farm credit system
Noun: A farm credit system is a cooperative nationwide network of financial institutions specifically designed to provide credit, loans, and related financial services to farmers, ranchers, agricultural cooperatives, and other rural businesses. It was initially established with capital from the federal government but is now owned and operated by its member-borrowers.
The term is used as a proper noun to refer to this specific, established financial network in the United States. * The Farm Credit System offers long-term loans for land purchases. * Many agricultural producers rely on the farm credit system for their operating capital. * He applied for a loan through his local association within the Farm Credit System.
- The system is often abbreviated as FCS in financial and agricultural contexts.
- The FCS released its quarterly report on agricultural lending.
- Farm Credit Administration (FCA): The independent federal agency that regulates and examines the banks and associations within the Farm Credit System.
- Agricultural credit: A broader term for any type of lending specifically intended for farming and agricultural purposes.
- Agricultural lending network
- Cooperative farm credit network
- To seek Farm Credit: A phrase meaning to apply for financing from this specific system.
- After the drought, many ranchers had to seek Farm Credit to stay in business.
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a cooperative nationwide system of banks and associations providing credit to farmers and related businesses; originally capitalized by the federal government but now owned by its members and borrowers
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