates rules.
  • In very basic terms, some dairy farmers need to buy/lease more land or reduce cow numbers to comply with the new nitrates rules.
• Higher forestry planting targets
  • The Government’s climate action plan targets a forestry cover of 18% by 2050

As farming in Ireland becomes more sustainable, Cultivate Credit Unions are ready to support farmers who need to purchase land, adopt new green technologies or upgrade farm machinery.

“Cultivate Credit Unions understand the critical role farming plays in generating economic activity in towns and villages throughout rural Ireland” said Dean Murphy of St Colmcilles (Kells) Credit Union. “We continue to innovate by offering farmers Cultivate loans which are designed to support the growth and development of their farm business which includes the purchase of farmland”.

Cultivate Credit Union’s Farming Loans:

• Farmers do not need to be an existing credit union member to avail of a loan
• Unsecured funding of up to €75,000 over 10 years
• Quick and easy application process
• Competitive interest rates tailored for the farming sector
• Flexible repayment plans that makes sense for the farmer

For any farmer who wants to find out more about how to access a Cultivate loan, they can go to www.kellscu.ie or call Dean Murphy on 046 9240299 our Cultivate Lending Officer who will be happy to help you.

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