How We're Structured

Farm Credit's cooperative structure helps it fulfill the critical mission assigned by Congress – supporting rural communities and agriculture with reliable, consistent credit and financial services, today and tomorrow.

We are a nationwide network of independent, privately-owned lending institutions in all 50 states and Puerto Rico. We are cooperatives - owned by our customers - farmers, ranchers, farmer-owned cooperatives and other agribusinesses, rural utilities and others in rural America. This structure ensures customer needs always come first. And that those customers also share in their respective institution’s success.

The net income that Farm Credit institutions generate can be used in only two ways: retained within a Farm Credit institution as capital to build our financial strength, which ensures reliable service, or passed on to our customer-owners by way of patronage dividends. Those dividends effectively lower the cost of borrowing for farmers and ranchers across the country. In 2020, Farm Credit returned $1.7 billion in patronage dividends to its customer-owners. From 2010 to 2020, Farm Credit has returned more than $19 billion in patronage dividends.

Our Unique Funding Model

Although Congress created Farm Credit in 1916, Farm Credit does not receive any government funding or tax dollars. Instead, our structure reverses the traditional flow of funds. We raise money on Wall Street and bring it back to rural communities. 

Farm Credit raises funds by selling debt securities on the nation's money markets through the Federal Farm Credit Banks Funding Corporation. Farm Credit insures its debt insured through the Farm Credit System Insurance Corporation, a self-funded insurance entity. With an AA+ rating, Farm Credit debt enjoys strong demand that results in competitive interest rates on loans for our customer-owners, irrespective of financial conditions in the agriculture industry and rural America. 

Once the Funding Corporation issues debt securities on behalf of all Farm Credit institutions, Farm Credit's four regional wholesale banks, AgFirstAgriBankCoBank and Farm Credit Bank of Texas fund the individual Farm Credit associations who support farmers, ranchers and rural homebuyers. In addition to funding local retail associations, CoBank also uses the proceeds from Farm Credit debt securities to make loans directly to farmer-owned cooperatives, rural infrastructure providers and other agribusinesses. 

Farm Credit Structure - From Wall Street to Rural Investors, a funding flow graph
List of Farm Credit Organizations
Farm Credit System District Territories - Map dated January 2018 showing top 4 credit associations

The Farm Credit associations that support our more than 640,000 customer-owners are divided into four districts. Each district has its own regional wholesale bank. The associations are listed by district below and the specific territories they serve can be viewed on this map.

AgFirst Farm Credit Bank
AgCarolina Farm Credit
AgGeorgia Farm Credit
AgSouth Farm Credit
ArborOne Farm Credit
Central Kentucky AgCredit
Colonial Farm Credit
Farm Credit of Central Florida
Farm Credit of Florida
Farm Credit of Northwest Florida
Farm Credit of the Virginias
First South Farm Credit
Horizon Farm Credit
Puerto Rico Farm Credit
River Valley AgCredit
Southwest Georgia Farm Credit

AgCountry Farm Credit Services
AgHeritage Farm Credit Services
Compeer Financial
Farm Credit Illinois
Farm Credit Mid-America
Farm Credit Services of America
Farm Credit Services of Mandan
Farm Credit Services of Western Arkansas
Farm Credit Southeast Missouri
FCS Financial
GreenStone Farm Credit Services

American AgCredit
AgWest Farm Credit
Farm Credit East
Farm Credit of New Mexico
Farm Credit of Southern Colorado
Farm Credit of Western Kansas
Farm Credit of Western Oklahoma
Farm Credit Services of Colusa-Glenn
Fresno-Madera Farm Credit
Frontier Farm Credit
Golden State Farm Credit
High Plains Farm Credit
Idaho AgCredit
Oklahoma AgCredit
Premier Farm Credit
Western AgCredit
Yosemite Farm Credit

Farm Credit Bank of Texas
Ag New Mexico Farm Credit Services
AgTexas Farm Credit Services
Alabama Ag Credit
Alabama Farm Credit
Capital Farm Credit
Central Texas Farm Credit
Heritage Land Bank
Legacy Ag Credit
Lone Star Ag Credit
Louisiana Land Bank
Mississippi Land Bank
Plains Land Bank
Southern AgCredit
Texas Farm Credit Services

Service Corporations
AgVantis, Inc.
Farm Credit Financial Partners, Inc.
Farm Credit Foundations
FCC Services
Federal Farm Credit Banks Funding Corporation
SunStream Business Services


The Farm Credit Administration, an independent federal financial regulatory agency, regulates the Farm Credit System. 

Farm Credit Council

The Farm Credit Council is the national trade association representing the institutions of the Farm Credit System before Congress, the Executive Branch and others. Learn more about the Farm Credit Council.