Competition and Consolidation in the Farm Credit System

David Freshwater

Review of Agricultural Economics, 1997, vol. 19, issue 1, 219-227

Abstract: The organizational structure of the lending industry has experienced important changes in terms of consolidation, function, and redefinition of the types of services provided borrowers. The Farm Credit System (FCS) is subject to these same forces, and there are conflicting visions of the best way to organize the system for the future. The result of these conflicts is that different parts of the FCS are experimenting with alternative lending strategies and organizational structures. In addition, the Agricultural Credit Act of 1987 opened the potential for competition among parts of the FCS. As a result, an entity that once had a single systemwide philosophy and a standard approach to doing business must reinvent itself. My argument in this paper is that these changes are providing an experimental environment that may ultimately result in the FCS better serving farmers' credit needs.

Date: 1997
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