Academic journal article ABA Banking Journal

New Ag Alliance Formed

Academic journal article ABA Banking Journal

New Ag Alliance Formed

Article excerpt

ABA and Farmer Mac have signed an agreement to provide ABA-member banks pricing discounts, easier access, and new opportunities in the farm real estate secondary market. Under the agreement, announced last fall at the ABA/Canadian Bankers Association North American Agricultural Lenders Conference in Omaha, Neb., ABA member banks will enjoy special pricing discounts on selected Farmer Mac products and the new AgPower customized loan packaging services.

"With this agreement, our members will have better access to Farmer Mac and the benefits that the secondary market for agricultural mortgages can bring to their customers," said ABA President and CEO Ed Yingling. "This is especially important for farmers and ranchers who are concerned with rising interest rates and want to manage interest rate risk by locking in long-term fixed rates."

Henry Edelman, Farmer Mac president and CEO said the alliance makes it easier for banks to access Farmer Mac and will increase the number of lenders who will have the ability to use Farmer Mac's products and pass on the benefits to their farm borrowers. …

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