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Common Ground
Farm Credit Services of America Blog

Meet Gerry, Part Owner of a $20 Billion Business

by Grant Dixon, Financial Officer – Harlan, Iowa | Nov 15, 2013

Grant DixonOne of my customers in southwest Iowa is a producer named Gerry.  He farms a few hundred acres and owns a fuel business that services other farmers. 

Gerry’s a very friendly guy and enjoys talking to folks.  He especially likes to watch people’s response when he announces with pride, “I’m part owner of a $20 billion company.”

Gerry’s referring to his ownership stake in FCSAmerica, a customer-owned financial cooperative.  When I ask Gerry why he’s so jazzed about this, he talks about the fact that all the folks at the cooperative work for him, not for a corporation.  The profits from the business go back to Gerry and his farmer neighbors versus a private owner or remote corporate office.  Gerry likes the cooperative business model because it lets him join with his peers in collectively owning a business that serves only them.

In my job as a financial officer, I often get to tell other producers about the value of the cooperative model.  I like to quote Gerry because there’s no one I know who’s done a better job of describing the bottom line business benefit for agricultural producers.

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