The needs and challenges of small Farm Credit System associations can differ from those of large associations. One of the FCA board’s priorities is to understand those differences and to adopt policies that are appropriate for all stakeholders and are consistent with cooperative principles.
To address this priority, in early 2021, FCA requested input from small associations on the following topics:
- The role they play in the cooperative structure of the Farm Credit System
- Their mission achievement
- The unique challenges they face
In response to our request, small associations reported several challenges. For example, obtaining services — especially IT services — can be costly and difficult. Also, regulatory and examination compliance can be more challenging for small associations because of time and resource constraints.
To develop policies to address these challenges, we established a permanent small association workgroup in early 2022. The workgroup is focusing on issues related to the supervision and regulation of smaller System associations. Its initial efforts are addressing regulatory burden and examination.
The workgroup consists of employees from our Offices of Regulatory Policy, Examination, and General Counsel. It reports periodically to our senior management and directly to our board.
If you have a question, concern, or comment related to small associations, please contact [email protected]
FCA board meeting, January 13, 2022: Videorecording