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What is Federal Farm Credit Banks mean?
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 $304 billion in loans, leases, and related services to farmers, ranchers, rural homeowners, aquatic producers, timber harvesters, agribusinesses, and agricultural and rural utility cooperatives.
Congress established the Farm Credit System in 1916 to provide a reliable source of credit for farmers and ranchers. Today, the Farm Credit System provides more than one-third of the credit needed by those who live and work in rural America.
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.
referencePosted on 09 Sep 2024, this text provides information on Miscellaneous in Business related to Business. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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