Southern AgCredit talks with lawmakers

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Published: February 22,2010

Tags: agriculture, banking and finance, Congress

FLOWOOD — 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 CEO, 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 Sen. Thad Cochran (R-Miss.) and Sen. Roger Wicker (R-Miss.). 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 Hayman. “In addition, our board took the opportunity to educate the leaders there about Southern AgCredit and the lending opportunities in the area we serve.”

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