Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MADISON, Wis. – For credit unions situated in states that rely heavily on farmers, agriculture loans have been a boon. According to a CUNA Home & Family Finance Resource Center article, credit unions in Indiana, Minnesota, and North Dakota have the highest visibility in agriculture credit. Between 1996 and 2001, lending in this area doubled for credit unions even as agencies such as the Farm Credit Services, Farm Service Agency, commercial lenders, private banks and individuals continued to make most agriculture loans. The loans have been popular at credit unions for several reasons, CUNA found: small banks have disappeared through mergers; larger, national banks have left the agricultural lending arena because they see the loans as risky; the loans are not large enough to consider pursuing; and decisions are not made locally. For the most part, the loans are used by farmers to buy machinery and other equipment, plant crops, invest in more farmland or purchase livestock. CUNA also found that members turn to credit unions for agriculture loans because of the local service; they know the lenders who live and work in the neighborhood; and they fill a financing need for small to mid-sized farms.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.