Memorandum Farm Credit Administration

1501 Farm Credit Drive

McLean, VA 22102-5090

(703) 883-4000

November 8, 2023

To: Chair, Board of Directors

Chief Executive Officer

Each Farm Credit System Institution

From: Vincent Logan

FCA Board Chairman and CEO

Subject: Encouraging Farm Credit System institutions to strengthen outreach to military 

veterans for lending and hiring purposes

Saturday is Veterans Day — a day to honor the men and women who put their lives on the 

line in defense of our nation. As board chairman and CEO of the Farm Credit Administration, 

I want to take this opportunity to encourage your Farm Credit System (System) institution 

to reach out to the armed forces veterans in your lending territory. They can be an excellent 

source not only of new customers but of valuable new employees as well. 

We issued an informational memorandum (PDF) on July 20, 2023, inviting you to reflect on 

your diversity and inclusion activities since passage of the business planning rule 10 years 

ago. Under our business planning regulation, 12 C.F.R. § 618.8440, institutions are required 

to incorporate diversity and inclusion into their employment and lending strategies and 

actions. 

However, as I noted in the memo I sent earlier this month about outreach to Native 

American communities, planning is never enough. Veterans deserve our concerted efforts to 

ensure that they have the same opportunities for both credit and employment as everyone 

else, and that’s why outreach is so important. 

Providing the support and access our veterans deserve

Both of my parents served during World War II, and their willingness to stand up for our 

nation at such a perilous time instilled in me a profound respect for the sacrifices made by 

all servicemembers. I am certain many of us are connected to a veteran who had a similar 

impact on our lives.

The System’s mission to serve all eligible, creditworthy borrowers gives your institution a 

chance to support the veteran community by reaching out to ensure that its members know 

about the credit opportunities for which they may qualify. As an employer, you can further 

support our veterans by engaging with veteran groups and organizations when you are 

hiring. 
2 

Hiring veterans

From an internal diversity and inclusion perspective, recruiting veterans as part of your 

human capital plan offers a wealth of benefits. Veterans possess diverse skill sets, a strong 

work ethic, adaptability, and leadership experience acquired through their military service. 

Moreover, veterans often possess problem-solving abilities and a commitment to mission 

that can support your immediate organizational goals but also drive innovation from within 

your workforce. Thus, hiring veterans can demonstrate social responsibility while also 

providing a strategic advantage within your internal operations. 

It is vital, however, to create an inclusive environment that recognizes and maximizes the 

unique strengths veterans bring to the workforce. 

Serving veterans

In addition to internal diversity and inclusion efforts, striving to reach all types of 

creditworthy borrowers from your chartered territory is a requirement, as the System is a 

government-sponsored enterprise, with firm direction to serve all eligible, creditworthy 

borrowers. 

Although you cannot offer programmatic benefits to borrowers exclusively on the basis of

their veteran status, many veteran borrowers may qualify as young, beginning, or small 

(YBS) farmers or ranchers, making them eligible for benefits under your institution’s YBS 

program. 

Veterans in rural America

In 2020, there were 18 million veterans in the United States.1 According to the U.S. Census 

Bureau, about 5 million veterans lived in areas designated as rural during the 2011 – 2015 

period.2 

Many veterans are particularly well-suited for agriculture because of the unique skill set 

they acquired in the military. In addition to the qualities of leadership and adaptability

mentioned above, veterans are often adept at following strict protocols and paying close 

attention to detail — skills that align with the precision required in modern agricultural

practices. Furthermore, the commitment to service and community, which veterans 

exemplify, is consistent with the values inherent in sustainable agriculture, making them 

good stewards of land and natural resources. 

Diversity in the veteran community

The U.S. veteran population, while large, is also a dispersed demographic, composed of 

individuals from every race, gender, ethnic group, social class, and geographic area 

throughout the United States. 

Moreover, our contemporary veterans (that is, our post-9/11 veterans) differ considerably 

from earlier generations of veterans in the way they associate and communicate with each 

other. Post-9/11 veterans are more likely to use online platforms, social media, and digital 

tools for networking, advocacy, and communication. The post-9/11 veteran community is 

1 https://www.census.gov/content/dam/Census/library/publications/2020/demo/acs-43.pdf (PDF) 2 https://www.census.gov/library/publications/2017/acs/acs-36.html 
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also generally more diverse than older generations in terms of race, gender, and 

background. 

I encourage you to consider these unique characteristics in your strategies to reach 

individuals within the veteran community.

Leveraging existing resources to better serve veterans

Veterans face many of the same challenges that young, beginning, and small farmers and 

ranchers face. The good news is that veteran support is a governmentwide mission, which 

means there are a variety of programs to provide resources for education, business 

mentoring, real estate acquisition, and transition assistance. Although these programs are 

abundant, they are often siloed across multiple agencies, which can make access difficult for

individual veterans. 

This underscores the importance of hiring individuals — veteran or otherwise — who are 

familiar with navigating government and nonprofit veteran support programming. The 

available training programs, financial assistance, and mentorship opportunities can bridge 

the gap between military service and the agricultural sector. With the right collaborations 

between your institution and the veteran community in your lending territory, you can 

provide necessary resources and guidance to prime veterans for success in agriculture.

Concluding thoughts

Veterans are important to America’s agricultural industry, and your institution should make

every effort to support them through your lending and recruiting practices. Veteran 

outreach and engagement are consistent with the System’s mission as a governmentsponsored enterprise and a matter of importance to us at FCA. 

System institutions have a special opportunity to connect with a diverse population of 

borrowers, offer valuable lending and educational opportunities, and attract a diverse talent 

pool from these communities. To fulfill the mission of serving all of America’s farmers and 

ranchers, forging these important connections with our veterans and the military community 

can only make the System stronger.