Cultivate Magazine: Fall 2023

CULTIVATE

OUR PROFITS ARE IN GOOD HANDS: YOURS.

A true partner is defined by those they support. At Compeer Financial, we’re defined by you. So we do things differently as a cooperative, like sharing $202 million in patronage with our member-owners this year — and more than $1 billion in patronage paid back since 2017. It’s part of delivering on our mission to champion agriculture and rural America by keeping our clients at the center of all we do.

CULTIVATE

Volume 7, Issue 3

Fall 2023

EDITORIAL STAFF

Nora Nolden, Editor

Chastity Valvick, Editor

Amy Barnett, Assistant Editor

Anna Vangsness, Writer

Terri Fast, Contributing Writer

Terri Poburka, Designer

DIRECTORS

Ashley Ahl Merrillan, Wis.

Rodney Bosma Rushmore, Minn.

Ann Broome Austin, Texas

Allyn Buhrow Ashton, Ill.

Mark Cade Westby, Wis.

Dan Erickson Alden, Minn.

Tim Evert North Freedom, Wis.

Larry Fischer Sleepy Eye, Minn.

Dale Holmgren N. Mankato, Minn.

Dave Peters Manteno, Ill.

Greg Pollesch Oshkosh, Wis.

Dan Scheider Freeport, Ill.

Kimberly Wedig Darlington, Wis.

Stephanie Wise Joliet, Ill.

Cultivate is a publication of Compeer Financial®, ACA. Compeer Financial exists to champion the hopes and dreams of rural America. This publication is copyrighted in its entirety. Cultivate is published by Compeer Financial, 2600 Jenny Wren Trail, PO Box 810, Sun Prairie, WI 53590.

Please send address changes to Compeer Financial, Attn: Cultivate Magazine, 2600

Jenny Wren Trail, PO Box 810, Sun Prairie, WI 53590 or call (844) 426-6733.

Compeer Financial, ACA is an Equal Opportunity Employer, Lender and Provider. Equal Credit Opportunity Lender. Compeer Financial is a registered trademark of Compeer Financial, ACA. ©2023 All rights reserved.

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6 A Legacy of Growth & Partnership

MAC Cattle Co. Thrives with a Supportive Network

8 Using Cover Crops to Grow Green

The Janski Family’s Innovative Approach to Sustainability

10 Making it in the Muck

Gumz Muck Farms is 2023 Food & Agribusiness of the Year

14 Rural Real Estate Revolution

Redefining the Country Dream

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16 Mastering Your Operation

The Key to Success Lies in Measuring What You Manage

18 Stay One Step Ahead

How to Shield Yourself from Fraud and Cybercriminals

20 Sowing the Seeds of Success

Board Member Mark Cade’s Journey in Farming for a Sustainable Future

4 CEO Message

22 What’s New at Compeer?

Cover: Richard Gumz, of Gumz Muck Farms, walks through the rich muck soils of southern Wisconsin, looking at the newly emerged potato plants.

Cultivate is brought to you by Compeer Financial. This publication’s name represents our cooperative’s commitment to growing long-term relationships with our member-owners and championing the hopes and dreams of rural America. Comments or suggestions for future issues can be sent to Compeer-CommunicationsTeam@compeer.com.

Wishing You a BOUNTIFUL HARVEST

State fair season, undoubtedly the best time of year, brings people together from all corners of the region to indulge in dizzying carnival rides, delectable and unique food options and incredible talent on the stage. And let’s be honest, who can resist the allure of deep-fried pickles at the fair every year? But amid all the fun, one thing remains at the heart of it all — agriculture. From the awe-inspiring displays of farm equipment to the creative 4-H projects and the livestock in the barns, the fair truly celebrates the essence of agriculture. It’s a chance for those from non-farm backgrounds to experience the world of farming firsthand, whether it’s milking a cow, feeling the soft wool of a sheep or simply meeting a farmer.

With the arrival of fall, state fair traditions fade into the background and we step into the harvest season. Agriculture, as always, faces constant change and evolution — and this summer’s drought conditions posed challenges and uncertainties as we approach the harvest. But such realities are an inevitable part of agriculture and rural America. While we can’t control the weather, there are steps we can take to mitigate its impact, like carefully managing your operation’s numbers. On page 16 of this issue, you’ll find some valuable tips on how tools like cash-flow statements, cost of production calculations and marketing plans can help make critical farm decisions more data-driven and less of a guessing game.

At Compeer Financial, managing risk is a fundamental aspect of our cooperative. We strive to maintain a strong position not only to offer you a reliable source of capital but also to provide the benefits that come with being a member-owner. Our unique patronage program is a testament to this commitment. This year, Compeer is proud to return $202 million in patronage to our member-owners. We understand the significance of patronage returns for our clients, and

we remain dedicated to sharing our success through patronage checks now and in the future.

