The Farm Credit System (FCS) has rebounded from its credit problems of the 1980s to become a major competitor of banks in supplying credit to rural America. The consolidated financial performance of the FCS has been strong the last several years. The FCS reported a profit of $1.3 billion in 1997 - an increase of $66 million over 1996. The return on average assets was 1.66% in 1997, an increase from 1.63% from 1996. As of year-en 1997, the FCS had total assets of $78.1 billion - and increase of 4.3%, or $3.2 billion, over year-end 1996 assets. Loan volume for the FCS increased 3.7% in 1997 and compares favorably to the 2% average growth rate for the years of 1992 through 1994.