The Rural Finance Authority (RFA) Board consists of six public members, who must reside outside the metropolitan area and are appointed by the Governor, and five members from the following state agencies:
- Department of Agriculture (Chair)
- Minnesota Management and Budget (Vice-chair)
- State Auditor
- Department of Commerce
- Department of Employee and Economic Development
Powers and duties of the RFA Board include guiding the RFA’s purpose to develop the state’s agricultural resources by extending credit on farm real estate security and depreciable agricultural property (improvements, machinery, animals). The RFA 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
- Thom Petersen, Commissioner
Department of Agriculture
625 Robert Street North
St. Paul, MN 55155-2538
651-201-6219
Thom.Petersen@state.mn.us - Jim Schowalter, Commissioner
Minnesota Management and Budget
400 Centennial Building
St. Paul, MN 55155
651-201-8015
Alternate - Jennifer Hassemer; Assistant Commissioner, Debt Management;
James.schowalter@state.mn.us, Jennifer.hassemer@state.mn.us - Julie Blaha, State Auditor
525 Park Street, Suite 400
St. Paul, MN 55103
651-296-2524
julie.blaha@osa.state.mn.us - Steve Grove, Commissioner
Department of Employment and Economic Development
1st National Bank Building
332 Minnesota Street, Suite E200
St. Paul, MN 55101-1351
651-259-7112
Alternate - Kevin McKinnon; Deputy Commissioner
651-259-7111
s.grove@state.mn.us, Kevin.mckinnon@state.mn.us - Grace Arnold, Commissioner
Department of Commerce
85 Seventh Place East, Suite 500
St. Paul, MN 55101
651-539-1441 / 651-539-1727
Alternate - Max Zappia, Deputy Commissioner of Financial Institutions
Grace.arnold@state.mn.us, Max.zappia@state.mn.us -
Harold Wolle, Jr.
16595 473rd Avenue
Madelia, MN 56062
507-236-2181
Hwolle1227@gmail.com -
Shelly DePestel
18942 County Road 18
Lewiston, MN 55952
507-261-7909
Daleyfarm2@live.com - Carol Anderson
14235 115th Avenue NE,
Foley, MN 56329
320-492-1663
ander@fallsnet.com - Gary Wertish
26416 County Road 17
Renville, MN 56284
651-262-7128
gary@mfu.org - Eric Sannerud
8505 95th St. N.E.,
Foley, MN 56329
952-201-4227
ericsannerud@gmail.com - 1 Position Open
2024 Board Meeting Dates
- January 10
- February 14
- March 13
- April 8
- May 8
- June 12
- July 10
- August 14
- September 11
- October 9
- November 13
- December 11
