Farm Credit Celebrates 100 Years with Presidential Message

By Karen Macdonald - July 17, 2016

Today, Farm Credit is marking the 100th year since it was established as a national network of borrower-owned financial cooperatives with the mission of supporting rural communities and agriculture with the financing they need to succeed and thrive. A century after it was formed, Farm Credit continues to fulfill this mission every day, and is poised to continue this commitment long into the future.

In recognizing the organization’s milestone, the President of the United States shared a message of appreciation, the House of Representatives and the Senate both introduced resolutions to commend and congratulate the Farm Credit system, and Agriculture Secretary Tom Vilsack lauded the organization’s role in American agriculture and spoke to its ongoing importance to the future.

“By providing loans and financial services to farmers and communities through its network of cooperatives, the FCS [Farm Credit System] plays an integral role in local economies across the United States,” said President Barack Obama. “I commend everyone working to ensure America’s farmers, ranchers and rural communities have the resources and information they need to thrive, and I wish all those celebrating this historic occasion the very best.”

The House of Representatives resolution (H.Res.591) is jointly sponsored by U.S. House Agriculture Committee Leaders Mike Conaway (R-TX), Collin Peterson (D-MN), Austin Scott (R-GA), and David Scott (D-GA) and co-sponsored by more than 160 other members of the House. The Senate resolution (S.Res.349) was introduced by Senate Agriculture Committee leaders Pat Roberts (R-KS) and Debbie Stabenow (D-MI) and co-sponsored by 56 other senators. It was unanimously passed on Friday, June 15. Both resolutions received bi-partisan support and applaud Farm Credit for helping to meet the credit and financial services needs of rural communities and agriculture.

“Farm Credit is made up of dedicated Americans who understand the needs, and champion the values, of rural America,” said Congressman Austin Scott (R-GA), chairman of the House Agriculture Subcommittee on Commodity Exchanges, Energy, and Credit. “For a century Farm Credit has been providing our farmers, ranchers and rural communities with the capital they need to build and grow successfully.”

Secretary Vilsack attended the Farm Credit 100 luncheon on June 16 in D.C. The event recognized the organization’s anniversary as well as the honorees of Farm Credit’s Fresh Perspectives search. The Fresh Perspectives program identified leaders and visionaries in agriculture and rural America that are shaping the next 100 years.

“The rural communities and the farm community trusts Farm Credit to be there in the good times, but more importantly, in the tough times,” said Secretary Vilsack. “Over the course of the last 100 years, that trust has been cemented.”

Todd Van Hoose, President and CEO of the Farm Credit Council of the anniversary, said, “We are grateful for the strong support for Farm Credit’s mission from President Obama, Secretary Vilsack, and congressional leaders and look forward to another 100 years of supporting rural communities and agriculture.”