CULTIVATE
Here for When the Crops and the Cows Are In
Whether you’re looking to kick back after the work is done or dive deep into year-end financials, we are here for you every step of the way. We are grateful you chose Compeer Financial as your partner this year and look forward to working together in the new year.
WISHING YOU A WONDERFUL HOLIDAY SEASON!
CULTIVATE
Volume 8, Issue 4
Winter 2024
EDITORIAL STAFF
Anna Vangsness, Editor
Nora Nolden, Contributing Writer
Chastity Valvick, Contributing Writer
Annie Lauber, 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.
Larry Fischer Sleepy Eye, Minn.
Dale Holmgren N. Mankato, Minn.
Dave Peters Manteno, Ill.
Greg Pollesch Oshkosh, Wis.
Dan Scheider Freeport, Ill.
Tracy Travis Cambridge, Wis.
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. ©2024 All rights reserved.
6 Farm to Freezer
Vandoske Dairy Farms Finds Their Niche in Diversification 8 Rustic Road Farm
A Journey of Passion, Growth and Community 10 Cultivating Holiday Joy PQT Company Ready to Help Customers Create Traditions 14 Harvesting the Future
How Agriculture Diversification Is Revolutionizing Farming and Sustainability 16 Unlock the Power of a Loan Conversion 20 Threads of Purpose
Tracy Travis’ Journey Through Agriculture, Community and Leadership
4 CEO Message
12 Board of Director Election Results 18 Online Balance Sheet Tool
22 What’s New at Compeer?
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
Navigating THE CYCLES OF AGRICULTURE
It’s a time of transition in agriculture. Transition as we wrap up another harvest season and start preparations for the next growing cycle but also a time of transition as we prepare for the natural economic cycles of farming. Agriculture experiences constant fluctuations, and with recent shifts in pricing and market conditions, having strong risk management practices in place is more important than ever.
The team at Compeer Financial is here to help our member-owners navigate these cycles. The harvest season reflects months of planning, overcoming challenges and hard work. But your operation’s true legacy is built on resilience, perseverance and dedication through years of change.
This period of uncertainty could bring opportunities for your operation even if it might not seem that way. With commodity prices shifting, many clients are exploring innovative ways to add value to their farms and maximize the potential of every acre. On page 14, learn how some Compeer clients are diversifying their operations to generate additional cash flow without expanding their scale.
Data plays a critical role in helping you make informed decisions for your operation. Whether it’s your financials, the health of your soil, crops or livestock, or insights from precision farming practices, a wealth of information is available to you. The key is to use this information to understand performance and identify where to make adjustments. Having solid partners in your corner is essential for navigating these insights and setting goals.
As a cooperative owned by you, our members, we’re committed to guiding you through opportunities as well as challenges. Beyond loans and leases, our team brings a wealth of expertise to the farm gate, with strategies and ideas to help you make modifications that position your operation for success. With deep roots in agriculture and a forward-looking approach, our team is ready to help your operation thrive through every cycle.
In this issue of Cultivate, you’ll find valuable information for your operation. On page 18, learn about our Online Balance Sheet, a tool exclusively for Compeer clients that simplifies financial management by handling balance sheet calculations for you. As interest rates continue to change, check out page 16 to explore loan conversion options that could improve cash flow by lowering interest rates without extending loan terms.
While the year may be winding down, our work is far from over. We’re already planning for the future with new opportunities, new goals and new ways to help your operation thrive. As always, we’re right here, ready to provide the guidance, solutions and partnership you need to make the most of what’s ahead. It’s an honor to partner with you, and we look forward to helping you reach your goals season after season.
Wishing you a warm and joyous holiday season,
Jase Wagner President and CEO
PATRONAGE DIRECT DEPOSIT
A convenient way to receive patronage dollars faster, without the hassle of a physical check.
We’re excited to now offer a patronage direct deposit option! This is just one more way we can help you get business done — when and how you want.
Sign up today!
You have two easy options to sign up for patronage direct deposit:
Log into your MyCompeer account and navigate to Tools & Forms.* - or -
Call our Contact Center for assistance at (844) 426-6733.
*If you don’t have a MyCompeer account, you’ll need to enroll. Scan the QR code or visit compeer.com/mycompeer to get started. If you have questions about MyCompeer enrollment, please call our Contact Center.
Important: Changes to your patronage preferences need to be done no later than one month prior to our patronage payouts (January 1 for February payout and July 1 for August payout). We cannot guarantee changes will be reflected if they’re made after these dates.
FARM to FREEZER
Vandoske Dairy Farms Finds Their Niche in Diversification
CLEVELAND, Wis. — On the county line between Sheboygan and Manitowoc counties in Wisconsin lies Vandoske Dairy Farms. Bob and Tara Vandoske, along with their children, Brianne, Reid and Brooklyn, represent the third generation of their family to run the dairy.
