Farm Credit East
Banks And Savings And Loan
Farm Credit East is dedicated to serving the agricultural credit and financial needs of those in the business of agriculture, including farmers, nursery and greenhouse operators, forest products producers, fishermen, lobstermen, part-time growers, agribusiness owners and country homeowners.
We are a part of the Farm Credit System, a nationwide agricultural network providing credit and affiliated services to those in agriculture and related industries across the United States. Since 1916 the Farm Credit System has supplied the nation's agricultural industry with nearly one-third of its credit needs.
How we operate: Farm Credit East is a cooperative. We are owned by more than 16,000 customers in our seven-state territory and governed by a board of directors. In addition to customer-elected directors, the board includes appointed directors who bring additional skills and capabilities to the boardroom.
Where we get funds: Unlike commercial banks, Farm Credit institutions do not take deposits. Instead, money is raised by selling system-wide bonds on Wall Street. The proceeds are then channeled through Farm Credit banks and Associations to agricultural producers and cooperatives. Because of the market acceptance and attractiveness of Farm Credit securities and the volume of funds raised, Farm Credit East is able to offer competitive interest rates and unlimited amounts of capital to the agricultural sector.