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Farm Credit focused on Investing in Rural America Act

Farm credit leaders are calling on Congress to pass the Investing in Rural America Act.

Compeer Financial CEO Jase Wagner says the legislation would make it easier for Farm Credit institutions to partner in developing rural infrastructure.

“Our focus is really on community facilities.”  He says, “Think of large healthcare facilities, nursing homes, assisted living, and critical access care hospitals. But there is a $6 billion funding gap on essential community facilities that’s out there.”

Kelly Hunt, CEO of Farm Credit Illinois, tells Brownfield that current regulations limit the agency’s ability to invest in these types of projects.

“With what’s happening with federal funding, state funding, and then all of that ultimately feeds into what’s available, what kind of capacity for investment there is.”  She says, “Certainly, healthcare and emergency services, and senior care, that need is not going to go away. If anything, it’s going to grow and get bigger.”

AUDIO: Kelly Hunt – Farm Credit Illinois

Wagner says the legislation would create better cooperation amongst the farm credit system, local lenders, the USDA, and others.

“We believe that agriculture needs rural communities as much as rural communities need agriculture, and so if we support and have really thriving rural communities, that provides off-farm jobs, and so that helps kind of create that thriving environment for everyone by focusing on those essential community facilities,” he says.

Both say they’d like to see the legislation included in any “skinny” farm bill considered by lawmakers.

Brownfield spoke with both at the 2025 Farm Progress Show.

AUDIO: Jase Wagner – Compeer Financial