Dwain Nunez with Farm Credit of New Mexico, integral part in Middleton’s NM Success
25 years of working together to help customers secure loans
I consider myself to have an extensive Ag background. I was raised in the farming and ranching world. I have been directly involved in farming and running a cattle operation of my own. My grandparents ran a large sheep herd, angora goat and small cow herd 28 miles West of Roswell. Our family vacations were centered around my grandparent’s agriculture operation. Our vacations were educational in ways that have made me successful in working with other ranchers and farmers. The knowledge I gained from my vacations at my grandparent’s ranch and our own farm and ranch tied directly into the direction Farm Credit needed me to go to be successful and grasp the needs of agriculture operators.
I have been with the Farm Credit System in New Mexico since May 13, 1991. I took over the Tucumcari office in 1999 then transferred to Albuquerque in 2000. I became Branch Manager of the Albuquerque/Tucumcari offices in 2004. The Albuquerque office currently has 6 credit staff and 3 operation staff. Our primary goal is to provide Agriculture related financing to the Northern half of New Mexico but we do have loans all over NM and in other states as well. Currently the Albuquerque office has approximately $250,000,000 in loan volume and the Associations loan volume has surpassed $1,500,000,000.
A large part of the Association’s success is our customer service, competitive interest rates and variety of products offered. I have been involved with numerous highly successful real estate agencies out of New Mexico, Texas and other states. Chas S. Middleton and Son (Farm and Ranch Real Estate Since 1920) is what I consider to be the most successful ranch real estate agency when it comes to selling ranch property in NM. I have had the opportunity to work with Sam Middleton on many of their sales transactions. I began working with Sam Middleton in 1991 and I take pride in the fact I have developed a professional relationship that has positively affected my personal career, Farm Credit as well as Chas S. Middleton and Son. Over the past 25 years Sam Middleton has referred literally hundreds of potential buyers/borrowers to me. I consider our relationship very successful for everyone involved. Over the past 25 years, with some confidence, I would say that I have provided financing to an average of one ranch buyer each of the 25 years.
The Farm Credit System and Chas S. Middleton have been in existence over 95 years. Farm Credit celebrated its 100th anniversary in 2016 and Chas S. Middleton and Son will celebrate its 100th anniversary in 2020. Both have been involved in providing services directly related to Agriculture.
Chas S. Middleton and Son is currently operated out of Lubbock, Texas. Sam Middleton, Charlie Middleton (Fourth Generation – Sam’s son), Jim Welles primarily concentrate on Ranches in New Mexico. I personally consider Sam, Charlie and Jim the most prolific and successful ranch real estate sales force in NM.
The Farm Credit System was formed by Congress in 1916 to provide a reliable source of credit for farmers and ranchers. Farm Credit is a Coop, owned by its borrowers. Our board members are stockholders/borrowers. We are regulated by Farm Credit Administration. The Farm Credit system has many districts nation wide. Farm Credit of NM is headquartered in Albuquerque, NM. Our parent bank is CoBank headquartered in Denver, Colorado. Our funding is highly competitive due to the large volume of securities issued by the System, allowing Farm Credit to carry agency status.
Farm Credit of New Mexico is an ACA, which is made up of Federal Land Credit Associations (FLCA) and Production Credit Associations (PCA). FCNM board pays its stockholders a cash patronage annually and it is based on the success of the Association, outstanding average loan balance to each qualifying borrower. The patronage gives the loan officers another tool to enhance the already competitive loan products.
I owe my success to my ag background, ability to develop great working relationships, very successful real estate agents that have confidence in me and Farm Credit, and finally the highly competitive products Farm Credit offers. After over 25 years working in the Farm Credit System, I retired at the end of 2016. I could not be more grateful for the opportunities, knowledge gained and friendships I’ve gained over the years.
Dwain E. Nunez