Being your cooperative, we also take it upon ourselves to amplify the voice of rural America and agriculture on Capitol Hill. In May, I had the privilege of testifying before the Senate Committee on Agriculture, Nutrition, & Forestry’s Subcommittee on Commodities, Risk Management, and Trade, where I emphasized the importance of crop insurance programs and the need for more support for young and beginning farmers.

Celebrating agriculture and those who contribute to it is equally essential. In this issue, we shine a spotlight on Gumz Muck Farms (page 10), a producer and packer in Wisconsin, honored as Compeer Financial’s 2023 Food & Agribusiness of the Year. Additionally, we share the story of the Janksi family (page 8), who are embracing sustainable practices and conducting research to make their operation in central Minnesota grow greener.

As we approach the harvest season, the team at Compeer wishes you a safe and bountiful harvest. It is truly an honor to serve you, and we are proud to be by your side.

Jase Wagner President and CEO

“ We strive to maintain a strong position not only to offer you a reliable source of capital but also to provide the benefits that come with being a member-owner.”

Welcoming to our executive leadership team!

BETSY & SUSAN

Horton CHIEF FINANCIAL OFFICER

The strong business acumen, proven leadership and expertise both Betsy and Susan bring to the table in their respective roles will help advance our business strategy and accelerate our performance as we move our cooperative into the future. Susan and Betsy bring top-tier talent to our organization and I’m thrilled to welcome both of them to our team.

JASE WAGNER | PRESIDENT & CEO

Susan Sachatello CHIEF MARKETING OFFICER

“ Betsy

A Legacy of

GROWTH & PARTNERSHIP

MAC Cattle Co. Thrives with a Supportive Network

QUINCY, Ill. — In the Illinois heartland, amid rolling fields and a strong agricultural tradition, MAC Cattle Co. stands as a testament to the hard work and dedication of the Maiers family. With Kenny and Sandi Crim at the helm, along with their daughter Leann Maiers, Leann’s husband Tim and their son Trevor, MAC Cattle Co. has emerged as a thriving grower cattle operation, earning a well-deserved reputation in the farming industry.

SCALING WITH CARE

The foundation of MAC Cattle Co.’s success lies in their meticulous approach to raising and nurturing their livestock. The operation follows a unique process, starting with acquiring cattle when they weigh around 600 pounds. The family then diligently feeds and cares for the animals until they reach a weight of 900 pounds. At this point, the cattle are sent out West for finishing on a feedlot. This strategic approach allows MAC Cattle Co. to leverage the location of their farm, raising the cattle to an optimal weight before shipping them for the final stages of growth.

With barns capable of accommodating 800 feeder cattle at a time, MAC Cattle Co. operates with three rotations per year,

amounting to an impressive total of 2,400 animals passing through their facilities annually. This remarkable scale of operation reflects the family’s commitment to growth and their ability to adapt to an evolving industry.

“I really knew I wanted to be a farmer when I was about 18,” Trevor said. “It’s important for me to keep our operation adaptable so we can stick around for many more generations to come.”

PARTNERSHIPS FOR PROGRESS

As MAC Cattle Co. continues to expand and evolve, they rely on their trusted partners to navigate the ever-changing landscape of agriculture. Jessica Carolan, their financial officer at Compeer Financial, serves as an integral adviser alongside nutritionists and veterinarians. Together, they form a panel that provides valuable insights and ensures the utmost care for the cattle. This open line of communication and consultation exemplifies the strong partnership between MAC Cattle Co. and their advisers.

“As a family, we believe in constant improvement and learning,” Tim said. “The discussions we have with our advisers directly impact the health and well-being of our cattle. It’s a true partnership built on trust and open communication.”

COMMUNITY SUPPORT

The dedication and passion of the family have not gone unnoticed in the community. Leann and Tim received the prestigious Quincy Farm Family of the Year award this year, recognizing their outstanding contributions to the local farming community. Meanwhile, Trevor, a young leader with the Illinois Beef Association, actively participates in industry initiatives, further highlighting the family’s commitment to promoting and improving the beef industry.

“Being involved with the Beef Association at the county level gives me a good local network,” Trevor said. “And attending events like Compeer’s GroundBreakers Conference gives me a huge edge in learning what’s going to happen and preparing to deal with future challenges.”

With a clear vision, strong partnerships and unwavering dedication, MAC Cattle Co.’s story is one of resilience, growth and a deep-rooted passion for agriculture. The operation’s rapid evolution and adaptability are a testament to the family’s entrepreneurial spirit and their desire to provide quality products to the market. The Maiers family, supported by their agricultural network, is paving the way for a promising future that will inspire generations to come.

