Capital Farm Credit is currently seeking recommendations for this year's Board of Directors and Nominating Committee election.
For more information on either of these opportunities, please see the information below.
Board of Directors:
The Board of Directors is responsible for the general oversight and direction of the Association. The Board establishes and maintains our bylaws and policies. These policies and bylaws direct operations to accomplish business objectives while remaining in compliance with laws and regulations. They hire the CEO and authorize the CEO to employ other members of executive and senior management and maintain direct oversight of the Internal Audit and Credit Review functions through their Audit Committee.
The Board is also responsible for ensuring management has sound financial and operational internal controls in place and that they implement a CFC-wide risk assessment and reporting mechanism. To accomplish these duties, the Board will engage directly with regulators, internal and external attorneys, auditors, and consultants.
To be eligible to serve as a Director of the Capital Farm Credit Board, an individual must meet the eligibility requirements outlined in the Capital Farm Credit Bylaws – Article IV. A summary of the eligibility requirements is outlined below, please refer to the bylaws for a detailed list of eligibility requirements:
- Individual must be a borrower of Capital Farm Credit.
- Individual must not be an employee of Capital Farm Credit, or director or employee of a Farm Credit bank, or another Farm Credit association.
- Individual may not own or serve on the board of a business primarily engaged in the extension of credit, such as a commercial bank.
- Individual must not file or have filed for bankruptcy.
- Individual must not be a party to a foreclosure proceeding (judicial or nonjudicial) or a voluntary conveyance in lieu of foreclosure involving property in which the individual has an interest, which is instituted or executed because of the individual’s default on indebtedness to a Farm Credit System institution.
- Individual must not be primarily or secondarily liable on a loan from any Farm Credit System institution that is adversely classified as substandard or doubtful by the Association, FCBT or FCA.
- Individual must be willing to maintain compliance with the Association’s Standards for Official Loans Policy.
- Individual must not have served on the Nominating Committee in the same election year as running for a Board position.
The Nominating Committee is responsible for nominating at least two candidates for each director position being voted on by stockholders. The Committee should nominate individuals across all areas of the Association’s territory, as well as, to the extent possible, across all types of agriculture. The Nominating Committee consists of two borrowers from each Director Election Region within the Association’s territory.
To be eligible to serve on the Capital Farm Credit Nominating Committee, an individual must meet the eligibility requirements outlined in the Capital Farm Credit Bylaws – Article IV. A summary of the eligibility requirements is outlined below, please refer to the bylaws for a detailed list of eligibility requirements:
- Individual may not serve on a Nominating Committee who, at the time of election to or during service on a Nominating Committee, is an employee, director, or agent of the District Bank or the Association.
- Individual may not be a candidate for election to the Board in the same election year for which the Committee the individual is serving on is selecting nominees.
- Individual must hold voting stock as of the date of the Nominating Committee meeting.
- Individual must conduct an agricultural operation or have a loan or lease originated or serviced by an Association office located in the designated Director Election Region the member is to represent.