AgFirst Farm Credit Bank
Stored: AgFirst Farm Credit Bank
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AgFirst Farm Credit Bank is a cooperative bank within the Farm Credit System, providing wholesale lending and a suite of business services to 16 local Farm Credit associations across 15 eastern states and Puerto Rico, supporting agriculture and rural America.
Mission
AgFirst Farm Credit Bank’s mission is to deliver reliable funding and advanced technological and financial services to its association partners, enabling them to offer competitive loans and support to farmers, agribusinesses, and rural homeowners. It strives to uphold the Farm Credit System’s century-long commitment to rural economic vitality.
Parent organization
AgFirst operates under the Farm Credit System, a nationwide network of cooperative lending institutions.
Legislation
AgFirst was shaped by the Farm Credit Act of 1971, though it was specifically formed in 1995 through the merger of the Farm Credit Bank of Baltimore and the Farm Credit Bank of Columbia.
Partners
- 16 local Farm Credit and Ag Credit associations for lending
- Farm Credit University for education and training
- Community organizations for rural development initiatives
Number of employees
AgFirst employs approximately 841 staff members.
Organization structure
AgFirst’s structure supports its cooperative and service-oriented goals:
Leader
The bank is led by a **Chief Executive Officer**.
Divisions
- Loan Operations for managing funding and accounting
- Technology Services for digital banking and infrastructure
- Credit and Risk Management for financial oversight
- Marketing and Customer Support for association relations
List of programs
- Farm Credit University for training ag lenders and producers
- Wholesale Funding Program for association loans
- Technology Support Services for digital banking platforms
Last total enacted budget
AgFirst’s total assets are reported at $45 billion as of 2025, though this reflects its financial scope rather than an annual budget.
Staff
AgFirst’s 841 staff include financial experts, technology specialists, loan officers, and administrative personnel supporting its cooperative network.
Funding
AgFirst raises funds by issuing securities in national and international markets, which are then lent to its associations, operating as a cooperative owned by those associations.
Services provided
AgFirst provides wholesale funding, technology solutions like digital banking and loan servicing software, financial reporting, and customer support to its association partners, enhancing their ability to serve rural borrowers.
Regulations overseen
AgFirst does not directly oversee regulations but operates under the Farm Credit Administration’s oversight, ensuring compliance with federal lending standards.
Headquarters address
1901 Main Street, Columbia, SC 29201
History
AgFirst was formed in 1995 through the merger of the Farm Credit Bank of Baltimore and the Farm Credit Bank of Columbia, building on the Farm Credit System’s legacy established in 1916. It has since grown into a $45 billion institution supporting rural America.