CoBank
Encyclopedia
CoBank, ACB, a part of the United States Farm Credit System
, is an agricultural credit bank serving cooperatives in the agricultural sector. It lends money to farm credit associations, agricultural businesses, and rural utilities, who collectively own CoBank. It also owns 100% of Farm Credit Leasing Services Corporation. The company provides international banking services for U.S. agribusinesses, exclusive among banks of the Farm Credit System.
It was previously known as CoBank-National Bank for Cooperatives, and was the product of the merger in 1989 of 11 of 13 Banks for Cooperatives created in 1933 with the Farm Credit Act of 1933
. The other two Banks for Cooperatives joined in 1995 (with the merger of CoBank and the Farm Credit Bank of Springfield (Mass.) and the Springfield Bank for Cooperatives) and 1999 (with the merger of CoBank and St. Paul Bank for Cooperatives)
The company is based in Greenwood Village, Colorado
.
In 2010, the company announced plans for a merger with U.S. AgBank
.
CEO: Robert B. Engel
Farm Credit System
The Farm Credit System is a federally chartered network of cooperatives and related service organizations that lends to agricultural producers, rural homeowners, farm-related businesses, and agricultural, aquatic, and public utility cooperatives in the United States...
, is an agricultural credit bank serving cooperatives in the agricultural sector. It lends money to farm credit associations, agricultural businesses, and rural utilities, who collectively own CoBank. It also owns 100% of Farm Credit Leasing Services Corporation. The company provides international banking services for U.S. agribusinesses, exclusive among banks of the Farm Credit System.
It was previously known as CoBank-National Bank for Cooperatives, and was the product of the merger in 1989 of 11 of 13 Banks for Cooperatives created in 1933 with the Farm Credit Act of 1933
Farm Credit Act of 1933
The Farm Credit Act of 1933 established the Farm Credit System as a group of cooperative lending institutions to provide short-, intermediate-, and long-term loans for agricultural purposes...
. The other two Banks for Cooperatives joined in 1995 (with the merger of CoBank and the Farm Credit Bank of Springfield (Mass.) and the Springfield Bank for Cooperatives) and 1999 (with the merger of CoBank and St. Paul Bank for Cooperatives)
The company is based in Greenwood Village, Colorado
Greenwood Village, Colorado
The city of Greenwood Village is a prominent suburb of the Denver-Aurora Metropolitan Statistical Area and a Home Rule Municipality located in Arapahoe County, Colorado, United States...
.
In 2010, the company announced plans for a merger with U.S. AgBank
U.S. AgBank
U.S. AgBank, Farm Credit Bank based in Wichita, Kansas, is a financial institution, part of the Farm Credit System lending to Farm Credit Services organizations serving Arizona, California, Colorado, Hawaii, eastern Idaho, Kansas, Nevada, New Mexico, Oklahoma, Utah, and western Wyoming.Like other...
.
CEO: Robert B. Engel