Above opposite page: The Maiers family handles approximately 2,400 head of cattle every year on their rural Illinois farm.

Above top: MAC Cattle Co. relies on strategic advisers for input and guidance to help the operation grow at an efficient and healthy rate.

Above bottom: With son Trevor (right) joining the operation as part of the next generation, his father Tim (left) and Financial Officer Jessica Carolan at Compeer (center) provide guidance and partnership.

WATCH THE STORY OF MAC CATTLE CO. IN THIS VIDEO FEATURING THE MAIERS FAMILY.

Scan the QR code above to watch.

Using Cover Crops to GROW GREEN

WAITE PARK, Minn. — Janski Farms, a family-owned business for four generations, is embracing sustainable practices to grow greener. Since 2017, brothers Daniel and Thomas Janski have implemented no-till practices with cover crops on their sprawling 4,000-acre family farm near South Haven, Minn. The inspiration for this approach stemmed from Thomas’ research into why certain fields were performing more poorly than others.

“Some just weren’t getting as good of a yield as they should have, and I started thinking about the reasons why.” Thomas said. “That’s when I wondered if cover crops could be the solution. Once we planted them, we realized that area was yielding quite a bit better. By preserving the topsoil and retaining the water, the new plants thrived.”

Cover crops are sown in spring after the ground has greened up. They mimic undisturbed soil, keeping the nutrient-rich soil in place and retaining moisture in the ground. The Janski farm cultivates corn, soybean, rye, alfalfa, peas, oats, hemp and houses 1,000 head of dairy, beef and finishing calves. The ability to adopt a greener approach through cover crops enhanced the farm’s sustainability, Daniel said.

“We cultivate our cover crops in the fall, and in the spring we’re able to plant our corn, peas, small grains and alfalfa,” he explained. “We’re cycling nutrients back into the land and,

in turn, the land is helping us by growing our crops. That’s us growing green.”

Initially skeptical when Thomas started the farm’s sustainability efforts, Daniel now wholeheartedly embraces the concept.

“Thomas is the one trying to pull me back now,” Daniel said with a smile. “I love it. I’ve done so much research and am always trying to find new ways to be sustainable.”

Going beyond cover crops, the duo is currently exploring the effects nitrogen has on soil health. “We’re looking into nutrient management by taking nitrogen and injecting it through our irrigation systems,” Thomas explained.

Nitrogen, already present in the soil, enhances plant growth by increasing ions and providing extra energy.

“Cycling the nutrients helps our bottom line,” Thomas said. “Cover crops and sustainability go together. We were struggling with some of our farms and some crops. It was frustrating. We basically had to open the door to other options or quit doing those specific farms.”

“Last night, I was out there spraying and I was looking at the field with a head lamp on,” Daniel said. “I’ve never realized it before, but the earthworms were out cycling nutrients. I could actually see the worms slurping down the soil.”

Daniel explained that tilling the fields covers the wormholes, obstructing the worm’s access to the surface and their ability to feast on the soil’s nutrients. “Discovering things like this has sparked my interest,” he said. “There’s always something more to learn.”

The Janski brothers have found a great support system in like-minded farmers and their Compeer Financial Officer, Jay Thissen. “He always jumps on board with our ideas,” Daniel said. “The biggest thing has been he always gives us advice in situations that we’re unsure of. He’s really someone we’re not afraid to ask a financial question to because he’s such an intelligent person.”

Daniel and Thomas have learned much of their sustainability practices from online research and a hands-on approach. They encourage other operations to do the same if they’re looking to increase their growing green ways.

“Always shoot for the sky,” Daniel said. “Visit the farms that are doing it themselves. Go and see how a regenerative farm or cover crop farm works, and keep those people as resources as you learn for yourself.”

Above top: Brothers Thomas Janski (left) and Daniel Janski (right) have a passion for researching and improving field performance through sustainable practices. Above bottom: Daniel inspects the family’s fields on their 4,000-acre farm in central Minnesota.

“We were struggling with some of our farms and some crops. It was frustrating. We basically had to open the door to other options.” — Thomas Janski

Making it IN THE MUCK

ENDEAVOR, Wis. — In the muck fields of southern Wisconsin, the newly emerged potato, onion, carrot and mint plants burst forth in a brilliant bright-green hue against the backdrop of black, nutrientrich muck soil. Since the early 1990s, brothers Roderick and Richard Gumz have owned Gumz Farms, which also grows corn and soybeans as rotational crops. But the farm’s history runs as deep as the muck fields themselves. Their great-grandfather immigrated from Germany in 1892 and began muck farming in Indiana. The operation expanded in the 1940s when the second generation added several satellite farms in Wisconsin. Today, the brothers are the fourth generation of Gumz to farm in the United States.

