THE WHITE HOUSE
Office of the Press Secretary
PRESIDENT CLINTON NAMES LOWELL JUNKINS TO THE BOARD OF DIRECTORS OF THE FEDERAL AGRICULTURAL MORTGAGE CORPORATION
President Clinton announced today the appointment of Lowell Junkins of Iowa to be a Member of the Board of Directors of the Federal Agricultural Mortgage Corporation ("Farmer Mac"). Mr. Junkins will serve as a recess appointee. He was nominated on October 11, 1995 and his nomination is pending before the Senate.
Mr. Junkins presently serves as a public affairs consultant for Junkins-Hultman & Associates in Des Moines, Iowa. He also owns and operates Hillcrest Farms in Montrose, Iowa. In addition, Mr. Junkins serves as Executive Director of the Iowa Association of Community College Trustees. Mr. Junkins served as a Senator in the Iowa state legislature from 1974 to 1986, and was the Majority Leader from 1981 to 1986. Mr. Junkins was instrumental in passing various initiatives, including a sweeping jobs bill in 1983. He served as Mayor of Montrose, Iowa from 1971 to 1972.
Mr. Junkins' experience and expertise would greatly benefit the Board of Directors as they take on upcoming policy discussions and decisions.
The Farmer Mac is a chartered corporation of the United States government. Farmer Mac was established as a secondary market to provide all segments of the agricultural credit industry, including the Federal Credit System, commercial banks, insurance companies and other agricultural lenders, with the benefits of capital market funding for agricultural real estate and rural housing loans. In doing so, Farmer Mac provides American farmers, ranchers and rural homeowners with stable access to intermediate and long-term fixed rate real estate loans at competitive rates.