AgCarolina Farm Credit Celebrates a Century of Service
AgCarolina Farm Credit celebrates a milestone in 2016, as Farm Credit recognizes 100 years.
Formed in 1916 from the Federal Farm Loan Act, Farm Credit supports farmers and rural communities with financial and credit services. The Farm Credit system operated as a network of cooperatives that were independently owned and operated by borrowers so they were easily adaptable to agriculture’s ever-changing nature. AgCarolina Farm Credit works similarly today.
AgCarolina Credit supports the next generation of N.C. farmers, currently holding
over $1.4 billion in loans and commitments to nearly 3,000 of the state’s farmers. These loans help farmers with costs associated with land, homes, farm buildings, operating expenses, livestock, equipment and more.
To mark the anniversary, the president, House of Representatives and Senate all lauded the organization’s accomplishments, while U.S. Agriculture Secretary Tom Vilsack spoke of its importance. A Farm Credit 100 luncheon was also held in Washington, D.C. on June 16, where Secretary Vilsack talked about the honorees of Farm Credit’s Fresh Perspective search, which recognizes agriculture leaders who are shaping the next century.
– Rachel Bertone