Apart from cultivating specialty crops on 6,000 acres, Gumz Farms also packages various potato and onion varieties for retail consumption, accounting for approximately 40% of Wisconsin’s onions, and handling about 20% of the state’s fresh-market red potatoes. They also distill mint into oil for flavoring in products like chewing gum and toothpaste.

“Growing in muck soil is very different,” Richard explained. “Muck contains up to 60% organic matter originating from former lake beds that have gradually drained over time either naturally or through human intervention. One challenge we face is that muck soil retains a lot of moisture. With a high water table, we’ve implemented ditching and sub-surface tiling to remove excess water.”

To address these challenges and improve efficiency, the Gumz brothers embraced innovation in both field operations and the packing shed.

“We truly believe where there’s a challenge, there’s an opportunity,” Roderick said. “By adopting different approaches, we aim to enhance effectiveness and create a better workplace experience for our employees.”

To optimize field operations, Gumz Farms extensively employs guidance and precision agriculture practices, especially for crops requiring multiple passes over the rows during the growing season.

“These practices simplify tasks for our operators and shorten workdays,” Richard noted. “We’re getting more accurate work in the fields and reducing frustration for our employees.”

In the packing operation, investments in storage facilities and automation have enhanced productivity, reduced employee fatigue and ensured the delivery of high-quality products.

“Adding climatecontrolled storage facilities for our onions and potatoes enables us to extend the marketing season,” Roderick said. “This allows us to offer more year-round and full-time positions, which is key in retaining employees.”

Richard added that many of their innovations in packing revolve around labor savings. “We have automatic balers that can weigh out and assemble 3-pound packages of onions, which are then placed into 50-pound master bags for shipment to retailers,” he explained. “Our automatic palletizer robotically stacks our produce, which makes for a nice presentation while significantly reducing manual labor for our team.”

To further maximize automation, the operation has also incorporated an auto-grader for onions.

Continued on page 12

Opposite page: Richard Gumz walks through one of their muck fields, a unique soil type the family has generations of experience in. Below left: Gumz Farms has expanded to add storage for onions and potatoes, further extending their marketing season.

Below right: L to R: Roderick Gumz, Richard Gumz and Compeer Financial Officer Cathy Schommer.

“We truly believe where there’s a challenge, there’s an opportunity.”

— Roderick Gumz

Continued from page 11

PARTNERSHIP FUELS GROWTH

Investments like this take capital, and Gumz Farms partners with Compeer Financial to help make these opportunities a reality.

“Richard and Roderick are very forward thinking,” said Cathy Schommer, VP of food and agribusiness at Compeer. “We’ve worked with Gumz Farms for more than 20 years, and they’ve excelled in managing risk and looking for ways to improve production, processing and marketing. They have clear goals not only for their own success but also for the well-being of their employees, business partners and the local community."

Roderick noted that Compeer understands the intricacies of agriculture, including the inherent adversities and challenges. “When we look at opportunities to make investments — whether it’s investing in buildings, equipment or people — it takes capital. Compeer not only provides the necessary funding but also offers education, shares experiences and imparts knowledge to guide us in a productive direction. We’re grateful for this collaborative relationship.”

FOOD & AGRIBUSINESS OF THE YEAR

In recognition of their dedication, innovation and leadership, Gumz Farms has been honored as Compeer Financial’s 2023 Food & Agribusiness of the Year The award recognizes businesses in the food and agribusiness supply chain, encompassing processors and manufacturers in the food and beverage industry, fiber production, biofuel, grain merchandising, ag inputs, logistics and more. The award celebrates excellence in innovation, agricultural advocacy, community outreach and client service.

“Gumz Farms is a leader in their field,” Schommer observed. “They’ve not only ventured into growing specialized crops but have done so on highly specialized soils. Compeer takes pride in recognizing and applauding their achievements as the Food & Agribusiness of the Year. Businesses like Gumz Farms enhance the vitality of rural America by providing diverse employment opportunities and supporting rural development, fostering resilient rural communities.”

For the Gumz brothers, telling the story of agriculture also plays a vital role in their success.

“Being advocates for agriculture is crucial because if we don’t tell the story, who will?” Roderick said. “There are fewer and fewer of us to share this story, and producers like us are best suited to do so because we are directly involved with agriculture. We contribute to the story by actively participating in a variety of state and national industry associations and engaging with our local community.”

The brothers hope that this narrative will continue for generations to come.

