Farm Credit

Farm Credit refers to Farm Credit Services, which basically is a network of various financial services providers and credit companies, which assist ranchers, farmers, agricultural businesses of each type and earning level all over the United States. These companies function in an independent manner.About Farm Credit Farm Credit Services is a network comprising several financial services organizations and credit providers, which helps a large number of farmers, farming enterprises, and ranchers of different scale and income level throughout the United States.

Farm Credit Services explicitly concentrates on agriculture and has a firm commitment to assist people engaged in agriculture accomplish their distinct financial objectives.

Farm Credit System (also known as Farm Credit) is a segment of Farm Credit Services. Farm Credit System began its journey in the year 1916 with the introduction of the Farm Credit Act. It is also a countrywide network of specified service companies and financial services providers owned by the debtors. It comprises five Farm Credit Banks.

Farm Credit Services carries out its commercial operations in a number of modes- through offices, over the Internet, at home, and on farms. Farm Credit Services helps the community by a number of scholarship programs, welfare and charitable activities, and community services. The organization functions intimately with countrywide agricultural associations, for example FFA and 4H for backing up growth of young people who are looking for a career in farming.

The Structure of Farm Credit System Farm Credit System consists of the following divisions:

Wholesale-lending banks
Offer loans and other facilities to Associations
Possessed by Associations
Retail-financing cooperatives (also known as Associations)
Possessed by debtors
Offer direct loans and facilities to debtors
Farm Credit System Insurance Fund
Assures the payment of interest and principal on Farm Credit Debt Securities at the appropriate time, to the degree of availability of funds
Federal Farm Credit Banks Funding Corporation
Supervises the selling process of Systemwide securities
Farm Credit Council
Encourages and safeguards the regulative and legislative interests of System institutions
FCC Services
Autonomous arm’s-length controller
Offers commercial solutions to the Farm Credit System and other strategically aimed customers
Farm Credit Administration
Autonomous arm’s-length controller
Products and Services of Farm Credit Services The products and services of Farm Credit Services can be categorized into the following types:
Facility, equipment and vehicle leases
Operating, equipment, facility and real estate loans
Investments in Rural America
Agribusiness loans and services
Young, beginning farmer support
Electronic commerce
Record-keeping services
Tax planning and management
Life insurance
Multi-peril and crop hail insurance
Producer education
Appraisal services

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Last Updated on : 9th July 2013

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