Governance
The Farm Credit Foundations governance model has three key groups: Plan Sponsor Committee, Trust Committee, and the Client Advisory Council.
Plan Sponsor Committee
The governing ‘board of directors’ for Farm Credit Foundations is the Plan Sponsor Committee. This committee, made up of 6 representative managers and 6 farmer directors from across the 47 participating employers, wears the employers’ hat and determines what benefits are to be offered, with what design, and who is eligible to participate. The committee’s representation of the various employer groups/geographies is proportionate to the number of benefit-eligible employees. There are nine members from the AgriBank District and Northwest FCS, and three from the U.S. AgriBank District. Each group determines how its representatives are selected.
Trust
Committee
In addition to the Plan Sponsor Committee, the Trust Committee plays a key role in the governance process. The 8 member committee wears the employees’ hat and serves as the fiduciary for the benefit plans and trust assets, while overseeing the administration of the plans. Six members of the Trust Committee are from the AgriBank District and Northwest FCS, and 2 are from the U.S. AgBank District. Each group determines how its representatives are selected.
Client Advisory Council
The third group that rounds out Foundations’ governance model is the Client Advisory Council. The 8-member Council is made up of HR leaders elected to represent the 47 participating employers. The focus of this committee is to ensure two-way communication with all clients and Farm Credit Foundations, work with Foundations leadership and team members to ensure alignment of operations with client expectations, and provide valuable client perspective and input on key tactical and strategic issues that shape our operations today and into the future.