The national Farm Credit system celebrates 100 years of helping farmers and ranchers
The nation’s Farm Credit system was created 100 years ago, when in 1916 Woodrow Wilson signed the act that established the farm credit system. It was designed to provide consistent access to credit for farmers and ranchers in rural communities. Cathy Isom tells us how the Farm Credit system is continuing to help farmers today.
Farm Credit supports rural communities and agriculture with reliable and consistent credit today and tomorrow.
Farm Credit provide loans, leases and financial services to farmers, ranchers and rural businesses across the U.S. and in Puerto Rico. This focus on agriculture and rural America is the reason Farm Credit was established nearly 100 years ago, and Farm Credit has been delivering on that mission ever since – helping fund America’s food, fuel and fiber and supporting the thriving rural communities America’s farmers call home.
While the Farm Credit system has a national footprint, the lenders are local – nearly 75 independently owned and operated Farm Credit organizations provide services in the communities where they live and work. Each local Farm Credit organization is a cooperative that is owned by its customers, and has a deep understanding of agriculture in their area. This expertise enables them to understand the industry sectors they finance and provide an unparalleled level of knowledge and service to their borrower-owners.
Combined, Farm Credit organizations provide more than $217 billion in loans, leases, and related services, which is more than a third of the credit needed by U.S. agriculture. This capital helps nearly 500,000 borrower-owners plant and nurture seeds, purchase and care for livestock, buy land and equipment like harvesters and combines, build barns and milking parlors, and expand storage, packing and processing facilities. Farm Credit capital also finances agricultural cooperatives, communications, electric, power and water providers deliver essential infrastructure services to America’s rural communities.