“The future for Gumz Farms is bright,” Roderick added. “The crops we grow are in demand, we’ve got a great team and the next generation of Gumz Farms is stepping up. As long as we continue to evolve and look for opportunities, Gumz Farms will undoubtedly be a part of the agriculture community for years to come. The future is unlimited and we are excited!”

Scan the QR code to watch the Gumz Muck Farms video.

Above left: Gumz Farms has invested in technology in the storage and packing shed to create efficiencies in packing onions and potatoes for retail.

Above center: L to R: Richard, Linda, Roderick, Jason, Michelle and Jacalynn, the fifth and sixth generation of Gumz farmers.

Above right: Gumz Farms handles about 20% of the red potatoes grown in Wisconsin.

Rural REAL ESTATE REVOLUTION

Redefining the Country Dream

In the past, farm properties were typically passed down through generations. While this is still true for many, an increasing number of farmers find themselves without any family members interested in continuing the operation. This coincides with an upswing in urban and suburban residents seeking green space for their families, a slower pace of life and a place to grow their own food.

“The pandemic brought about significant changes in American culture and society,” said Chris Pickens, lending officer at Compeer Financial. “During lockdown, remote work became the norm, prompting people to rethink their work-life balance, priorities and how they want to raise their children.

“Newcomers to rural areas, who have no prior experience with this environment, are looking for ways to acquire more property with the same amount of money,” she continued. “They want the ability to work remotely, enjoy more leisure time and get away from the hustle and bustle.”

FARM PROPERTIES TRANSITION

Although current interest rates are higher than they’ve been in recent times, they are nowhere near as high as they were in the ’80s and ’90s. Older buyers remember mortgage rates reaching 12% or even higher, making them less intimidated by today’s rates.

According to Pickens, “Younger buyers are generally less willing to borrow at higher rates. Younger clients who can’t find a property in their price range are opting to wait, which is a risky move given the low inventory we’re currently seeing in the rural property market.”

The limited supply gives sellers an advantage, allowing them to maintain their purchase prices and avoid working with buyers who have contingencies.

While interest rates are a top concern for many homeowners, Chad McGlothlen, director of lending at Compeer, stressed that rates shouldn’t be the sole determining factor. In other words, don’t pass up on your dream property just because you’re waiting for a specific rate.

“When you’re purchasing a property, you’re often saying it’s a property that you want to last forever,” he noted. “The interest rate is merely a reflection of time, and I wouldn’t advise someone to delay buying a house for a year just because they’re waiting for rates to decrease.”

BUYERS PREPARE

Another growing trend Pickens has noticed is the amount of research buyers conduct ahead of time.

“As a general rule, buyers are not making hasty decisions,” Pickens said. “Increasingly, buyers are doing their due diligence to gain a good understanding of interest rates, available properties and precisely what they are looking for.

“I’m also seeing a more practical approach to purchasing rural properties,” she continued. “More buyers are looking for potential farm income and opportunities to grow their own food. Having control over where their food comes from is a huge influencer on these urban transplants.”

That’s why it’s important to thoroughly research and understand your options. You don’t want to get stuck with an adjustable rate or short-term mortgage with little flexibility.

“Increasingly, buyers are doing their due diligence to gain a good understanding of interest rates, available properties and precisely what they are looking for.”

— Chris Pickens, Lending Officer, Compeer Financial

Buying a rural home at any time presents its own set of challenges, but investing a little time and effort goes a long way. Working with seasoned professionals, conducting thorough research in advance and identifying your priorities will help you find the right country home for your family.

Mastering YOUR OPERATION

The Key to Success Lies in Measuring What You Manage

When you have to make big decisions about your farming operation, what are some of the factors you think about? Do the latest headlines swirl through your head? You might wonder about market trends or external factors in the economy and trade. What about your home life? It may be things like the bills on your desk, the needs of your family or even upcoming vacation plans that come to mind.

Farming is a complicated business that’s constantly evolving. When it comes to managing your business, cut out the outside noise and focus on what you can control. Managing your operation by the numbers will help take the emotion and guesswork out of decision making.

CASH-FLOW STATEMENTS

Do you have a clear picture of funds coming in and going out of your farm on a monthly, quarterly and annual basis? By completing a cash-flow projection each year, you’ll better understand your unique cash-flow demands. Remember that cash flow and profitability are two separate measures. An operation needs both to survive and thrive from one generation to the next.

To create a cash-flow projection, estimate when you need to pay cash expenses and when cash income will come in. This projection will help you anticipate in which months your cash inflow meets your outflow needs and which months it might not. Now, you can plan ahead to cover cash shortfalls.

Compeer has an online cash-flow template, find it at compeer.com/templates.

