Governance

Farm Credit Foundations Governance is comprised of three bodies:

Plan Sponsor Committee

Six directors and six client senior leaders set strategic direction of the Foundations business, determine the terms and conditions upon which benefits will be offered.

Plan Sponsor Committee Members

Plan Sponsor Commitee Members

Margie Doyle, FCS of America; Al Barkley, (Chair) Farm Credit West; Dave Owens, FCS of Illinois; Larry Romuald, (Vice Chair)AgStar Financial Services; Tom Tracy, Northwest FCS, Wes Wells, Farm Credit of New Mexico; Michael O'Keeffe, FCS of Mandan; Barney Barnett, FCS of Mid-America; Paul Bruce, FCS of Mid-America, Bill Stutzman, Greenstone FCS; Jim Grauerholz, U.S. AgBank; Ann Finkner, (Secretary) FCS of America

Trust Committee

Eight client senior leaders act as fiduciary trustees in overseeing the administration of plans and investment of assets.

Trust Committee Members

Trust Commitee Members

Terry Anders, (Chair) FCS of the Mountain Plains; Kenton Stout, FCS of Mid-America; Richard Weathered, Western AgCredit; Tom Nakano, (Secretary) Northwest FCS; Glen Manchester, FCS of Western Arkansas; Diane Cole, Badgerland Financial; Bob Bahl, AgCountry FCS; Craig Kinnison, (Vice Chair) FCS of America

Client Advisory Council

Eight HR client leaders work with the Foundations team to provide operational support and alignment.

Client Advisory Council Members

Client Advisory Council

Michael Hotz, Farm Credit West; Deanna Ashby, Northwest FCS; Kurt Kline, FCS of America; Heather Hornback, FCS of Mid-America; Sherry Williams, AgHeritage FCS; Jeni Strand, AgCountry FCS; Kathleen Wiese, FCS of Mandan; Janet Bartel, Frontier Farm Credit

As with any new organization, a great deal of thought and dialogue occurred when designing the governance structure of Farm Credit Foundations, where all participating employers are represented. Well into the fifth year in our current structure, Governance is working exceptionally well. Two of our Plan Sponsor Committee members and a member of the Client Advisory Council highlight the reasons why this structure is working so well.

Read Testimonials

Bill Stutzman

Farm Credit Foundations Plan Sponsor Committee

Director on GreenStone FCS and AgriBank FCB Boards

“First of all, we have a good balance of representation across the geographic regions and organizations that participate in Farm Credit Foundations.

Secondly, we have an excellent balance of director and employer representatives on the Plan Sponsor Committee – six of each. Thirdly, and probably most important, the Plan Sponsor Committee and Trust Committee have believed from the beginning that when you serve a group as large as Foundations serves, we have to be committed to come to the table with an unselfish attitude and willingness to find common ground. We need to seek the best solution for the situation, not ‘my’ solution. When we do this, our organizations and their employees are the winners and our mission is accomplished.”

Tom Tracy

Farm Credit Foundations Plan Sponsor Committee

General Counsel Northwest FCS

“When we designed Farm Credit Foundations five years ago, we chose a structure that would allow districts to design and select representatives. It is not a ‘one-size fits all.’ Rather, the districts have the flexibility to select their representatives based on what they feel best represents their districts’ interests.

The Governance design also went a step further – separating fiduciary from non-fiduciary roles. The split of accountability between the two committees avoids conflict or confusion between roles, and it also allows us to focus the right skill sets into each set of responsibilities.

The Trust Committee is the fiduciary body of Farm Credit Foundations, looking out for the interests of the employees. Trustees are primarily individuals who understand the financial markets, compliance and the investment world. This committee is responsible for the funds and administration of funds in each plan.

The Plan Sponsor Committee is responsible for employers’ interests and is charged with developing benefit plans that reflect employer interests and will remain competitive in the marketplace. Having directors on the Plan Sponsor Committee ensures strong alignment at the employer level between the interests of the employees and that of the employer.

The committees’ experience with the Farm Credit Foundations team has been very, very responsive. The relationships are very personable, but extremely confident at all levels. We have a high degree of confidence that if there is an issue, it will be brought to the appropriate committee and responded to promptly. Foundations does not have an outsourcing, call-center mentality. It is a well-run business endeavor, and I have confidence in all of the people on the Foundations team and within its Governance structure.”

Sherry Williams

Member of the Farm Credit Foundations Client Advisory Committee

Senior Vice President Human Resources, AgHeritage Farm Credit Services

“The Client Advisory Council is the third vital part of our Foundations Governance model. The Council brings the clients’ HR expertise and perspective – critical input into the strategic and tactical decisions being made by the Foundations team on a day-to-day basis, and by the Plan Sponsor and Trust Committees as they lead us forward.”