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Friday, June 5, 2009

The "System"

On the ArborOne website, and in most of our press releases, we state that ArborOne is "a proud member of the Farm Credit System". But what does that mean?

First, a little history... The Farm Credit System was created in 1916 by Congress and provides more than one third of the credit needed by those who live and work in rural America. As ArborOne, we operate as a cooperative and are an independent financial institution with our own capital and board of directors.

ArborOne, along with 21 other associations, are the owners of AgFirst Farm Credit Bank, our funding bank. As owners of AgFirst Farm Credit Bank, we utilize the same accounting and systems technology as other associations in our district. This gives us access to top of the line technology and systems that we might not otherwise be able to afford.

A benefit to our member-owners is that as a System, we are able to tap financial markets world-wide through our funding agent, the Federal Farm Credit Bank Funding Corporation. It is their responsibility to provide money for all system associations nationwide.

As a System, all associations share the same goal, to be the provider of credit for rural America. We work together through our trade organization the Farm Credit Council in lobbying and other national messaging efforts. The Council provides a positive voice for Farm Credit associations and other constituents.

We are regulated by the Farm Credit Administration and as a System we pay for this regulation.

Farm Credit Council Services provides a broad range of services for our association, including various insurance, training and development opportunities that would be much more costly if we had to foot the bill ourselves.

The Farm Credit System is working together to provide a unified look. This includes web presence and overall system branding. Stay tuned for the rollout of the new Farm Credit System website in July.

Next timeā€¦ What is the bio star and what does it represent?

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