The best time to create a cash-flow statement for the upcoming year is in the fall. Then, update it monthly as your projected numbers become final and cash-flow demands change. The cash-flow statement will help you make decisions such as when to sell grain, if and when to expand your operation, or when to make equipment purchases. It also helps keep your interest expense down by better managing the funds you borrow on a month-to-month basis.

COST OF PRODUCTION

The best way to know that you’re making the right marketing and input-buying decisions is to calculate your cost of production. Knowing this number is key in managing profitability. There is no riskier business than farming, and it starts even before that first seed goes into the ground. What are the best- and worst-case scenarios for your farming operation? There’s only one way to find out: Measure it!

You’ll want to calculate your breakeven numbers using 10-year historical Actual Production History (APH) yields. Be sure to calculate your production and input costs on a per-bushel basis. Compeer’s Margin Manager tool helps to calculate costs for your operation. Remember to include the following:

• Family-living costs

• Non-farm income

• Equipment payments

• Real estate loan payments

• Additional interest expenses

• All input costs: seed, fertilizer, chemicals, insurance, labor, fuel, etc.

MARKETING PLANS

After you know your cost of production, develop a written marketing plan to keep your operation at a profitable level. When marketing your grain, you may have the urge to gamble a bit or overanalyze. Too many of us get to our target price, then hold on as we hope for another 10 cents or 20 cents. Before we know it, the market swings the other way and we end up below our target price.

The best way to approach a marketing plan is to write it down. Create a timeline for when you would like to have 25%, 50% and so forth of your grain sold. You will be amazed at how much easier it is to make decisions when the time comes because it was part of your plan all along. Set a price, and when it gets there, pull the trigger. Plans can change, evolve and grow, but you need a starting point. You have so much information at your fingertips today. Between social media, market news, weather apps, acreage reports and local coffeeshop chatter, it can be hard to manage it all. Just remember, you can only manage what you measure. Know your cost of production, project your cash flow and stick to your marketing plan to rest assured you’re managing your operation to its fullest.

Thank you to Elizabeth Kempel, Compeer Financial senior credit officer ag lending, for contributing to this article.

TOOLS AT YOUR FINGERTIPS

Compeer’s financial document templates are a great resource for getting your numbers down and managing what you can measure. Go to compeer.com/templates

There you’ll find:

• Business Plan Template for Emerging Markets

• Cash Flow Projection Template

• Family Living Cost Estimate

Visit compeer.com/resources/tools to explore even more:

• Amortization Calculator

• Balance Sheet

• Business Plan Template

• Crop Insurance Dates

• Crop Insurance Text

• Dairy Margin Manager

• DTN Market Information

• Grain Margin Manager

• Margin Protection

• Mortgage Calculator

• Secure Email

• Timber Margin Manager

STAY ONE STEP AHEAD

How to Shield Yourself from Fraud and Cybercriminals

Unfortunately, fraud is more prevalent than ever. It’s crucial to protect your operation and income from cybercriminals. Simply locking the doors and limiting outside access are not enough. You need a strong cybersecurity protection and response plan for your critical computer infrastructure and information.

Over the past few years, businesses across all industries have reported an uptick in vendor impersonations and wire fraud attempts. Fraudsters will impersonate a vendor, instructing a client to change wire destinations, ultimately stealing the funds. They may also uncover email addresses to change wire address information. Check fraud, including stealing checks and check washing, has also been on the rise, causing individuals to lose thousands of dollars.

The good news is that you can never be too safe when it comes to taking the necessary precautions to protect your hard-earned assets and business. Here are techniques to incorporate into your farming business practices to safeguard against identity thieves, hackers and cybercriminals:

• Protect your accounts

Create separate bank and credit card accounts for your business and personal life. This way, if hackers get their hands on one account, they won’t have access to the other.

• Use Multi-Factor Authentication

Use an authentication method that requires two or more verification factors, like a one-time pin in addition to a password.

• Create strong passphrases with a password manager

Use a password manager (LastPass, Bitwarden, etc.) to securely store unique and complex passphrases that are difficult for hackers to guess.

• Protect yourself against phishing scams and identity

theft

Always verify the sender of emails or phone calls before providing sensitive information. Never provide your

passwords or passphrases to anyone. Download files, apps and plugins only from trusted sources, as malware can be disguised or hidden in legitimate software.

• Use protective controls and architecture

Properly configure and secure internet-facing network devices, disable unused or unnecessary network ports and protocols, encrypt network traffic, and disable unused network services and devices.

• Provide employee training

If your operation is large enough, provide annual security awareness training to employees and provide a method for reporting suspicious behavior.

