Today, the Farm Credit System provides more than $90 billion in loans to more than a half million borrowers, including farmers, ranchers, rural homeowners, agricultural cooperatives, rural utility systems and agribusinesses.

Unlike commercial banks, system banks and associations do not take deposits. Instead, loanable funds are raised through the sale of Systemwide bonds and notes in the nation's capital markets.

There are four regional Farm Credit Banks in the Farm Credit System, and one Bank for Cooperatives. Typical services offered by the regional banks and associations include real estate loans, operating loans, rural home mortgage loans, credit-related life insurance, crop insurance and various financially related services such as farm record-keeping and financial planning.

Long-term mortgage loans to farmers and ranchers are generally made by Farm Credit Banks, Federal Land Bank Associations or Federal Land Credit Associations. Short- and intermediate-term loans are generally made by Production Credit Associations. In some areas, these lending entities have combined to form Agricultural Credit Associations which provide both long- and short-term loans.

Trade Association
The Farm Credit Council is the national trade association of the Farm Credit System. The Council, which has offices in Washington, D.C., and Denver, CO., represents the system's legislative and regulatory interests. For more information, contact Mildred Cooper, Director of Communications, at 202-879-0846.

Service Entities
Farm Credit Leasing
provides equipment leasing services to eligible borrowers, including agricultural producers, cooperatives and rural utilities. Headquartered in Minneapolis, Minn., it is owned by System banks and has nine sales offices nationwide. For more information, contact Greg Davis at 1-800-225-8325.

The Federal Farm Credit Banks Funding Corporation, located in Jersey City, N.J., manages the sale of Systemwide bonds and notes in the nation's capital markets. Systemwide debt securities are the primary source of loan funds for the System and are the joint and several liability of all System banks. For more information, contact Daniel Bienz, Vice President, at 201-200-8000.

Regulatory Agencies
The Farm Credit Administration, based in McLean, Va., is the independent federal regulator responsible for examining and ensuring the safety and soundness of all System institutions. It is directed by a three-member board nominated by the president and confirmed by the Senate.

The Farm Credit System Insurance Corporation was established in 1988 primarily to insure timely payment of principal and interest on Systemwide debt securities.

Other Farm Credit Banks