For over 90 years, Idaho AgCredit has helped shape the future for generations of family farms across the state. As one of the smaller associations within the Farm Credit System, its strong tie to the community sets it apart — positioning the association for continued growth as it welcomes a new wave of producers.
Idaho AgCredit delivers financial services to farmers, ranchers and agribusinesses across its territory in the state and two counties in Wyoming, financing commodities from potatoes and sugar beets to alfalfa, wheat, malt barley, dairy and cattle. With only one territorial expansion more than 40 years ago, it has maintained a stable service area and fostered strong, personal relationships with its customers-owners.
“Many of our customers are multigenerational, and we continue to welcome new members each year as well. And we are actively working to engage and support these young, beginning and small farmers — it’s incredibly important that we build relationships with the next generation of agriculture and help facilitate their entry into the industry,” said Marc Fonnesbeck, president and chief executive officer of Idaho AgCredit.
We’re a small institution, but we feel significant to CoBank.
To help strengthen these relationships and support steady growth, Idaho AgCredit works with CoBank. As one of the bank’s 16 affiliated associations, it receives wholesale funding from the bank that supports the loans it provides its farmers and ranchers.
“We’re a small institution, but we feel significant to CoBank … and that trickles down to our members. They are significant to them, too,” Fonnesbeck said.
Idaho AgCredit uses several resources from the bank to better serve its members — including CoBank’s cash management service, which provides tailored financial services and tools that help the association’s farmer-members manage payments, pay down loans and protect against fraud. Idaho AgCredit and CoBank also partner on loan participations, each buying loans that the other institutions has originated.
“We appreciate the ability to sell volume to CoBank and then receive volume back — it creates a cohesive partnership and has helped us continue to expand our footprint while broadening the services we offer,” Fonnesbeck said.
Fonnesback notes that Idaho AgCredit recently achieved an important growth milestone, surpassing $500 million in assets. But staying small, he said, “will always be one of our greatest strengths.”
“We’re highly efficient, and our staff wears many hats. Because of that, we can interact with our members and the community from every level of leadership. And CoBank has helped strengthen our ability to serve."