McLEAN, Va., June 8, 2009 — The Farm Credit Administration welcomed Congresswoman Debbie Halvorson who met today with members of the Board and senior officials at the agency’s headquarters.
Halvorson, who is a member of the House Committee on Agriculture which oversees the operations of the Farm Credit Administration, came to discuss concerns about credit availability for agricultural producers and growing stress in certain agricultural sectors such as ethanol production. She represents the 11th congressional district of Illinois.
“I was pleased to have this opportunity to meet with the Farm Credit Administration’s leadership and to learn more about how the Farm Credit System is continuing to provide needed funding for agricultural producers during this turbulent period for our economy,” Halvorson said.
The Farm Credit Administration is the federal financial regulatory agency responsible for ensuring the safety and soundness of the $162.3 billion cooperative Farm Credit System. The Farm Credit System’s mission is to provide credit to American farmers, ranchers, producers or harvesters of aquatic products, their cooperatives, and limited types of farm-related businesses.
“We appreciate Congresswoman Halvorson’s interest in both the role that the Farm Credit Administration plays to ensure the safety and soundness of the Farm Credit System and in the important service that the Farm Credit System provides as a dependable source of credit at competitive rates,” said Chairman Strom. “We look forward to a productive working relationship with Congresswoman Halvorson,” he added.
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The Farm Credit Administration is the safety and soundness regulator of the cooperative Farm Credit System (System) and the Federal Agricultural Mortgage Corporation (Farmer Mac). FCA charters, regulates, and examines the 102 banks, associations, and service corporations of the System and Farmer Mac. System institutions make loans to agricultural producers and their cooperatives nationwide. Farmer Mac provides a secondary market for agricultural real estate and rural housing mortgage loans. Members of the FCA Board are Leland A. Strom, Chairman and CEO, and Nancy C. Pellett. A third Board member position is currently vacant.
Note: FCA news releases are available on the Web at www.fca.gov.
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