Farm Credit celebrates 90 years of service
to agriculture and rural America

HORIZONS points the way to the next 90 years and beyond

In July of this year, we celebrate the Farm Credit System’s 90th anniversary.

Back in the early 1900s, rural America was rapidly falling behind the standard of living found in cities and towns. Social, educational, environmental and farm business issues loomed large. Farming was by far the backbone of rural America, and so farm problems were also rural problems.

During this time, securing credit at reasonable terms and rates was also difficult for American farmers. Several distinguished commissions studied the problem, and various experts and politicians proposed a number of approaches. After years of debate, Congress passed the Federal Farm Loan Act in 1916.

The act was a compromise of conflicting views about the proper federal role in financing rural America. It was visionary in terms of providing an opportunity for farmers to work together as their own bankers. And it was financially creative since it provided a finance system that linked local farm loan associations with national money markets in New York City, thereby leveling the playing field and assuring farmers and rural America of a fair share of capital for progress.

President Woodrow Wilson signed the act on July 17, 1916. Then, in the following two years, 12 federal land banks and thousands of local farm loan associations throughout the country were chartered.

That was the birth of the same Farm Credit System that today is a full-service lender and financial services provider to farmers, ranchers, forestry producers, fishermen, agribusiness, cooperatives, rural residence owners and rural utilities nationwide.

HORIZONS: Farm Credit’s birthday gift

Three years ago, a group of visionary Farm Credit System leaders got together to discuss the future. They reflected on the System’s accomplishments since 1916, and on how we can better help our customers in rural America. During those discussions, the HORIZONS project, a System-wide effort to celebrate our 90th birthday by enhancing our ability to assist rural America and agriculture, was born.

Farm Credit: Still your reliable source

For 90 years, the customer-owned Farm Credit System has dedicated its resources and expertise to the singular mission of maintaining the quality of life on farms and in rural America. To meet the needs of a dynamic agriculture and rural America, Farm Credit seeks modest and incremental changes to assure that it can continue to meet the needs of its customers.

Through HORIZONS, we are working to ensure that current Farm Credit customers and future generations of farmers and rural Americans will always have access to a specialized lender dedicated to serving their needs.

We need your support

Only Congress can change the law under which Farm Credit operates. That’s why your senators and congressional leaders will look to you, their constituents, for your answers about the need to modernize the Farm Credit Act. At some point, we will ask you to help us tell our story to Congress and other key farm and rural community stakeholders.

By proactively addressing customers’ needs through the HORIZONS initiative, Farm Credit is eager to be rural America’s and agriculture’s customer-owned financial partner for the next 90 years and beyond.  

For more information, contact us at info@farmcreditwny.com today!
 

© 1999-2006 Farm Credit of Western New York, ACA. All rights reserved.