Farm Credit Administration
1501 Farm Credit Drive
McLean, Virginia 22102-5090
For Immediate Release
Contact: Martha Schober or Christine Quinn, 703-883-4056
Web site: www.fca.gov
Leland A. Strom Assumes Position as Member of Farm Credit Administration Board
McLEAN, Va., December 15, 2006—Leland A. Strom of rural Elgin, Illinois, was sworn in on December 14 as the newest member of the Farm Credit Administration (FCA or Agency) Board. Strom was nominated to the post by President George W. Bush on August 1, and the U.S. Senate confirmed his nomination on December 9. He will serve the remainder of a six-year term that expires October 13, 2012.
FCA Chairman Nancy C. Pellett said, “I am pleased to welcome Lee to this Board and look forward to working with him on important issues facing the Farm Credit System.”
Strom, owner and manager of a family farm in Illinois that produces corn and soybeans, has been deeply involved in the agriculture industry in various ways, including service to the Illinois Farm Bureau, as a member of the board of Country Mutual Funds Trust, and as a member of the Federal Reserve Bank of Chicago’s Advisory Council on Agriculture, Labor and Small Business. He also served as a director of his local Farm Credit association for more than 25 years and served nine years on the board of AgriBank, FCB, one of the Farm Credit System’s district banks.
FCA Board members set policy for the Agency, which is responsible for ensuring the safe and sound operation of the banks, associations, affiliated service organizations, and other entities that collectively constitute the Farm Credit System. Board members are responsible for protecting the interests of the public and those who borrow from Farm Credit institutions or invest in Farm Credit securities.
The Farm Credit Administration is the safety and soundness regulator of the cooperative Farm Credit System. FCA charters, regulates, and examines the 108 banks, associations, and service corporations of the System. System institutions make loans to agricultural producers and their cooperatives nationwide. Members of the FCA Board are Nancy C. Pellett, Chairman and CEO; Dallas P. Tonsager; and Leland A. Strom.
Note: FCA news releases are available on the Internet. Access the FCA Web site at www.fca.gov.