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Agricultural Credit Association: Difference between revisions
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{{Organization | {{Organization | ||
|OrganizationName= Agricultural Credit Association | |OrganizationName=Agricultural Credit Association | ||
|OrganizationType= Co-operatives | |OrganizationType=Co-operatives | ||
|Mission= | |Mission=Provide farmers, ranchers, rural residents with reliable credit for ag operations, housing, businesses to promote growth, sustainability of rural America | ||
|OrganizationExecutive= Various (e.g., President, CEO) | |ParentOrganization=Farm Credit System | ||
|TopOrganization=Department of Agriculture | |||
|CreationLegislation=Agricultural Credit Act of 1987 | |||
|OrganizationExecutive=Various (e.g., President, CEO) | |||
|Services= Agricultural Loans; Rural Housing Loans; Farm-Related Business Financing | |Services=Agricultural Loans; Rural Housing Loans; Farm-Related Business Financing | ||
}} | }} | ||
'''Agricultural Credit Association (ACA)''' is a type of institution within the [[U.S. Farm Credit System]], focused on providing credit services directly to farmers, ranchers, producers or harvesters of aquatic products, rural residents for housing, and certain farm-related businesses. ACAs are structured to merge the capabilities of Federal Land Bank Associations (FLBAs) and Production Credit Associations (PCAs), enabling them to offer a wide range of credit products. | |||
It includes: | |||
* [[AgStar Financial Services]] | |||
*[[AgStar Financial Services]] | |||
* [[Northwest Farm Credit Services]] | * [[Northwest Farm Credit Services]] | ||
* [[Farm Credit of New Mexico]] | * [[Farm Credit of New Mexico]] | ||
==Mission== | ==Mission== | ||
The mission of ACAs is to deliver financial solutions that support the agricultural community and rural residents. By offering short-, intermediate-, and long-term loans, ACAs help farmers and rural businesses invest in their operations, improve their housing, and contribute to the economic vitality of rural areas.<ref>{{cite web |url=https://www.fca.gov/about/what-we-do/fcs-institutions |title=Description of FCS Institution Types |publisher=Farm Credit Administration |access-date=January 27, 2025}}</ref> | The mission of ACAs is to deliver financial solutions that support the agricultural community and rural residents. By offering short-, intermediate-, and long-term loans, ACAs help farmers and rural businesses invest in their operations, improve their housing, and contribute to the economic vitality of rural areas.<ref>{{cite web |url=https://www.fca.gov/about/what-we-do/fcs-institutions |title=Description of FCS Institution Types |publisher=Farm Credit Administration |access-date=January 27, 2025}}</ref><ref>https://www.fca.gov/bank-oversight/description-of-fcs-institution-types</ref> | ||
==Parent organization== | ==Parent organization== | ||
Each Agricultural Credit Association is part of the | Each Agricultural Credit Association is part of the Farm Credit System, a cooperative network that supplies credit and financial services to agriculture and rural America.<ref>{{cite web |url=https://www.farmcredit.com/ |title=Farm Credit System |publisher=Farm Credit System |access-date=January 27, 2025}}</ref><ref>https://www.fca.gov/bank-oversight/about-banks-and-associations)</ref> | ||
==Legislation== | ==Legislation== | ||
The creation of Agricultural Credit Associations was authorized by the | The creation of Agricultural Credit Associations was authorized by the Agricultural Credit Act of 1987, which facilitated the merger of Federal Land Bank Associations with Production Credit Associations to create ACAs.<ref>{{cite web |url=https://www.fca.gov/about/what-we-do/fcs-institutions |title=Description of FCS Institution Types |publisher=Farm Credit Administration |access-date=January 27, 2025}}</ref><ref>https://www.fca.gov/bank-oversight/description-of-fcs-institution-types)</ref> | ||
==Partners== | ==Partners== | ||
* Various Farm Credit Banks for funding | |||
* Other Farm Credit System institutions for cooperative initiatives | |||
==Number of employees== | ==Number of employees== | ||
| Line 52: | Line 44: | ||
===Leader=== | ===Leader=== | ||
Leadership roles within ACAs include titles like | Leadership roles within ACAs include titles like President or CEO, often depending on the specific association. | ||
===Divisions=== | ===Divisions=== | ||
* Loan Origination and Servicing for handling loan applications and management. | |||
* Member Services for supporting members with additional financial needs. | |||
==List of programs== | ==List of programs== | ||
* Short-term Loans for operational needs. | |||
* Intermediate-term Loans for equipment or livestock. | |||
* Long-term Loans for real estate and large capital expenditures. | |||
==Last total enacted budget== | ==Last total enacted budget== | ||