AgFirst
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AgFirst Farm Credit Bank (AgFirst) is a member of the Farm Credit System, providing wholesale funding and business services to local agricultural credit associations across 15 states, Washington D.C., and Puerto Rico.[1][2] AgFirst supports rural communities by facilitating loans and financial services for farmers, agribusinesses, and rural homeowners.
It was formed in 1995 by the merger of the Farm Credit Bank of Baltimore and the Farm Credit Bank of Columbia.[3] The lender is cooperatively owned by 16 local associations.[4] These associations, operating as Farm Credit and Ag Credit associations, provide real estate and production financing to about 80,000 farmers, agribusinesses, and rural homeowners.[5]
AgFirst is headquartered in Columbia, South Carolina in the former Bank of America Plaza.[6]
Mission
AgFirst Farm Credit Bank's mission is to support agriculture and rural America by offering financial services, technology, and business solutions to its affiliated cooperatives. It aims to strengthen the rural economy by ensuring that local lenders have the necessary resources to serve their communities effectively.[7]
Parent organization
AgFirst is part of the **Farm Credit System**, a cooperative network that provides credit and other financial services to agriculture and rural America. This system is composed of borrower-owned cooperatives working to support agricultural financing.[8]
Legislation
AgFirst Farm Credit Bank was formed through the merger of the Farm Credit Bank of Baltimore and the Farm Credit Bank of Columbia in 1995, but specific legislation authorizing this merger or the creation of AgFirst directly isn't detailed in the available references.
Partners
AgFirst works with various local Farm Credit and Ag Credit associations which are its primary partners in delivering services to rural America.
Number of employees
AgFirst Farm Credit Bank employs approximately 841 individuals.[9]
Organization structure
AgFirst's structure includes:
Leader
The leader of AgFirst is the Chief Executive Officer.[10]
Divisions
- Funding and Financial Services for providing wholesale financing.
- Technology Division for offering cutting-edge loan systems, cybersecurity, and marketing support.[11]
List of programs
- Wholesale Funding to local cooperatives.
- Farm Credit University for educational programs in agriculture lending and production.
Last total enacted budget
The specific budget figures for AgFirst are not publicly disclosed in the references provided.
Staff
With around 841 employees, AgFirst operates with a workforce focused on supporting agricultural and rural finance.[12]
Funding
AgFirst is funded through its operations within the Farm Credit System, where it serves as a wholesale bank providing funding to local associations.
Services provided
AgFirst provides services like wholesale funding for loans, technological support with advanced systems for loan management, cybersecurity, and data-driven marketing campaigns to enhance the efficiency and competitiveness of its affiliated associations.[13]
Regulations overseen
As AgFirst is not a regulatory body but part of the cooperative Farm Credit System, it does not oversee regulations but operates under the governance of the Farm Credit Administration.
Headquarters address
1901 Main Street, Columbia, South Carolina 29201, USA
History
AgFirst Farm Credit Bank was established in 1995 through the merger of the Farm Credit Bank of Baltimore and the Farm Credit Bank of Columbia, emphasizing its role in supporting the agricultural economy. The bank has been pivotal in providing financial support and technology services to local Farm Credit associations.[14]
External links
References
- ↑ Monke, Jim (May 17, 2016). Farm Credit System. Congressional Research Service. https://www.fas.org/sgp/crs/misc/RS21278.pdf.
- ↑ "View FCS Institution Directory: AgFirst Farm Credit Bank". Farm Credit Administration. http://apps.fca.gov/FCSPublicDirectory/PubViewInst.aspx?u=620000.
- ↑ Shelsby, Ted (February 2, 1995). "Farm Credit Bank merger gets shareholders' OK". The Baltimore Sun. https://www.baltimoresun.com/1995/02/02/farm-credit-bank-merger-gets-shareholders-ok/.
- ↑ "View Institutions by District". https://apps.fca.gov/FCSPublicDirectory/PubViewInstitutionsBySysDist.aspx.
- ↑ House Committee on Agriculture, United States Congress (2001) (in en). Formulation of the 2002 Farm Bill: Hearings Before the Committee on Agriculture and Its Subcommittees, House of Representatives, One Hundred Seventh Congress, First Session, May, June, July, 2001. Washington, D.C.: U.S. Government Printing Office. pp. 310. ISBN 978-0-16-066027-6.
- ↑ FCA (1995) (in en). Annual Report on the Financial Condition and Performance of the Farm Credit System. The Administration. pp. 26.
- ↑ "About". AgFirst Farm Credit Bank. https://www.agfirst.com/about/.
- ↑ "Farm Credit System". Farm Credit System. https://www.farmcredit.com/.
- ↑ "AgFirst Farm Credit Bank Company Overview, Contact Details & Competitors". LeadIQ. https://leadiq.com/company/agfirst-farm-credit-bank.
- ↑ "AgFirst Farm Credit Bank". LinkedIn. https://www.linkedin.com/company/agfirst-farm-credit-bank/.
- ↑ "About". AgFirst Farm Credit Bank. https://www.agfirst.com/about/.
- ↑ "AgFirst Farm Credit Bank Company Overview, Contact Details & Competitors". LeadIQ. https://leadiq.com/company/agfirst-farm-credit-bank.
- ↑ "About". AgFirst Farm Credit Bank. https://www.agfirst.com/about/.
- ↑ "AgFirst - Wikipedia". https://en.wikipedia.org/wiki/AgFirst.