Rural lender changes name

FCS Financial is a member of the Farm Credit System, a nationwide network of cooperative lending institutions that provides credit and financial services to farmers, ranchers, rural residents and agribusinesses.

Changes in the rural marketplace, competition and the future of the agricultural and financial industry brought about the change, according to FCS CEO Daryl Oldvader.

“We’re not moving away from ag lending … upon which our organization was built. We’ve recognized the marketplace changes and are expanding our services to reach a quickly growing new segment, while remaining focused on rural Missouri,” Oldvader said in a news release.

Specifically, the changes include:

• The 2002 Census of Agriculture showed a decrease in the number of traditional/full-time farmers. Unlike that group, nontraditional/part-time farmers or rural lifestylers are on the rise. Given this shift in the rural landscape and the corresponding change in customer needs, FCS Financial realized the need for additional financial service offerings.

• Through research, FCS Financial learned that the “Farm” in its name was seen as excluding individuals who sought land in rural Missouri. By repositioning the brand identity, there is more concentration on the services FCS Financial provides.

More services

In addition to the name change, FCS Financial has expanded its services and created two sub-brands: Ag & Business and Land & Home. The Ag & Business sub-brand will continue to focus on customers whose needs involve agriculture and agribusiness. This program includes farm real estate purchases; operating expenses; equipment, machinery and livestock loans; and risk management tools such as crop insurance, livestock risk protection insurance and life insurance.

The Land & Home sub-brand will serve customers who seek loans for rural homes, investment properties or acreage; insurance products; and equity lines of credit. “Both customer segments represented through the sub-brands are extremely relevant and viable to Missouri agriculture,” Oldvader said, adding that current FCS Financial customers will see no changes to interest rates, contract agreements or terms of service as a result of the changes.