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Biden nominates former Iowa Gov. Culver for federal agriculture mortgage board
Former Gov. Chet Culver, pictured here with his wife, Mari Culver, has been nominated to the board of directors for Farmer Mac. (Photo by Phil Roeder)
President Joe Biden has nominated former Iowa Gov. Chet Culver to the board of directors for the Federal Agricultural Mortgage Corporation, also known as Farmer Mac.
Culver is a Democrat who served as Iowa’s governor from 2007 to 2011. Biden touted Culver’s record as governor in announcing his nomination: “Under his leadership, Iowa successfully managed a $6 billion annual budget, earned a ‘Triple A’ bond rating, and built up one of the largest budget surpluses in the nation.”
Prior to his term as governor, Culver served as the Iowa secretary of state for eight years. After leaving the governor’s office, Culver founded the Chet Culver group, a renewable energy consulting firm.
Farmer Mac is a federally chartered organization created in 1987 to increase rural access to capital. The president is responsible for nominating five members of the board. Shareholders choose the other 10. Culver previously served on the board under former President Barack Obama.
The Senate must confirm Culver’s nomination.
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