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Home > All About the MDA > Divisions Directory > Finance & Budget Division > Ag Finance Section > RFA Board

Rural Finance Authority Board


2018 Board Meeting Schedule:

The Rural Finance Authority holds its board meetings on the first Wednesday of each month at 1:00 p.m. The board meetings are held at the Minnesota Department of Agriculture, 625 Robert Street North, St. Paul. The majority of these meetings are conducted by teleconference. The duration of these meetings are usually under one hour. The schedule for 2018 is:

                     
  • January 3
  • February 7
  • March 7
  • April 4
  • May 2
  • June 6
  • September 5
  • October 3
  • November 7
  • December 5
The meetings held the first week of July and August are canceled. One meeting is held toward middle of August (date/location yet to be set). This meeting is held out-state.

There are six public members appointed by the Governor. No public member may reside in the metropolitan area.

The Rural Finance Authority board consists of representatives from five state agencies:

  • Department of Agriculture (Chair)
  • Minnesota Management and Budget (Vice-chair)
  • State Auditor
  • Department of Commerce
  • Department of Employee and Economic Development (DEED)

Powers and Duties include: The authority’s purpose is to develop the state’s agricultural resources by extending credit on farm real estate security and depreciable agricultural property (improvements, machinery, animals). The authority carries out this purpose by purchasing participation interests in loans or selling Agricultural Development Revenue Bonds to agricultural lenders or individuals for the purchase of agricultural items. Another loan participation program provides for restructuring farmer agricultural debt. An additional program was added in 1994 providing assistance to lower equity farmers to purchase stock in a value-added processing cooperative.

Rural Finance Authority Board Members

  • Dave Frederickson, Commissioner







    Department of Agriculture, 625 Robert Street North, St. Paul, MN 55155-2538 ~ 651-201-6219    
  • Myron Frans, Commissioner







    Minnesota Management and Budget, 400 Centennial Building, St. Paul, MN 55155 ~ 651-201-8024
  • Rebecca Otto, State Auditor







    525 Park Street, Suite 400, St. Paul, MN 55103 ~ 651-296-2524 ~ rebecca.otto@osa.state.mn.us
  • Shawntera Hardy Commissioner







    DEED, Business & Com. Dev. Division, 1st National Bank Building, 332 Minnesota Street, Suite E200, St. Paul, MN 55101-1351 ~ 651-259-7112 ~ shawntera.hardy@state.mn.us 
  • Jessica Looman, Commissioner







    Department of Commerce, 85 Seventh Place East, Suite 500, St. Paul, MN 55101 ~ 651-539-1720
    • Alternate – Max Zappia, Acting Deputy Commissioner of Financial Institutions ~ 651-539-1727 ~ max.zappia@state.mn.us  
  • Ms. Mary Gritzmacher







    Unity Bank, 26171 Highway 27, Pierz, MN 56364 ~ 320-468-0366x2306 ~ mgritzmacher@unitybanking.com
  • Ms. Sarah Kern







    335 Cossairt Avenue, Eden Valley, MN 55329 ~ 320-842-7201, ext. 111 ~ jeffandsarah@meltel.net
  • Ms. Jennifer Berquam







    628 Sandy Court, Wanamingo, MN 55983 ~ 651-308-8266 ~ jberquam@hotmail.com
  • Ms. Carol Anderson







    14235 115th Avenue NE, Foley, MN 56329 ~ 320-492-1663 ~ ander@fallsnet.com
  • Mr. Gary Wertish







    26416 County Road 17, Renville, MN 56284 ~ 651-262-7128 ~ gary@mfu.org
  • Mr. Eric Sannerud 8505 95th St. N.E., Foley, MN 56329 ~ 952-201-4227 ~ ericsannerud@gmail.com