Farm Credit Illinois is the business featured this month in the Spotlight on Business, sponsored by the Red Bud Chamber of Commerce.
For 100 years, they have supported rural communities, farm families and agriculture with reliable, consistent credit and financial services. Farm Credit was established when President Woodrow Wilson signed the Federal Farm Loan Act on July 17, 1916. Since then, the national network of Farm Credit cooperatives has provided American farm families with the financing they need to start, sustain and grow their agribusinesses. Today, Farm Credit’s system has 74 farmer owned association cooperatives which provide $235 billion in loans, leases and related services. This is more than one-third of the credit needed by U.S. agriculture.
Farm Credit Illinois is a farmer owned and directed agricultural lending cooperative serving 8,500 farm families, agribusinesses and rural landowners in the southern 60 counties of Illinois with competitive and flexible financing and risk management expertise. The association manages a $4 billion loan portfolio, sells 1.4 million acres of crop insurance coverage and employes 210 staff based in the Mahomet central office and 14 regional office locations.
Farm Credit’s unwavering commitment to Illinois agriculture and rural communities extends beyond providing financial services. From encouraging the next generation of farmers to helping educate consumers about the importance of agriculture, Farm Credit helps maintain healthy rural communities, a vibrant agriculture industry and sustainable family farm businesses which pass from generation to generation.
Farm Credit Illinois strives to return a portion of its net earnings to the rural marketplace its team members serve. These gifts are invested in youth development, ag-vocacy, community charities and outreach programs. In 2004, Farm Credit began offering agriculture scholarships to high school seniors pursing an agricultural career. Nearly $300,000 has been awarded to 275 students throughout southern and central Illinois since the program’s start. Farm Credit also provides community improvement grants to 4-H clubs and FFA chapters implementing projects that provide visible and tangible value in their communities, making them better places to live. Since 2008, more than $60,000 of grant funding has been awarded.
Team members at Farm Credit are committed to the communities in which they live, work and serve and have a goal of contributing 20,000 cumulative volunteer service hours by 2025. Service hours include hours delivered towards youth and young farmer development, ag-vocacy and community service. These volunteer efforts contribute to a vibrant agriculture industry and healthy rural communities.
Each year during harvest time and in conjunction with National Farm Safety and Health Week, Farm Credit also provides meals in the field to local farm families as a way of promoting safety.
The Red Bud Farm Credit branch is located at 111 Kennedy Drive and has seven employees. They are open from 8 a.m. to 4:30 p.m. Their phone number is 618-282-6673. For more information about Farm Credit Illinois, visit their website at www.farmcreditIL.com.