Blog

  • Huge FCS Merger Leaves Compeer Financial High on the Hog

    Farm Credit Watch • 08.01.17

    On June 27, the Farm Credit Administration (FCA) Board gave approval for the creation of Compeer Financial through a merger of Badgerland Financial, 1st Farm Credit Services and AgStar Financial Services. “The merger, proposed last September, was finalized on July 1 after 18 months of discussion and voting by the new organization’s 43,000-plus member-owners, of whom about 16,000 are in Wisconsin,” reported The Wisconsin State Journal. “Its ‘bread and butter service’ is lending, though Compeer also provides crop insurance, appraisals, and tax and accounting services in Wisconsin.”
    The issues arising from this merger are manifold.

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  • Cap and Frown: FCS targets bankrupt college

    Farm Credit Watch | Risk • 07.26.17

    Flash back to May 2013: St. Joseph’s College in Rensselaer, Indiana, is facing “a ‘dire’ financial situation.” The $15 million to $20 million offered by the Mayo Clinic was not enough — St. Joseph’s College needed “a total cash influx of $100 million,” according to Inside Higher Ed. Between a rock and a hard place, […]

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  • Credit where credit’s due

    Farm Credit Watch | Waste • 06.27.17

    If it were a bank, the Farm Credit System (FCS) would be the seventh largest in the country. At $320 billion in total assets, the FCS has grown beyond its mission. How did it get there?
    There are many reasons, but one’s certain: it has neglected the credit needs of young, beginning and small farmers.

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  • Farm Credit’s Lax Standards

    Neglect | Risk | Waste • 06.12.17

    Congress needs to act. The FCS has shown, repeatedly, that it cares more about profits than it does farmers, especially young, beginning and small farmers. Congress, take action: keep the FCS in line by cracking down and making sure that a certain percentage of loans are for small, young and beginning farmers. Future Americans will thank you.

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  • Let’s Really Help Farmers

    Farm Credit Watch | Neglect | Risk | Waste • 05.18.17

    US Rep. Jenkins’ bill is a step in the right direction, and the RFC team endorses it with enthusiasm. By supporting this bill, members of Congress can take action to relieve small farmers and revitalize rural America. The stage is set: Congress, pass this bill! Farmers, ranchers and producers across the country will thank you for it.

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  • You pay your fair share of taxes. Why doesn’t Farm Credit?

    Neglect | Risk | Waste • 05.01.17

    While ordinary Americans and businesses across the country have paid their fair share of taxes, the Farm Credit System (FCS) has continued to get away with paying a pitifully low tax rate for 2016. 3.61 percent.

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  • Big Surprise! Farm Credit Faced Yet Another Oversight Hearing

    Farm Credit Watch | Neglect | Risk | Waste • 04.05.17

    The Farm Credit System (FCS) and the Farm Credit Administration (FCA), only a month after being exposed at the House Appropriations Agriculture Subcommittee oversight hearing, were called before the House Committee on Agriculture for a “review”. Review is a bit of an understatement; if the FCS and the FCA have any more reviews like this then they’ll suffocate under the weight of the criticism.

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  • Farm Credit Faced an Oversight Hearing – Again

    Farm Credit Watch | Neglect | Risk | Waste • 03.13.17

    Rep. DeLauro has said what many have thought: Congress desperately needs to reform Farm Credit. So far, multiple committees in both the House and the Senate have decided that Congress needs to take a closer look at the FCS and the FCA. And it should, because the FCS is on the precipice: it is growing larger every day, small farmers are being neglected and the FCS continues to make loans outside of its mission. Congress needs to act now.

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  • The Farm Credit System (FCS) has been having some serious trouble with the law.

    Farm Credit Watch | Neglect | Risk | Waste • 03.08.17

    If the FCA won’t step in, then Congress needs to. Congress – whether it’s the House or Senate Committees on Agriculture of the House Committee on Oversight and Government Reform or the Senate Committee on Homeland Security and Governmental Affairs – needs to act before it’s too late.

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  • Did Farm Credit East Commit a Crime?

    Farm Credit Watch | Neglect | Risk | Waste • 02.06.17

    For now, it looks like Farm Credit East has temporarily evaded justice, and the FCS and the FCA have escaped blame for their negligence. But they’ll soon reap what they’ve sewn.

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