FEATURE STORY
WGCIT SPONSOR For Farm Credit, Supporting Agtech Means Supporting Family Legacies
By Ann Donahue N eedless to say, the world has changed quite a bit since the Farm Credit System was established in 1916 with a mandate from the U.S. Congress to serve agriculture and rural communities with consistent and reliable credit. Sure, it was after the Industrial Revolution, so mechanization existed—but computers? Robots? Biologics? To someone of that era, it would all seem like science fiction. But right now the agriculture industry is in the thick of exploring a new frontier, and Farm Credit has adapted to the times while staying true to its mission. As a sponsor of the Western Growers Center for Innovation and Technology, the Farm Credit Alliance (comprised of several California-based Farm Credit associations including American AgCredit, CoBank and Farm Credit West) sees the support of agtech as a way to adhere to one of the organization’s most important duties: preserving the legacies of family farmers. “As an ag financier, we recognize that our customers need to invest in technology and innovation to become more efficient
as the cost of production increases in California,” said Mark Littlefield, President and CEO of Farm Credit West. “We’re seeing financing requests from our customers that are well planned and forward-looking, this aligns well with the work Western Growers is doing at the Center for Innovation and Technology.” And the planning for the future doesn’t stop for Farm Credit with the funding of hands-on work on the farm. “We lean very heavily into the relationship aspect of lending,” Littlefield said. “Yes, we are a finance provider, but we are also a connector in the community. Our lending teams work hard to position themselves as a central resource for the agriculture industry.” Dennis Donohue, the Executive Director of the WGCIT, said that the support of sponsors like Farm Credit is critical to the operation of the Center because of the bridge building the company excels at doing. “We’re a not-for-profit, and we’re just looking to cover our costs,” he said. “Financial support matters and Farm Credit is a marquee name. It’s important to point out that organizations like Farm Credit support us.” For Farm Credit, helping to find technological solutions for the perpetual problems of labor, water issues related to Sustainable Groundwater Management Act and other regulatory costs is part of their broader mission to support family farming. “Growers seek efficiency,” said Curt Hudnutt, President and Chief Executive Officer at American AgCredit. “Operating costs continue to increase, and farmers meet these challenges with creativity. They look for ways to grow their business and build a legacy for their children. Really,
for the majority of growers we serve, that’s their goal.” One common trait Farm Credit frequently observes among their grower- clients is the dedication to due diligence, which they value when it comes to testing new technology and building confidence in implementing innovative ideas. Growers often experiment with new technology at their operations, expanding a new approach slowly in an effort to determine the long-term implications of applying the technology to their entire acreage—and then they commit to the change and seek financing. “Financial support matters and Farm Credit is a marquee name. It’s important to point out that organizations like Farm Credit support us.”
—Dennis Donohue
“It’s an intentional way of working by the ag community that is born out of an understanding that their family legacy is on the line,” Hudnutt said. “If growers and ranchers are looking to invest significant dollars in technology, they require assurance that they are going to get a strong return. They evaluate the associated risks and proven results. And when they’re ready, we are there to jump in with them,” he said. “This is an area where Farm Credit excels—supporting our customers as they work to achieve their goals by providing a reliable and consistent source of financing.”
Mark Littlefield
JULY | AUGUST 2022
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Western Grower & Shipper | www.wga.com
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