July 17, 1916.
That is the date in history when President Woodrow Wilson signed legislation creating the Federal Land Bank System, what we now know as the Farm Credit System.
One hundred years later, as we reflect on our past and consider the future, it is easy to see how times have changed. We have seen advances in technology, from medicine to cars, computers and more. Our homes and social lives have changed… moving at a faster pace, continually doing more with less. With so many transformations, it is nice to reflect on ‘simpler times,’ remembering American life that now seems so quaint. In fact, it is almost humorous to think that following President Wilson signing the Federal Farm Loan Act, the very first loan made was for just $4,691.66.
What seems like a small amount in today’s economy was enough back then to help a family farm, and lay the ground work for a system that now serves approximately 500,000 borrower-owners across the United States. Members who today, plant and nurture seeds, set country roots and raise families, toil land and maintenance equipment, raise and care for livestock, build barns and milking parlors, and expand storage, packing and processing facilities, all with the help of Farm Credit.
