GOVERNANCE OPPORTUNITIES

Customer elections are held annually for members of our Board of Directors and Nominating Committee.

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GOVERNANCE POSITIONS

Directors serve staggered terms, with elections occurring annually. Nominating Committee members are elected to a one-year term annually. Nominating Committee meetings will be held in June/July 2020 to review candidate submissions for March 2021 elections.

In the March 2021 election, the Director positions currently held by the individuals listed below will be up for election for a four-year term.

  • Nick Hunt, Atlantic, IA
  • Jeff Burg, Wessington Springs, SD
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your voice counts hereTo submit a candidate profile for consideration by the current Nominating Committee, click the appropriate link below and complete the online form:

Candidate profile submission deadline:
June 1, 2020

For eligibility or election process questions, contact our Legal Specialist at sr@fcsamerica.com or 800-531-3905.

BOARD OF DIRECTOR Q&A

The Board of Directors is responsible for the safe and sound operation of the Association, and for ensuring the Association fulfills its public mission. Directors are accountable to customer-stockholders and Farm Credit System (System) investors for:

  • Overseeing the strategic direction and objectives of the Association
  • Understanding the Association’s operations
  • Providing for competent Association leadership and management
  • Establishing systems and processes that provide safe and sound operations
  • Ensuring that information and disclosures provided to customer-stockholders and System investors are accurate and reliable
  • Diligently and impartially performing their duties as Directors
  • Exercising independent judgment
  • Remaining loyal to the Association’s interests

Director candidates must meet the following eligibility requirements:

  • Must be a voting customer-stockholder of the Association
  • Must have an outstanding loan balance with the Association
  • Must maintain loan(s) in compliance with Association policies and standards
  • Must reside or have headquarters within the Association’s chartered territory (Iowa, Nebraska, South Dakota or Wyoming)
  • May not have restructured indebtedness with a System institution at any time
  • May not have been an employee of a System institution within one year of election
  • May not serve as a director, officer, employee or agent of a financial institution or other entity that engages directly in the business of providing financing or Risk Management Agency approved products that are offered by the Association

Upon election, Directors may not:

  • Be convicted of any felony
  • Be held liable for damages in fraud
  • Be convicted of a criminal offense involving dishonesty or breach of trust
  • File for bankruptcy

Director candidate qualifications sought by the Nominating Committee include a passion and commitment to serve the Association and System stakeholders and knowledge or experience in the following areas:

  • Strategic and visionary thinking
  • Corporate governance
  • Financial expertise
  • Communication
  • Technology
  • Risk management
  • Human capital management
  • Understanding of cooperative principles

Directors are generally elected to a four-year term, unless the election is to fill a Board vacancy. An average of 20 days is required per year to attend Board, committee and planning meetings. Additional days may be required for Director training and development courses or conferences. Related travel time for these events varies by Director.

Directors receive a monthly retainer for meeting preparation and conference calls plus a per diem for each day of official Association business and related travel. The Board of Directors periodically reviews compensation to ensure it is competitive with other boards.

NOMINATING COMMITTEE Q&A

The Nominating Committee’s role is to identify, evaluate and nominate a qualified slate of candidates for stockholder election to the Association’s Board of Directors and to the Association’s Nominating Committee.

Nominating Committee members must:

  • Be a voting customer-stockholder of the Association
  • Have an outstanding loan balance with the Association
  • Not be a Director, employee or agent of the Association
  • Not be a candidate for the Board of Directors while serving on the Nominating Committee
  • Reside or have a headquarters within the Association’s chartered territory (Iowa, Nebraska, South Dakota or Wyoming)

Nominating Committee members are elected to a one-year term. There are generally three meetings per year:

  • Conference call to review expectations for the sourcing and selection of candidates
  • In-person consideration of candidates for the Board of Directors and the next Nominating Committee
  • In person formal interviews of identified Board of Director candidates

Nominating Committee members are compensated for their time and travel expenses incurred for meeting attendance.

STOCKHOLDER RELATIONS CONTACT

For eligibility or election process questions, contact our Legal Specialist at sr@fcsamerica.com or 800-531-3905.