AgChoice Farm Credit and MidAtlantic Farm Credit, agricultural lending cooperatives owned by member‐borrowers, recently announced they will merge, effective July 1, to form Horizon Farm Credit.
The new company will be headquartered in Mechanicsburg.
AgChoice Farm Credit and MidAtlantic Farm Credit are part of the national Farm Credit System. They provide credit to farmers and others living in rural areas to finance home mortgages and production and purchase land, equipment, and livestock. They also offer crop insurance.
Stockholders voted on May 20. Votes exceeded the required 3 percent quorum from both associations’ members.
No office closures or staffing changes are expected due to the merger.
All locations will be closed from July 1–4 to integrate computer systems.
Horizon Farm Credit will have 25 offices in Pennsylvania, Maryland, West Virginia, Virginia, and Delaware and comprise more than 20,000 member-borrowers.
Tom Truitt, MidAtlantic Farm Credit CEO, will serve as Horizon Farm Credit CEO.
“AgChoice and MidAtlantic have been working together for many years as industry peers and are closely aligned in how we go about fulfilling our mission and serving our members,” Truitt said.
Darrell Curtis, AgChoice CEO, will remain until the merger is complete.
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