SUN PRAIRIE, Wis. — On July 1, 1st Farm Credit Services, AgStar Financial Services and Badgerland Financial joined together as Compeer Financial. The organization serves clients in Illinois, Minnesota and Wisconsin. The merger was voted on and approved by the membership and board of directors of each organization and received final regulatory approval from the Farm Credit Administration.
“The merger of these three highly successful organizations strengthens our commitment to the agricultural and rural communities we serve,” says Rod Hebrink, Compeer Financial president and chief executive officer. “Our name, Compeer Financial, means ‘together with equals’ and speaks to the way we’re moving forward — as a unified cooperative that’s committed to the success of our clients, team members and rural America. We’re excited about the opportunities ahead.”
Compeer Financial leverages the strengths of the original organizations, while providing expanded capital to help Compeer Financial invest in technology and other resources to support its clients.
“Our clients across the entire geography of our new organization now have the opportunity to benefit from the resources and broad expertise of our teams to help them realize their dreams,” says Paul Kohls, Compeer Financial chief lending operations officer and general counsel.
The fusion of the three organizations also creates a more diverse portfolio that will generate additional stability for Compeer Financial, its member-owners and clients. Further, the merger better enables the organization to share its earnings with member-owners through its cash patronage program.
“Our allegiance to our clients and communities does not change,” adds Hebrink. “They can count on the same excellent service and commitment from our dedicated team of professionals they’ve come to expect. Ultimately, the union between these three cooperatives will provide us with expanded breadth to better serve client needs — to champion their hopes and dreams.”
“That’s at the core of an organization that measures its success with client relationships not in years, but in generations,” says Matt Ginder, Compeer Financial chief core markets officer.
Compeer Financial also announced it will build on the firm foundation of community service begun by its legacy organizations of 1st Farm Credit, AgStar Financial and Badgerland Financial.
“The Compeer Financial board of directors has pledged to donate 1% of net earnings per year as part of its commitment to corporate giving,” says John Monson, Compeer Financial chief mission and marketing officer. “This commitment helps us provide even more opportunities and additional investments into rural communities and agriculture.”
The Compeer Financial commitment to corporate giving will continue the strong tradition of supporting agriculture and rural America, and is likely to include:
- Local and state FFA and 4-H programs
- Local and regional food bank donations
- County, regional and state fairs
- Local, regional and state agricultural organizations
- Disaster relief
- Community support
In addition, Compeer Financial encourages its team members to actively support these efforts with their time.
“Each legacy organization had been generous within the communities they serve and we are extremely pleased to carry on this important work,” says Monson. “We’re in partnership with our clients, and our giving pledge is one more way to share their vision for the future and support their needs.”
“The giving commitment underscores Compeer Financial’s mission as a client-focused, community and ag-oriented financial partner that serves to champion the hopes and dreams of rural America,” explains Hebrink.
“Our goals are to support our communities and help make them a great place to live and do business while providing personalized service tailored to the needs of individual clients,” he adds.