Iowan named to lead Farm Credit Administration

An Iowa woman’s been approved to lead the organization that oversees the financial system that deals with farmers. President Bush named Nancy Pellett of Atlantic to serve as chair of the Farm Credit Administration. Pellett was appointed to as a member of the three-person board by President Bush in November of 2002 and will serve through 2008. She says the Farm Credit Administration is filled with a group of very, very highly professional people that come to work every day trying to do a better job. She says their first and foremost duty is to make sure the farm credit system remains safe and sound. Pellett says there are a lot of factors that impact today’s farmers. Volatile commodity prices, cost of planting and harvesting, animal and crop diseases, government programs, world trade issues, who’ll farm the land, are just a few of the factors. But, she says there are some great opportunities ahead. She says there are opportunities for young, beginning and small farmers. She says the F-C-A has just passed a regulation that enables as well as challenges the farm credit system to expand credit and services to this segment of agriculture. She says this is an issue that’s been important to the president and Congress. Pellett says there’s also opportunities for entrepreneurial businesses in value-added agriculture. She says the businesses help the producer to get closer to the consumer, but they also help generate jobs in rural communities that’re so important to all of us. She says they may create a job for a young or beginning farmer or their spouse. She says the F-C-A is working on a regulation to help the system better invest in rural America. Pellett helped run the family farm with her husband before leaving for the F-C-A position in Washington, D.C. She says, “agriculture is such a good life, I want it to not only continue, but to also flourish. And I want to see vital and viable rural communities.” Pellett is a native of Walnut, Iowa and an Iowa State University graduate. She also served six years on the State Board of Regents.