ICBA News Release
FOR IMMEDIATE RELEASE
ICBA Extends Preferred Service Provider Relationship with Farmer Mac
Washington, D.C. (June 6, 2012)—The Independent Community Bankers of America (ICBA) today announced the expansion of its Preferred Service Provider relationship with the Federal Agricultural Mortgage Corporation (Farmer Mac). The renewal agreement will offer current ICBA members access to two new 15 year products with special pricing exclusive to program participants. Additionally, ICBA members new to Farmer Mac will benefit from a new streamlined enrollment process.
“Our community bank members are already taking advantage of the many features of the Farmer Mac program, including reduced rates on farm and ranch loan products and ‘on demand’ education and customer service” said Mark Scanlan, ICBA senior vice president of agriculture and rural policy. “We are pleased to be able to offer our members even more tools to enhance their competitiveness in the marketplace.”
In addition to two new products, the agreement continues to offer access to some of Farmer Mac’s most popular fixed rate loan products, which are accessed through Farmer Mac’s complimentary AgPower® Loan Origination System (LOS).
“Farmer Mac recognizes the critical role community banks play in financing America’s farms and ranches,” said Mike Gerber, Farmer Mac’s CEO. “Building on this successful program helps us support that role by providing ICBA members access to an expanded variety of specially priced products while also allowing Farmer Mac to continue its mission of providing liquidity and lending capacity to rural America.”
For more information about the program for ICBA members, visit www.farmermac.com/lenders/icba.
For more information about ICBA and community banking, visit www.icba.org.
About Farmer Mac
Farmer Mac is a stockholder-owned instrumentality of the United States chartered by Congress to establish a secondary market for qualified agricultural loans, rural housing mortgage loans, rural utilities loans and certain guaranteed portions of agricultural and rural development loans guaranteed by the U.S. Department of Agriculture. Additional information about Farmer Mac is available on Farmer Mac’s website at www.farmermac.com.