Compeer supports Investing in Rural America Act
A farm credit cooperative is pushing for the Investing in Rural America Act to be included in the next farm bill.
Compeer Financial chief mission officer John Monson says the bill streamlines partnerships with local lenders.
“The farm credit system has lead the way in terms of investments like (what the bill) is proposing, but on a case by case basis as approved by our regulator. So this legislation eliminates that need (so) we’re able to do this and just go, and do it together with community banks, do it with other partners as well (like) USDA which we already use.”
He tells Brownfield there’s a quiet crisis happening as rural infrastructure gets older.
“And this is an effort to sort of get on top of that. But specifically, it’s really tied to helping rural communities with healthcare. That would be assisted living, it might be a hospital, it might be a nursing home.”
The Investing in Rural America Act was recently introduced in the House by Minnesota Republicans Brad Finstad and Michelle Fischbach.
Fischbach says the legislation can help strengthen rural communities by eliminating unnecessary regulatory barriers to capital investment.