The Farm Credit System is a group of banks and associations that come together to help boost the agricultural system. This group of banks provides credit to both consumers and businesses in rural areas of the country. The
Farm Credit System helps businesses both small and large to help them have the capital necessary to thrive.
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The Ins and Outs of the Farm Credit System
The Farm Credit System is made up of more than 70 independently owned and operated financial institutions. Each of the institutions within FCS offers financial assistance to businesses in the agricultural industry, including farmers, ranchers, and commercial fishers.
The FCS also assists rural homebuyers get the financing they need to buy a home. They help borrowers that traditional lenders would see as ‘risky’ get the home they want/need in a rural area. The FCS not only helps consumers get into homes that otherwise would be unable to, but they also help rural areas thrive.
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Each rural area has a Farm Credit System organization that is locally owned and operated. This allows each community to have specialists that know and understand the needs of the area working for them. Each FCS is owned by its customers, which have first-hand knowledge of agriculture in the area. With this expertise, businesses and consumers not only get top-notch customer support, but they get the financing that they need to thrive in their area.
In total, Farm Credit Services writes more than $200 billion in agricultural financing. This accounts for more than 33% of the agriculture credit in the United States. This financing helps half of a million farmers and other agricultural business owners get the financing they need.
Without the FCS, finding proper financing for rural businesses and/or homes would be difficult. The Farm Credit System makes the financing that is necessary accessible for many borrowers that need it. The financing also helps make sure that the agricultural industry and rural areas of the country have good and stable economies.
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