Yankee Farm Credit has selected AgFirst Farm Credit Bank as its new service provider. Details are in this news release.
This announcement is significant for Yankee, and it is potentially significant for the Farm Credit System. It introduces a new model into the Farm Credit System. This is the first time that AgFirst has offered its full suite of services and technology solutions to associations in the Farm Credit System that are outside of its district. In fact, it is the first time that any bank in the Farm Credit System has done so.
We at Yankee are pleased that AgFirst is now offering this new model to the Farm Credit System, and we are excited to be the first association to sign up. This new model will help us better serve our members.
The structure of the Farm Credit System was significantly affected by the Agricultural Credit Act of 1987. (Vermont's Senator Patrick Leahy was deeply involved in shaping and passing that law as Chairman of the Senate Agriculture Committee.) System structure has continued to evolve since that time under the authorities specified in that law. This latest step in that evolution will contribute significantly to the continued strength of associations like Yankee, and I believe, the entire Farm Credit System.
