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

2021 Board Meeting Dates

  • January 13
  • February 10
  • March 10
  • April 14
  • May 12
  • June 9
  • July 14
  • August 11
  • September 8
  • October 13
  • November 10
  • December 8