Implementing these tips will help lessen the chance of hackers accessing your information. However, if you or your operation is a victim of a data breach, follow these steps to minimize the effects:

• Contain the breach

Preserve evidence by disconnecting your internet connection, disabling remote access, maintaining firewall settings, installing legitimate pending security updates and changing all passwords.

• Report the crime

Immediately contact your financial institution(s) and credit card holders if you discover a fraudulent incident. Report the attack to the Internet Crime Complaint Center, which will forward the information to enforcement authorities. If you or your farm is the victim of a data breach, ransomware attack or network intrusion, contact your closest FBI field office or report it to tips.fbi.gov.

Thank you to Andrew Geil, Compeer Financial principal security analyst, for contributing to this article.

Compeer Financial has resources to help clients avoid or respond to these types of attacks.

As your financial services partner, we are committed to helping you reach your goals. Please contact our team for additional support. If you suspect your system has been compromised, call us immediately at (844) 426-6733.

Stay in Touch

• Share

of you or your crew enjoying your harvest treats on social media and tag Compeer Financial. We’d love to see where you’re at and how harvest is going in your area.

• Sign up for reminder text messages today. Register to receive alerts on important insurance dates and deadlines, as well as insurance product information.

Sowing the SEEDS OF SUCCESS

Mark Cade’s Journey in Farming for a Sustainable Future

WESTBY, Wis. — Compeer Financial Board Director Mark Cade farms on rolling hills in Westby, Wis., just down the rural road from his childhood home. Growing up on a 75-head dairy farm, Cade developed a passion for farming and a lifelong commitment to agriculture.

“I’ve always been drawn to the genetics aspect of farming and helping with the dairy herds,” Cade said. “When I finished high school in 1980, I took out my own loan with Compeer (formerly Badgerland Financial) and started my own operation. My dad had always borrowed from Farm Credit, and I appreciated the long-term relationship and trust built with financial officers.”

When Cade and his wife Cheryl married, they moved to their current homestead and expanded their livestock to include 55 more cows. However, in 2014, they made the decision to sell the dairy portion of their operation.

“We had to decide whether to expand our dairy operation or move in a different direction with our children having other careers as well,” Cade explained. “We made the decision to start a cow-calf operation and shift to a cash grain operation.”

Today, Cade, along with his sons Travis and Austin, farms corn, soybean and alfalfa on 800 acres and manages a beef herd of 75. His daughter Tiffany operates her own organic tomato farm just three miles down the road.

With the intent of preserving the farm for future generations, Cade and his sons established a limited liability company. He hopes to see his sons carrying on the family farming tradition after he retires.

“That’s always been the goal: to keep it going for the next generation,” Cade said. “Hopefully, they’ll do the same for their kids.”

CONTRIBUTING TO THE COMMUNITY

Cade graduated from Western Technical College in La Crosse, Wis., with degrees in farm business management and finance. His passion for both farming and finances inspired him to seek a spot on Badgerland Financial’s Board of Directors in 2006.

“My previous financial officer encouraged me to submit my name and see what happens,” Cade recalled with a laugh.

Over the past 17 years, Cade has actively served on all of the cooperative’s committees, including his current role on the Finance and Audit committees. He has also held the positions of vice chair and chair. Cade brings a unique perspective of being a Board member through the merger process that created Compeer Financial.

“Tough decisions had to be made, and those decisions are what makes Compeer so great today,” he said. “Compeer wouldn’t be what we are today without directors in legacy associations putting the future needs of the organization ahead of themselves as we merged and downsized the boards.”

Cade said one of the most significant changes accompanying Compeer’s growth and scale has been the shift to a digital and on-farm model. He believes this shift has enhanced Compeer’s ability to better serve clients, who play a vital role in the organization’s success.

“Personally, I like doing things online because I can be more efficient,” he said. “Change is never easy, but we have to stay relevant for the future, while maintaining the personal relationships that are a hallmark of working with our cooperative.”

ANTICIPATING THE FUTURE

Cade eagerly looks forward to expanding his operation further before he retires. From day one on the farm until now, he continues to derive satisfaction from knowing that his work makes a difference in the world.

“I like knowing that we’re feeding the country,” he said. “That’s one of the great things about this job. That, and there are so many other jobs tied to agriculture. It’s all about the bigger picture.”

Left: Mark Cade has served on the Board of Directors since 2006, helping to position the organization for growth and change to better serve clients in agriculture.

HOLIDAY HOURS

Compeer Financial will be CLOSED for business in observance of these upcoming holidays:

Labor Day: September 4

Thanksgiving: November 23 and 24* Christmas: December 25

*For your convenience, our CONTACT CENTER will be open for calls Friday, November 24, from 8 a.m. to 3 p.m.

