Farm Credit Armenia staff members jointly with US Farm Credit Administration official Douglas Flory, the Coordinator of US Department of Agriculture in Armenia and Georgia Sean Carmody, Fred Johnston, Caucasus Agricultural Development Initiative Officer, First Deputy Minister of Agriculture of RA Samvel Avetisyan and 57 farmers from five (Ararat, Tavush, Vayots Dzor, Syunik, Kotayk) marzes of RA held the Founding Meeting of Farm Credit Armenia Initiative Group and FCA's First Board Meeting on February 21-22, 2007 at the AUA Business Center.

The goal of the two day meeting was to form the Board of the organization, to approve the bylaws of “Farm Credit Armenia” organization, to present the farmers the goal of the organization and its function around which FCA would build its future sustainable cooperative rural Armenia financial system.

The First/Organizational Board Meeting was held on the 22nd of February during which the Board elected the Board Chairman and Board Secretary, nominated the Chief Executive Officer of FCA,

During the Board meeting Armen Gabrileyan was nominated as Chief Executive Officer of Farm Credit Armenia, Seryozha Hayrapetyan from Syunik Marz was elected as Board Chairman, and Arpine Abrahamyan as Board Secretary.