[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 591 Introduced in House (IH)]

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114th CONGRESS
  2d Session
H. RES. 591

Commending the cooperative owners and the employees of the Farm Credit 
     System for their continuing service in meeting the credit and 
     financial-services needs of rural communities and agriculture.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 28, 2016

 Mr. Conaway (for himself, Mr. Peterson, Mr. Austin Scott of Georgia, 
  and Mr. David Scott of Georgia) submitted the following resolution; 
           which was referred to the Committee on Agriculture

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                               RESOLUTION


 
Commending the cooperative owners and the employees of the Farm Credit 
     System for their continuing service in meeting the credit and 
     financial-services needs of rural communities and agriculture.

Whereas the Farm Credit System was established by Congress through the Federal 
        Farm Loan Act of 1916, signed into law on July 17, 1916, by President 
        Woodrow Wilson, making 2016 the centennial anniversary of the founding 
        of the cooperatively owned and operated Farm Credit System;
Whereas recognizing that a prosperous, productive agricultural sector is 
        essential to a free Nation, Congress declared through the Farm Credit 
        Act of 1971, as amended, that the Farm Credit System be designed as a 
        permanent means to support the well-being and prosperity of the Nation's 
        rural communities and agricultural producers of all types and sizes;
Whereas Congress designed the Farm Credit System as a network of cooperatives, 
        independently owned and controlled by its borrowers, responsive to their 
        individual needs for credit and financial services and continually 
        adapting to meet the changing needs of rural communities and 
        agriculture;
Whereas the Farm Credit System today plays a vital role in the success of United 
        States agriculture and the economic vibrancy of rural communities 
        throughout all 50 States and Puerto Rico, providing more than 
        $210,000,000,000 in loans to more than 500,000 customers;
Whereas the Farm Credit System actively supports the next generation of 
        agricultural producers by annually providing billions of dollars of 
        loans to young and beginning farmers and ranchers and through its 
        ongoing financial support for organizations like 4-H and Future Farmers 
        of America; and
Whereas Congress has provided for the appropriate safety and soundness oversight 
        of the Farm Credit System through the Farm Credit Administration, an 
        independent Federal agency, whose operating costs are funded by the 
        System and for the protection of investors in System bonds through the 
        Farm Credit System Insurance Corporation funded by premiums paid by the 
        Farm Credit System: Now, therefore, be it
    Resolved, That the House of Representatives--
            (1) commends the cooperative owners and the employees of 
        the Farm Credit System for their continuing service in meeting 
        the credit and financial-services needs of rural communities 
        and agriculture; and
            (2) expresses its confidence and support for Farm Credit 
        continuing its mission of providing reliable, consistent credit 
        to the United States rural communities and agriculture into the 
        future.
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