For over 90 years, the mission of the Farm Credit System has been to maintain the quality of life in rural America and on the farm by ensuring the availability of sound, dependable funding for a variety of financial needs. MidAtlantic is a proud member of the Farm Credit System, and together with other cooperative lending associations and banks across the U.S., the System is the single largest lender to our nation’s agricultural sector and to rural communities.

As you well know, life for American farmers and ranchers has changed dramatically over the years. Agriculture is changing, the market is changing, and our customers are changing. We want to continue to help customers have access to competitive credit from a partner on whom they can trust and rely.

That’s why the leadership of the Farm Credit System launched a research and assessment initiative called HORIZONS. The goals of this project are to identify future trends in agriculture and rural America, predict the changing financial services needs of an increasingly diverse community, and recommend any changes to our lending authority that will facilitate the ability of customers to work with Farm Credit institutions such as our own.

HORIZONS engaged the System in an exhaustive market survey, institution by institution, across the U.S. It enlisted the minds of more than a dozen noted independent researchers, canvassed Farm Credit institutions and farmers from coast to coast and reviewed available government and academic data.

Much of what the HORIZONS project team learned comes as little surprise, but it was enlightening in terms of future opportunities for agriculture and rural America. Essentially, the changing ag/rural marketplace is more in need than ever of continuous access to a full range of reliable, competitive financial products and services to compete and thrive in today’s rapidly changing world.

The good news is that Farm Credit is well positioned to provide many of these products and services, and customers want to avail themselves of our resources and expertise. However, HORIZONS found a number of outdated federal regulations that hamper or prevent Farm Credit from serving the diverse needs of the emerging customer base. These HORIZONS findings suggest specific policy solutions will be needed to ensure that agricultural producers and rural communities continue to have access to the Farm Credit System.

While the policy solutions suggested by HORIZONS are modest and incremental, their impact will be significant for many because they would make it easier for borrowers to work with Farm Credit to obtain the financial services they need to succeed now and in the future -- while reinforcing the personal, responsive partnership that you have come to expect.

Obviously, it will take time and a concerted effort to bring about the needed changes identified by the HORIZONS initiative. Farmers and ranchers will need to have their support heard along with that of other groups having an interest in a strong agricultural sector and a vibrant rural America if these changes are to be achieved. Over the past year our institution has participated in a public policy advocacy campaign to try to bring about the changes that will bring benefits to our customers.

For more information on HORIZONS, we encourage you to visit the HORIZONS Web site at www.FCHORIZONS.com or ask any MidAtlantic employee about the initiative and how it will improve our service to you.

We hope you will join us in supporting HORIZONS.