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Farm Credit has been undergoing steady consolidation for decades, but an increasingly complex and demanding business environment in recent years has led to a veritable slew of mergers, while other organizations are pursuing different forms of strategic partnerships and alliances – even across district lines – to meet the growing challenges.
“Mergers in the System are one part of a broader strategy as boards and management teams seek continued growth and economies of scale, especially when looking at large technology or other infrastructure investments,” says Chad Moller,
FCCS president and CEO. “They’re nothing new and will likely continue, as will other forms of alliances and collaborations to enhance how organizations are able to support their customers and deliver on their mission.”
The changing economic and business landscape and the increasing complexity of member needs are driving the search for consolidation and collaboration. Economies of scale and the resulting access to improved technology are just one set of benefits often sought through a merger or alliance; for Farm Credit, portfolio diversity and CEO retirements are other frequent drivers.
“A CEO retiring is a natural point for a board to consider the organization’s strategy moving forward, and a merger or alliance should be at least part of the conversation, even if it’s not ultimately pursued,” says Jean Cantey Segal, Chief Learning Officer with FCCS. “In today’s business environment, leaders need the courage to talk about all strategies that could improve the organization and its service to members, including a merger despite all the work and challenges it carries.”
Beyond the actual work of a merger, from due diligence to systems and data integration, it’s equally important to consider whether the partner organizations are a good fit culturally, so that the benefits sought through the collaboration – operational, financial, technological – are ultimately achieved.
“Fortunately for employees and customers, merging Farm Credit organizations are very focused on staff retention, so jobs, customer service and access to capital remain local,” says Chad. “For the System, it’s a matter of how many organizations will ultimately be delivering this local service.”
FCCS offers an array of programs and services to help leadership, individuals and directors align to better serve their members.
“As Farm Credit continues to consolidate and collaborate, FCCS is well positioned to help organizations develop and strengthen new relationships, teams and Boards – ultimately to achieve the intentions driving the merger,” says Chad.
Any merger or strategic alliance carries a host of complex considerations at every level of the organization. Find expert support from FCCS:
• In the Board Room: Leslie Hilton at 303.721.3215 or via email
• Experiential Learning (Gettysburg Leadership Institute, Lewis & Clark Experience, custom programs): John Regentin at 717.752.0495 or via email
• Leadership and Management Development: Jay Lux at 651.982.4568 or via email
• Employee Development and DISC for Intact Teams: Jeannie Clinkenbeard
at 404.617.6917 or via email
• Crucial Conversations: Michele Padilla at 720.939.7182 or via email
• Employee Engagement: Angie Coleman at 303.887.3791 or via email
• Communication Strategy: Stephanie Barton at 303.721.3217 or via email