FCS Financial's Proactive Approach to Succession Planning
By Elise Luebbering
Succession Planning Essentials
Ensuring a stable and prosperous future for agricultural communities is more than providing a reliable source of credit at FCS Financial. Fostering continuity and expertise within their team is at the forefront of their goals as a member-owned cooperative. FCS Financial understands that succession planning is as critical for their organization as it is for the longevity of farming operations and the rural communities they serve.
By proactively hiring and training the next generation of leaders, FCS Financial strives to give their member-owners consistent, knowledgeable support tailored to their unique needs. This commitment to seamless transitions and institutional knowledge underscores their dedication to delivering the highest level of service, no matter who is on the front lines.
Carol Meyer was the heart of the Union FCS Financial office for 25 years, serving as the primary loan officer for 10 years. Her well-deserved retirement in 2024 prompted a proactive plan to bring on a new loan officer to continue serving member-owners in the Union area. Blake Boyer began as a trainee with FCS Financial in February 2023 and trained in the Springfield branch for more than a year before relocating to Union in March 2024. He and Carol began working together to provide a smooth transition upon Carol's approaching retirement.
Throughout Blake's six months working with Carol, he enjoyed meeting with member-owners and getting to know their unique operations. His time as a trainee equipped him with the knowledge needed to fill his new role. He recognizes value in the experience of his peers and feels confident having connections with counterparts who can answer questions, provide guidance, and offer encouragement.
“Blake is an ideal fit for our office in Union. Having a full year of hands-on training experience, he has the resources he needs to be successful and will not have to step into this role blindly,” Carol said. “Aside from having many months to take time and meet customers before my departure, he is well-versed in our lending standards and operating systems, and he is practiced at working alongside our support team.”
It Takes a Team
FCS Financial is a dynamic organization with many moving pieces, each contributing to the experience for their member-owners. An essential part of providing borrowers with an exceptional experience is the collaboration across teams. Loan officers, financial support specialists, credit analysts, and appraisers work together to guarantee that members' needs are fully understood and met. This coordinated effort ensures that, even as staff changes occur, the high standard of service and support remains unwavering.
“Our job as the credit team is to take the financial information and analyze the borrower’s plan to repay the credit they are requesting,” Brett Bryant, Vice President and Credit Team Leader, said. “We work back and forth with loan officers as it’s our job to put together the narrative of the loan that we might be approving.”
As new loan officers begin to understand the full scope of a loan approval process, it is not uncommon for them to spend time sitting side-by-side with the credit team at FCS Financial to witness the ins and outs of their responsibilities. This collaborative environment is possible because the credit team is dispersed throughout the branch offices to ensure a smooth customer experience. The credit and loan team members interact daily to ensure member-owners are being provided the best service possible.
“We look for any gaps of information in a request so that the loan officer can go back and get those missing pieces from a customer. There are even times when our analysts will tag along to visit with a borrower and assist in gathering that information. This is especially helpful when certain circumstances have more complexities,” Bryant said.
Aside from the credit team assisting loan officers in gathering complete information, many analysts also have historical knowledge of an operation without ever being the point of contact for customers. This proves valuable when new loan officers join the team and credit analysts can be a source of information. The collaboration evident across teams at FCS Financial reflects their commitment to providing comprehensive support to their member-owners also demonstrated by their employee succession planning.
"This unique opportunity that FCS Financial has to do succession-type planning with employees is simply recognizing a need that's coming and being proactive," Greg Brown, Vice President and Team Leader, Ag & Rural Lending said. "You witness that same mindset for the succession planning of our members. It's incredibly valuable for their farming operations when they can recognize what's coming and be proactive to do something about it."
Succession Planning Brings Success
As demonstrated by FCS Financial, effective succession planning is crucial not only for maintaining the continuity of their operations but also for ensuring the long-term success of the agricultural communities they serve. By investing in the development and training of future leaders like Blake Boyer, they reaffirm their commitment to providing consistent, knowledgeable support to their member-owners. The transition further facilitated by the collaborative efforts of their teams guarantees that even as key personnel like Carol Meyer retire, the high standards of service remain unwavering. By anticipating changes and preparing for them in advance, the member-owned cooperative ensures that both their employees and their member-owners are well-equipped to handle transitions smoothly.
