NEWS
Directors elected for a 4-year term are: Scott Gerbig (Area A) and Jeffrey Thompson (Area C). Nominating Committee members elected for a one year term are: Thomas Hoffman and Bruce Krenz (Area A); Greg Fanning and Kent Lonning (Area B); Wayne Dahl and Cletus Hillesheim (Areas C); Kent Kanten and Scott Olson (Area D). Alternates are: Christopher Beach and Jerold Dick.
The Association congratulates and thanks all the candidates for their willingness to participate in this important aspect of Cooperative governance. A well-deserved thank you to former director JoAnn Smith of Medford for her service on the Board of Directors over the past 21 months.
The Association will be sending out formal notification of the election results to shareholders within 60 days business days of receiving the election results from the Tellers' Committee.
WILLIAM OEMICHEN SELECTED AS UNITED FCS DIRECTOR
Former Senior Minnesota and Wisconsin state official will join board of directors
FOR IMMEDIATE RELEASE CONTACT: Marc Knisely
July 27, 2009 320-214-5024
WILLMAR, Minn. – William L. “Bill” Oemichen, former Deputy Commissioner of the Minnesota Department of Agriculture and the former top state Trade and Consumer Protection official in Wisconsin, has been named as an outside director by the United FCS board of directors. Oemichen’s strong local roots and extensive experience in agriculture, agri-business and rural issues were the leading factors in his selection among a highly-qualified field of candidates.
“Bill’s professional and personal background offer the membership of United FCS a director who is well equipped to serve the business interests of our shareholders and who brings a personal understanding of the needs of rural communities in Minnesota and Wisconsin,” said Mark Parker, Chairman of the United FCS Board of Directors. “We look forward to having Bill join the board and are confident that his experience and skill set will build on the positive results already achieved since the formation of United FCS and the many benefits and services offered to farmers and the communities we serve.”
As an outside director on the United FCS board of directors, Oemichen will join with members of the Board in setting strategic direction, developing Board policy, and providing oversight of its business affairs and ensuring that the Association fulfills its public mission while continuing to operate in a safe and sound business manner. Board members are expected to have a broad awareness of and business experience in relevant areas, including agriculture, general corporate governance, finance, and strategic and business planning.
“I am very pleased to join the United FCS Board of Directors because of the extremely important role United plays in financing Minnesota and Wisconsin agriculture and the strong commitment United has demonstrated toward keeping agriculture as one of the leading industries in each state,” said Oemichen.
Oemichen is filling an existing outside director position on the board and will be formally seated to a four-year term in September following the United FCS 2009 Annual Meeting. His extensive experience in this field is expected to align well with the United FCS board responsibilities. This experience includes:
- Raised in Swift County, Minnesota where his parents owned and operated a farm and relatives who farm in Clark County, Wisconsin.
- Currently serves as president and chief executive officer of Cooperative Network, a trade association for more than 600 cooperative businesses in Wisconsin and Minnesota.
- Served as an outside director for Greenstone FCS for more than six years and serves on the Board of FCCServices.
- Former Deputy Commissioner and Chief Legal Counsel for the Minnesota Department of Agriculture.
- Former Wisconsin Trade & Consumer Protection Administrator with the Wisconsin Department of Agriculture, Trade and Consumer Protection.
“In a Cooperative structure, solid board governance plays a major role in laying the foundation for a successful organization,” added Marc Knisely, CEO, United FCS. “I commend the Board’s Nominating Committee for putting forth a slate of highly qualified candidates for the position.”
About United FCS
United FCS is headquartered in Willmar, Minnesota and serves a primary service area of 22 counties in Minnesota and Wisconsin through 12 retail branch locations. United FCS is a locally-owned cooperative with over 4,600 members and more than $1 billion in total assets. For more than 93 years, the Farm Credit System (FCS) has provided loans, leases, insurance, accounting services, and numerous financial services that benefit agriculture and rural America.
UNITED FCS DISTRIBUTING NEARLY $5 MILLION IN CASH PATRONAGE
WILLMAR, Minn. - As a result of a strong operational performance in 2008, United FCS, ACA is distributing $4.8 million in cash patronage - a return of a portion of the Association's net earnings - to eligible customer-members. United FCS members in Wisconsin and Minnesota will begin receiving payments this week. This distribution paid to customers puts the combined total patronage to over $38 million since formation of United FCS in 2002.
“United FCS is fully committed and always focused on our mission of enhancing the success of our membership,” said Marc Knisely, CEO of United FCS. “Our results illustrate the advantages of working together cooperatively for the benefit of our members.” Knisely also noted, “Sound operating practices has well positioned the Association to meet the challenges of increasing risk associated with the global economic situation and the volatility impacting certain agricultural sectors. We know that the strength of our cooperative is dependent on the positive impact we have on assisting our customer-members in maintaining a healthy bottom line. Celebrating another successful year for the Association by returning cash to customer-members through patronage is one of many ways we provide membership value, and it supports our philosophy of returning excess capital in a sound and prudent manner.”
“United FCS is committed to the cooperative principles of returning excess capital to qualifying members in the form of patronage,” said Mark Parker, Board Chair, “In fact, we take it a step further by returning all patronage 100% in cash. I'm also pleased to share that the Board of Directors has adopted a resolution authorizing continuation of the patronage program for 2009, subject to Association performance.”
United FCS is a part of the National Farm Credit System that has been supporting agriculture and rural communities for over 92 years. Serving over 4,400 customer-members it has 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.