Farm Credit System
Network of financial institutions / From Wikipedia, the free encyclopedia
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The Farm Credit System (FCS) in the United States is a nationwide network of borrower-owned lending institutions and specialized service organizations. The Farm Credit System provides more than $343 billion (as of 2021)[1] in loans, leases, and related services to farmers, ranchers, rural homeowners, aquatic producers, timber harvesters, agribusinesses, and agricultural and rural utility cooperatives.
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Congress established the Farm Credit System in 1916 to provide a reliable source of credit for farmers and ranchers.[2] As of 2020, the Farm Credit System provides more than one-third, 44.4%, of the total market share of US farm business debt.[3]
The Farm Credit System function is to provide a source of credit for American agriculture by making loans to qualified borrowers at competitive rates and providing insurance and related services.