To reach the Contact Center, please call (844) 426-6733.

VOTE ONLINE IN COMPEER’S ELECTIONS

Member-owners who qualify to vote in Compeer Financial’s election for the Board of Directors and Nominating Committee will receive their ballots in early September. You have the option to either return a paper ballot or cast your vote electronically.

Participating in the election is an opportunity for you to express your voice and influence leadership of the cooperative. At Compeer, Board members play a crucial role in establishing business direction, evaluating cooperative operations and considering the needs of clients, the agriculture industry and the evolving marketplace.

A few important details to remember for the 2023 election:

• There are three director positions and 24 Nominating Committee positions open.

• Ballots must be submitted by Oct. 6.

To learn more about the 2023 candidates, visit compeer.com/elections

SHARE YOUR IDEAS IN COMPEER FINANCIAL’S ONLINE COMMUNITY!

The Compeer Collective is an opportunity for our clients to connect, interact and engage to share insights and have a voice in the cooperative. Through forums, surveys, polls and other conversations, you’ll be able to share your knowledge, provide input, make recommendations, seek advice and discuss relevant topics with other like-minded clients. And your participation will earn you points to redeem for gift cards! Interested in joining? Email jana.stangler@compeer.com.

COMPEER FINANCIAL RECOGNIZED AS A TOP WORKPLACE

Compeer Financial has received special recognition as a Top Workplace by the Minneapolis-based Star Tribune and the Wisconsin State Journal.

Team members are the cornerstone of our success, and we appreciate all that our team does on a daily basis to serve our clients in agriculture and rural America. Thank you to our 1,300 incredible team members who make Compeer Financial an exceptional place to work.

SUN PRAIRIE CONSTRUCTION AND MAILING ADDRESS

Compeer Financial’s Sun Prairie, Wis., office is undergoing renovations to expand and remodel our corporate headquarters. With construction expected to last through mid-2024, our Sun Prairie team has temporarily relocated to the Madison East Business Center, just three miles from our office. Despite these temporary changes, our mailing address remains unchanged. Please continue to address all mail to 2600 Jenny Wren Trail, P.O. Box 810, Sun Prairie, WI 53590.

Reminder: ROUTING NUMBER CHANGE

A reminder that Compeer Financial’s routing number has changed to 096016972. The old routing number will no longer work after Dec. 31, 2023. Please update the routing number on your checks and automated transactions. If your checks have a different routing number, order new ones. Call (844) 426-6733 or visit a Compeer office for assistance.

Reminders:

• Use the new routing number 096016972 when ordering checks from another source.

• If your account number starts with 853, 612 or 682, drop the first three digits when ordering checks.

• Review your automated clearing house (ACH) transactions and update them with the new routing number. Compeer Financial cannot make changes to third-party ACH transactions.

• Bills like cell phone, utilities and insurance payments must use the new routing number to be processed.

• Remember to use the new routing number for future transactions and check orders.

Learn more at compeer.com/RoutingNumber

COMPEER PLEDGES TWO LANDMARK DONATIONS

Through its donor-advised fund, the Agriculture and Rural Initiative, Compeer Financial has committed $1 million each to The Hormel Institute and the University of Wisconsin-Platteville.

Our commitment to The Hormel Institute will establish the Farm to Wellness Research Fund to support research on the connections between agriculture, nutrition and disease prevention, with a focus on agricultural commodities in the Upper Midwest. Compeer invites other organizations to join them in supporting this endeavor. The commitment also establishes the Compeer Financial Research Lab at The Hormel Institute.

The $1 million pledge to the University of Wisconsin-Platteville will support the construction of the Dairy Pilot Plant and Training Center. The facility will provide opportunities for education, research and outreach in dairy processing, benefiting students, faculty, local farmers and the dairy industry as a whole. Compeer has been a long-time supporter of UW-Platteville, previously contributing to the creation of a student-run ice cream production business on campus.

FINANCING FOR

A true partner is defined by those they support. That’s why at Compeer Financial we’re defined by you — your hopes for the future as well as your needs today. If you’re looking for hunting land, bare land or other recreational property, we make the financing process easier. It’s a partnership we get personally invested in. So whether you need an experienced lender or a trusted advisor you can count on, we’re ready.

A true partner is defined by those they support. At Compeer Financial, our Food & Agribusiness team provides expertise and financial solutions across the agriculture value chain — and we’re equipped with the funding capacity to position your business for success every step of the way. Whether you process, manufacture, market, distribute, warehouse or transport agricultural products, our experienced team is here to help you address challenges and seize opportunities. And as agriculture continues to evolve, so will we, together.

2600 Jenny Wren Trail

PO Box 810

Sun Prairie, WI 53590