Members of the Board of Directors play an important role in ensuring the association’s operations are maintained in a safe and sound manner and its public mission to serve rural America and agriculture is being fulfilled.
Directors are accountable to stockholders investors for:
- Understanding the institutions operations
- Providing competent management for the institution
- Establishing Systems and processes that support safe and sound operations
- Diligently and impartially performing duties as a director
- Exercising independent judgment while remaining loyal to the institution’s interests
Director candidates must meet the following eligibility requirements:
- Must be a holder of voting stock;
- A bona fide farmer, rancher, or producer or harvester of aquatic products;
- Reside or farm in the territory of the Association;
- Have an active loan balance with the minimum required $5,000 balance;
- Have an acceptable credit classification
- May not have been an employee of a System institution within one year of election
- May not serve as a director, officer, employee or agent of a financial institution or other entity that engages directly in the business of providing financing or related services products that are offered by the association
