Nearly 100 years after the U.S. Congress established Farm Credit http://www.farmcredit.com to serve as a reliable source of credit for the nation’s farmers and ranchers, Farm Credit Services of North Dakota and the entire Farm Credit System remain a sound and vital financial resource for rural America. Today marks the cooperatives networks’ 98th anniversary.
“For 98 years, the Farm Credit System has served agriculture and rural America as a dedicated, reliable, competitive, customer-owned source of credit,” said Claude Sem, CEO. “America’s agricultural producers and rural communities have benefited greatly from the vision and foresight that went into establishing the Farm Credit System.”
Today, about 40 percent of the dollar volume of outstanding loans to U.S. farmers and ranchers comes from Farm Credit. The federally chartered network is comprised of 82 privately owned institutions, including four wholesale banks and 78 direct lending associations that operate in every county in all 50 states and Puerto Rico.
Farm Credit Services of North Dakota specializes in providing credit and related services to farmers and ranchers in northwest North Dakota. In addition, the Farm Credit System provides financing for the processing and marketing activities of these borrowers, as well as to rural homeowners, certain farm-related businesses, and agricultural and public utility cooperatives.
In support of its mission of service, Farm Credit System institutions also have programs specifically focused on meeting the needs of young, beginning and small farm and ranch operators. In 2013, more than 40 percent of new loans made by Farm Credit were to small producers, those with annual gross agricultural sales of $250,000 or less.
”Today, Farm Credit celebrates its heritage as it continues to fulfill its mission to serve U.S. agriculture and rural America,” says Sem. “Farm Credit was established as a permanent system of credit that is to be responsive to the needs of our nation’s agricultural sector, and we look forward to continued success and a bright future,” he adds.
About the Farm Credit System
For nearly a century, Farm Credit has been a national provider of credit and related services to rural America through its cooperative network of customer-owned lending institutions. Farm Credit provides more than $200 billion in loans and leases to farmers, ranchers, rural homeowners, aquatic producers, timber harvesters, agribusinesses, and agricultural and rural utility cooperatives.
Our mission is to provide products and services that exceed customer expectations. For more information about the Farm Credit System, please visit http://www.farmcredit.com.
About Farm Credit Services of North Dakota
Farm Credit Services of North Dakota is a member-owned agricultural credit association providing loans to farmers and ranchers for real estate, machinery, livestock and operating needs. FCS of ND also offers life and disability and crop insurances to the rural community. FCS of ND serves 17 counties in northwest North Dakota through branch offices located in Minot, Bottineau, Carrington, Crosby, Rugby, and Williston, including Bowbells Crop Insurance (Bowbells), Schaan Crop Insurance (Rugby) and Ward County Crop Insurance (Minot). For more information, visit http://www.FarmCreditND.com.
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