1916 — Founding the System
President Wilson signs legislation creating the Federal Land Bank System—the first loan is made less than a year later.
1923 — New Credit, New Service, Better Funding
The Agricultural Credits Act of 1923 extends service and provides for short-term and intermediate operating credit, while the System strengthens its funding capability.
1933 — The Great Depression
In the midst of a Great Depression even greater for agriculture, the System is rescued, expanded, and helps save countless American farms.
1941 — Production for War
Three days after Pearl Harbor, officials of the Banks for Cooperatives meet in Washington to set new priorities—the entire Farm Credit System prepares to fight inflation and feed a nation at war.
1953 — An Independent Path
The Farm Credit Act of 1953 makes the Farm Credit Administration an agency of the executive branch and sets the System on a path towards independence.
1971 — Full Borrower-Ownership, New Charter
Comprehensive new legislation completely updates the charter of the newly borrower-owned System, broadening its lending authority.
1980 — Expanding Authority, Greater Responsibility
The Farm Credit Act Amendments of 1980 broaden the System's lending authority, provide for the creation of Service Organizations, and recognize the System's commitment to "YBS" farmers.
1988 — Farm Crisis:Toward Solvency and a New Structure
In the midst of an extended farm crisis, the Agricultural Credit Act of 1987—the second important piece of legislation in as many years—provides federal financial assistance and requires the System to reorganize.
1999 — Associations Restructure for the Future
After more than a decade of experimentation, the "Parent ACA" arrangement is developed, setting the pattern for subsequent mergers on the association level.
2005 — Paid in Full
Twenty years after the peak of the Farm Crisis, the System repays the last of the federal capital provided during the emergency, returning to fully borrower-owned status.
2016 — Farm Credit 100
Farm Credit marks its centennial and looks ahead to continuing serving as the financial underpinning of U.S. agriculture and rural America.