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Organization of the FCS

Lending Institutions

• Four Farm Credit Banks (FCBs) provide loan funds to 81 Agricultural Credit Associations (ACAs) and nine Federal Land Credit Associations (FLCAs). ACAs make short-, intermediate-, and long-term loans; FLCAs make long-term loans.
• One Agricultural Credit Bank (ACB) has the authority of an FCB and provides loan funds to five ACAs. In addition, the ACB has the authority of a Bank for Cooperatives and makes loans of all kinds to agricultural, aquatic, and public utility cooperatives. The ACB is authorized to finance U.S. agricultural exports and provide international banking services for farmer-owned cooperatives.

Federal Farm Credit Banks Funding Corporation

The Funding Corporation is owned by the FCS banks. It markets the securities—chiefly bonds and discount notes—that the banks sell in the Nation’s capital markets to raise loan funds. This is how FCS institutions obtain the majority of their loan funds. These securities are offered by the Funding Corporation through a nationwide group of securities dealers and dealer banks. For more information, visit the Funding Corporation’s Web site.

Federal Agricultural Mortgage Corporation

Service Corporations

• AgVantis, Inc., provides technology-related and other support services to U.S. AgBank, FCB, and its affiliated associations. AgVantis, which was chartered by FCA on August 3, 2001, is owned by the bank and 19 of its affiliated associations.
• The Farm Credit Finance Corporation of Puerto Rico (FCFCPR) uses tax incentives offered to investors to provide low-interest funding (other than that from the Funding Corporation) to the Puerto Rico Farm Credit, ACA. Because of changes in the tax treatment of the corporation, AgFirst FCB, which is the sole owner of FCFCPR, suspended operations of FCFCPR as of December 31, 2005, although the charter remains outstanding.
• The Farm Credit Leasing Services Corporation provides equipment leasing services to eligible borrowers, including agricultural producers, cooperatives, and rural utilities. The Leasing Corporation is owned by CoBank, ACB.
• Farm Credit Financial Partners, Inc., provides support services to CoBank, ACB; CoBank’s five affiliated associations; the Farm Credit Leasing Services Corporation; five associations affiliated with U.S. AgBank, FCB; one association affiliated with AgriBank, FCB; and two FCS-related entities.
• The FCS Building Association (FCSBA) acquires, manages, and maintains facilities to house FCA’s headquarters and field office staff. The FCSBA was formed in 1981 and is owned by the FCS banks. The FCA Board oversees FCSBA’s activities on behalf of its owners.