Lone Star Ag Credit

  1. What is Congress' role?
    • pass regulations
    • provides oversight of the system
    • provided original funding
  2. What is a PCA?
    • Production Credit Association
    • Provide short and long term credit to members
    • operating/equipment loans
  3. What is a FLCA?
    • Federal Land Credit Assoc.
    • make long term credit loans
    • land loans
  4. What is an ACA?
    • Ag Credit Assoc.
    • provide a combination of short-term and long-term credit
    • combination of FLCA and PCA
  5. What does the Funding Corporation do?
    • obtain funds by selling securities
    • publish financial reports
    • maintain purchasers/sellers
  6. What are the other types of banks?
    • commercial banks
    • credit unions
    • savings & loans
  7. What are commercial banks?
    • services: loans, checking/savings accounts, safety deposit boxes, wire transfers/cashiers checks
    • funds generated by deposits
    • regulated by federal reserve system
    • for profit and owned by investors
  8. What are Credit Unions?
    • not for profit
    • similar to commercial banks (loans and deposits)
    • governed by board of volunteers
    • funds generated by deposits
    • regulated by NCUA
  9. What are Savings & Loans?
    • specialize in accepting deposits and making mortgages and other loans
    • owned by members
    • goal is to provide lower rates
    • regulated by office of thrift supervision
  10. Why are credit scores important?
    • impact credit and terms available to you
    • indicator of your risk to creditors
  11. What is a good credit score?
    about 700
  12. What are reporting agencies for credit score?
    • Equifax
    • Experian
    • transunion
  13. What are the types of interest rates?
    • fixed
    • variable (ARM)
Card Set
Lone Star Ag Credit
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