Former Iowa Gov. Chet Culver was sworn in Monday as a new board member of the Federal Agricultural Mortgage Corp., better known as Farmer Mac.
Farmer Mac is a publicly-traded company that provides agricultural credit services. Congress charted the organization in 1988 to increase access to credit in rural areas. The president may name five members to the company's 15-member board of directors.
"There's never been a more critical time to make sure credit is flowing to rural America," Culver said after his swearing-in ceremony in Des Moines.
Culver, a Democrat, said Farmer Mac will partner with Congress to make loans "as affordable as possible for farmers" amid high rates of inflation.
"Farmer Mac has done a great job historically through the economic cycles to do just that, so there's no doubt in my mind we'll be able to do it," he said.
This is the second time Culver had held a board position with the company: Former President Barack Obama appointed Culver to sit on the Farmer Mac board from 2012 until 2019.
Culver, a Democrat, served as Iowa's governor from 2007 until 2011. After leaving office, he created the Chet Culver Group, an energy consulting firm.
This article originally appeared on Des Moines Register: Former Iowa governor rejoins Farmer Mac board of directors