News

UNITED FCS DISTRIBUTING NEARLY $5 MILLION IN CASH PATRONAGE

February 28, 2008

WILLMAR, Minn. – As a result of a strong operational performance in 2007, United FCS, ACA is distributing $4.8 million in cash patronage – a return of a portion of the Association’s net earnings – to eligible customers. United FCS customers and members in Wisconsin and Minnesota will begin receiving payments this week. This distribution puts the combined total patronage to customers at nearly $27 million since formation of United FCS in 2002.

“The success of United FCS is a direct reflection of the success of our customer base and exceptional staff,” said Marc Knisely, CEO of United FCS. “Thanks to everyone’s ongoing support, United FCS posted strong financial results again this year.”  “The cash patronage program is a financial benefit we are proud to offer United FCS customers and members because we know that the strength of our cooperative is dependent on our customers and members maintaining a healthy bottom line. Celebrating and sharing the cooperative’s success with members is one element of our ongoing commitment to the farmers and customers we serve in Wisconsin and Minnesota.”
 
United FCS also recently implemented structural enhancements to help streamline the cooperative. At the beginning of the year, United FCS shifted from four wholly owned subsidiaries to the standard two subsidiary structure common in the Farm Credit System. As part of this initiative, the Association is also transforming the former subsidiary brands to the United FCS name.
 
 “We look forward to implementing the new United FCS brand in the marketplace. Although our signs will be changed, customers can continue to count on the same great service, great staff, 12-convenient branch office locations, and online service at www.unitedfcs.com http://www.unitedfcs.com/ ,” said Knisely.
 
“We are excited about this internal structural change because it will create operational benefits by fully leveraging the strength of the partnership while supporting a common unified approach to serving our customers and rural communities,” said Jerold Harris, Chairman of United FCS. “Thanks to our shareholders, customers and a committed staff, we achieved great results in 2007 and look forward to another strong year in 2008.”
 
 United FCS, a part of the National Farm Credit System, serves nearly 4,400 customer-members with a primary focus on a 22-county service area in West Central Minnesota and North Central Wisconsin providing loans, leases and a wide array of financial services.

Top of page

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
 

UNITED FCS SHAREHOLDERS ELECT NEW BOARD MEMBERS
Annual Meeting marked significant progress on key governance elements

February 8, 2008

WILLMAR, Minn. – Results from the Director election for the United FCS, ACA Board were recently certified. The election was conducted following the December Annual Meetings, which marked a number of positive developments for the Association. A strong slate of candidates vied for nine board seats in the Association’s Minnesota and Wisconsin service area.   

“The United FCS nominating committee presented shareholders with a high-quality slate of board candidates to choose from,” said Marc Knisely, CEO of United FCS.  “As a cooperative, the success of our Association is very much tied to the people who are active in its governance. We see the level of constructive participation in the recent annual meeting and election process as a positive milestone for United FCS.”  
 
The results of the election were the following:

Area A (Wisconsin)

• JoAnn Smith. Smith is from Medford, Wis., and is co-owner of DJR Smith Farms, LLC, a dairy operation.
• Scott Gerbig. Gerbig is from Gleason, Wis., and is a dairy, forage and grain farmer.
• Gary Ruegsegger. Ruegsegger is from Stratford, Wis., and is a dairy and crop farmer, and Maple Ridge Dairy Business, LLC.
• Mary Kay Van Der Geest. Van Der Geest is from Merrill, Wis., and is President of Van Der Geest Dairy Cattle, Inc. and is a dairy, corn and hay farmer.
  

• Gregory Knorr. Knorr is from Wisconsin Rapids and is Vice President of Wisconsin Valley Concrete Products Co., Inc. and serves as president of a cranberry operation.
• Marvin L. Scholze. Scholze is from Humbird, Wis., and is a dairy and grain farmer.
• James R. Jarvis. Jarvis is from Wautoma, Wis., is owner of Jarvis Farm Dairy and is also a grain, livestock, timber and crop farmer.
  

• Donn Peterson). Peterson (re-elected) is from Canby, Minn., and has served on the Association Board for the past 10 years. He is a grain and cattle farmer.
  

• Stanley (Stan) B. Claussen. Claussen (re-elected) is from Montevideo, Minn., and has served on the Association Board for 12 years. He is owner and operator of a grain, and cattle operation.  
  

They join the following board of directors: Dennis Oeltjenbruns, Mark Parker, Jeffrey Thompson, Jim Huisman, Gregory Jans, Bradley Sunderland, Wayland Zaske; and appointed directors, Jerold Harris, Roger Mohr, Richard Pooley and Larry Swain.
 
“I want to thank all of the candidates who participated and the shareholders who contributed to a productive annual meeting and a positive election process,” said Jerold Harris, Chairman of United FCS. “The Board election process is an important part of cooperative ownership and governance. Thanks to the Board, nominating committee and United FCS staff, we continue to make United FCS a strong cooperative for our shareholders and customers in Wisconsin and Minnesota.”
   
United FCS was formed in 2002 through the merger of Farm Credit Services of North Central Wisconsin and Farm Credit Services of Minnesota Valley. With nearly 4,400 current members, the Association provides loans, leases and financial services in its 22 county local service area in North Central Wisconsin and West Central Minnesota.

Top of page