Farm Credit Foundations is a collaboration of Farm Credit employers who have come together to create centralized HR shared services focused on meeting their own human capital needs. We are a federally chartered instrumentality of the United States, charted by the Farm Credit Administration (FCA), operating independently since January 1, 2012.
Our participating Farm Credit organizations span 41 states and employ over 10,000 employees. We provide competitive and economic value by acting as one employer. The vision for Foundations is to achieve economies of scale and strategic advantage by:
Farm Credit Foundations employers access HR industry thought leadership and best practices through the expertise and breadth of experience of Foundations team members located in St. Paul, MN. Employers capture the efficiencies and effectiveness of shared benefits design, administration, asset management, payroll services, and related HR offerings. Through Foundations, their organizations are able to stay ahead of an increasingly complex and competitive workforce management environment.
Trusted partner delivering unrivaled excellence in HR services
Farm Credit Foundations delivers the best total value in HR services, enabling those we serve to be the employers of choice for those who serve Rural America.
We are guided by our business principles:
2020 Annual Report
A well-defined governance structure with employer-selected representatives provides direction and oversight to the corporation and its products and services. Farm Credit Foundations governing bodies include:
The Board of Director provides the governance and oversight of Farm Credit Foundations. The Board is made up of six managers and six elected/appointed directors from among the owners of Foundations, and provides strategic oversight and direction for Farm Credit Foundations. When the Board was established, it was determined that the same owner representatives who were elected to serve on the Plan Sponsor Committee will also serve on the Board. These are distinct roles, held separate and apart from one another. Utilizing the same incumbents creates efficiencies and cost effectiveness from a time and administration, travel and meeting expenses, etc.
The Plan Sponsor Committee (PSC) governs the employee benefits. The PSC wears the employer hat and determines what benefits are to be offered, who is eligible, under what conditions, etc. The PSC membership has six managers and six elected/appointed directors from among the owners of Foundations. PSC members also serve on the Board of Directors.
The nine-member Trust Committee wears the employee hat and serves as the fiduciary for the benefits plans and trust assets, hires and monitors the performance of the fund managers, and oversees the administration of the plans. The Trust Committee is made up of nine manager Trustees chosen by employer groups across Foundations.