|News Release||Farm Credit Administration|
1501 Farm Credit Drive
McLean, Virginia 22102-5090
For Immediate Release
Contact: Mike Stokke or Christine Quinn, 703-883-4056
Web site: www.fca.gov
Young, Beginning and Small Farmers from Oklahoma
Visit Farm Credit Administration
McLEAN, Va., May 10, 2010 — A group of young, beginning, and small farmers, who are borrowers and stockholders of Farm Credit of Western Oklahoma, ACA, recently visited the Farm Credit Administration (FCA) headquarters in McLean, Va. They came to learn about the history of FCA, the Farm Credit System (FCS), and the Farm Credit System Insurance Corporation.
Farm Credit of Western Oklahoma is one of the 88 cooperative direct-lending institutions composing the FCS, a nationwide network of banks and associations that make loans to agricultural producers and their cooperatives. FCA is the safety and soundness regulator of the FCS, and the Farm Credit System Insurance Corporation ensures the timely payment of principal and interest on insured notes, bonds, and other obligations issued on behalf of FCS banks.
The 15 members of the group participate in an educational and developmental program provided by Farm Credit of Western Oklahoma to its young, beginning, and small farmer borrowers. The program has been very successful; one former participant now serves on the association’s board of directors.
###The Farm Credit Administration is the safety and soundness regulator of the cooperative Farm Credit System and the Federal Agricultural Mortgage Corporation (Farmer Mac). FCA charters, regulates, and examines the 99 banks, associations, and service corporations of the Farm Credit System, which makes loans to agricultural producers and their cooperatives nationwide. FCA also examines and regulates Farmer Mac, which provides a secondary market for agricultural real estate loans, rural housing mortgage loans, and certain rural utility loans. Members of the FCA Board are Leland A. Strom, Chairman and CEO; Kenneth A. Spearman; and Jill Long Thompson.
Note: FCA news releases are available on the Web at www.fca.gov.