Glen Smith departs FCA to serve as under secretary for rural development at USDA
McLEAN, Va., Aug. 24, 2026 — Today, the Farm Credit Administration announced the departure of Board Member Glen Smith following his Senate confirmation as under secretary for rural development for the U.S. Department of Agriculture.
Smith was appointed to the FCA board by President Donald Trump in 2017 and later served as the agency’s board chairman and CEO from 2019 to 2022. Smith has also served as chairman of the board for the Farm Credit System Insurance Corporation (FCSIC) since January 2025.
“Glen has been a trusted colleague and an exceptional leader throughout our years serving together on the FCA board,” said Chairman Hall. “His deep understanding of rural America and steadfast commitment to young, beginning, and small farmers and ranchers have strengthened both FCA and the Farm Credit System. I congratulate him on his appointment as USDA’s under secretary for rural development and I wish him every success in his new role.”
“It’s been an honor to serve on the FCA board and work alongside Chairman Hall and the dedicated employees of FCA,” said Board Member Smith. “I’ve always believed that when rural America succeeds, our country succeeds, and I’m proud of the work we’ve done to help keep the Farm Credit System strong and support young, beginning, and small producers. As I begin this next chapter, I leave with deep appreciation for my time at FCA and complete confidence that the agency will continue to fulfill its vital mission on behalf of American agriculture and rural communities.”
Support for young, beginning, and small farmers and ranchers
Drawing on his experience as a farmer, Smith made expanding opportunities for young, beginning, and small (YBS) farmers and ranchers a hallmark of his service. As a YBS producer in the 1980s, he knew all too well the challenges YBS farmers faced.
“All of our children are involved in various degrees with production agriculture, so YBS is not just an interest, but a passion of mine,” Smith said.
He met with FCA examiners, association directors and staff, and YBS farmers whose operations were financed by the System. The board improved the usability and quality of YBS data, modernized reporting processes, and re-evaluated FCA’s role in ensuring the YBS public mission is being met. Those efforts culminated in a YBS final rule in 2023. Together, these efforts strengthened FCA’s oversight of YBS lending, convened agricultural stakeholders to identify barriers facing new producers, and advanced policies to improve access to credit and other resources.
Leadership through the COVID-19 pandemic
Smith led FCA through the unprecedented challenges of the COVID-19 pandemic. FCA earned an award in 2020 from the Partnership for Public Service which ranked the agency No. 1 among federal agencies for effective leadership during the pandemic. That leadership was enhanced by data-driven, fact-based decisions derived from the newly created Office of Data Analytics and Economics and was featured in the Spring 2022 edition of FedTech Magazine. FCA provided regulatory relief and instructed institutions to work with borrowers affected by COVID-19. His leadership helped maintain oversight and stability of the Farm Credit System. As the pandemic wound down, FCA implemented one of the first return-to-office plans within the federal government. The pandemic also reinforced the importance of strong rural health care infrastructure, leading FCA to streamline and enhance its review process for System financing of rural health care facilities.
A legacy of service to agriculture and rural America
During his tenure on the FCA board, including service as chairman and CEO, Smith helped guide the agency through a period of significant growth and change for the Farm Credit System. He championed policies that preserved the System’s strong capital foundation while modernizing FCA’s regulatory framework to address evolving financial, operational, and cybersecurity risks. The agency advanced initiatives to strengthen governance, improve transparency for cooperative borrowers, and recruit the next generation of FCA employees.
Throughout his service, Smith advanced FCA’s mission by promoting a safe and sound Farm Credit System while working to ensure it remained responsive to the evolving needs of farmers, ranchers, and rural communities. His leadership leaves the agency and the Farm Credit System stronger, more resilient, and well-positioned to continue serving agriculture and rural America.
“As a lifelong farmer, businessman and resident of rural America, I deeply appreciate this wonderful opportunity the president has given me to continue to work on behalf of my fellow farmers, ranchers, business owners to help build stronger rural communities,” Smith said. “I’m excited to join the great team that Agriculture Secretary Brooke Rollins has assembled and look forward to this new challenge.”
Smith is a fifth-generation farmer and businessman from Atlantic, Iowa. He and his wife, Fauzan, have four adult children and six grandchildren. Their son, Peter, manages the family farm and business.
Continuity of FCA and FCSIC operations
Following Smith’s departure, the FCA and FCSIC boards will each have one remaining member. Both agencies will continue carrying out their core statutory responsibilities. FCA will continue its supervisory, examination, enforcement, and approval activities, although actions requiring a board quorum, such as issuing regulations and adopting board policy statements cannot be taken until an additional board member is confirmed. FCSIC does not have a statutory quorum requirement and will continue carrying out all of its responsibilities with one remaining board member.