FLOWOOD, Miss. — Recent economic turmoil has made it evident that not all financial organizations are created equal. That was the message that the leaders of Southern AgCredit delivered to their representatives in Congress recently.
Five members of the Southern AgCredit Board of Directors and the cooperative lender’s chief executive officer, Joe Hayman, attended the Farm Credit Council’s Annual Meeting in Washington, D.C. in January. While in the nation’s capital, the group held private meetings with Senators Thad Cochran (seen here on the far left) and Roger Wicker (see below in the center).
During the meetings, they updated the senators on the continued financial strength of their Farm Credit association and reminded the senators about the importance of agriculture to the Mississippi economy.
The group also visited the Federal Farm Credit Funding Corporation in New Jersey, which acts as the funding agent for the nationwide Farm Credit System.
“We rely on the Funding Corporation for our funding, and this meeting allowed us to receive an update right from the source,” said Joe Hayman, chief executive officer. “In addition, our board took the opportunity to educate the leaders there about Southern AgCredit and the lending opportunities in the area we serve.”
Southern AgCredit is a Farm Credit cooperative that finances all aspects of agriculture and rural property, including loans to agribusinesses. The cooperative has $619 million in total assets and provides rural financing in 50 counties in the lower half of Mississippi.
