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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.