Established in 1945 by Bob’s grandparents, Rueben and Roma Vandoske, the herd has expanded from their start with 18 cows to a herd of 600 registered Holsteins, with 1,100 acres in operation. In addition to dairy farming, the Vandoskes run a successful dog boarding facility, a show barn and boarding business, and they recently opened Vandoske’s Countyline Creamery, a retail ice cream shop.
From humble beginnings, Bob and Tara have embraced the value of hard work.
“My dad always said, ‘Take care of the cows, and the cows take care of you, and then the more successful you’ll be,’” said Bob.
ALL IN THE FAMILY
The Vandoske children are active in the dairy, each handling their own chores. Brianne, the eldest, manages multiple roles,
primarily working with the farm’s calf program and her show heifers and helping in the creamery and kennel when needed. Reid assists with chores and milking in the show barn each morning before working with his show heifers. Brooklyn lives for spring and summer show season, diligently working with her heifers to ensure they’re in top show shape.
The family legacy is a source of pride for everyone.
“I think what we’d like to be known for is being a small dairy family that grew into something big,” said Brianne. “When the farm transitioned to my grandparents and dad, there were a small number of cows and a couple of chickens. I’ve watched my grandpa and dad build the farm into what it is today.”
The Vandoskes have been Farm Credit clients for over 15 years, relying on their relationship with Compeer Financial for guidance on business decisions.
“Working with clients like Bob and Tara is simply, easy,” said Jay Retzer, senior animal ag lending specialist at Compeer. “They’re always looking for what’s next and what will be sustainable for the farm today and for the next generation.”
DIVERSIFYING INTO DAIRY DELICACIES
The family’s expansion efforts include opening Vandoske’s Countyline Creamery in June 2024, where they serve farm-fresh ice cream, soda, milk and other dairy delicacies. Though the entire family is involved, Tara manages the shop’s daily operations.
“We hope consumers get more used to seeing what farm-to-table or, in our case, farm-to-freezer, looks like,” said Tara.
Customers can enjoy their ice cream near large windows with views of the show barn and cows, watching as the Vandoske team milks and does barn chores.
As the family developed the idea for a retail shop, building the show and boarding facility next door was a no-brainer. Preparing for dairy shows is a yearlong effort with the kids fully immersed in the spring and continue through the fall. They exhibit at regional, state and national levels, garnering many ribbons along the way. From the show ring to the milking parlor to the creamery, the Vandoskes do it all with smiles on their faces.
Clockwise from left: Brooklyn, Reid, Bob, Brianne and Tara Vandoske stand in their Cleveland, Wis. show barn; Vandoske’s Countyline Creamery opened in June 2024; Brianne Vandoske can often be found scooping ice cream cones in the creamery; A number of Vandoske’s show cows wait to be milked.
Top to bottom: Tara and Bob take a break to enjoy an ice cream cone; A variety of ice cream flavors are available at Vandoske’s Countyline Creamery; Seats in the creamery offer viewing windows into the show barn and milking parlor; Customers enjoy the sun and cones outside the creamery.
Rustic Road Farm A
JOURNEY OF PASSION, GROWTH AND COMMUNITY
ELBURN, Ill. — Nestled in Elburn, Ill., Rustic Road Farm has become a staple of the local farming community. Founded by husbands Marc and Luis Bernard in 2011, what began on a 5-acre property has expanded into an 18-acre farm focused on heritage breed livestock, heirloom vegetables and community-supported agriculture (CSA). The farm is also a leader in farm-to-table products, providing high-quality, locally sourced goods year-round.
COMMITMENT TO DIVERSIFICATION
At the heart of Rustic Road Farm is a commitment to diversification.
“We operate nine hoop houses — five of which are heated — allowing us to produce vegetables year-round,” said Marc.
In addition to growing produce, the farm raises Wagyu steers, lambs, chickens and more than 150 heritage Red Wattle pigs annually.
Marc and Luis’ journey into full-time farming was a long-held dream, with Marc focusing on the farm while Luis continues his career as a bilingual special education teacher.
“It was always the plan,” said Marc. “Luis followed his dream to teach, and my dream was to run this farm. It was a nowor-never decision.”
LEAPING INTO FULL-TIME FARMING
Transitioning to full-time farming wasn’t without challenges. Marc continued working as a chef for five years while they owned the property, and Luis earned his master’s degree.
“When the timing was right, we made the move,” Marc explained.
A key aspect of Rustic Road Farm’s success has been Marc’s culinary background. His experience as a chef helped the farm diversify into value-added products like prepared meals, soups, salads and baked goods.
“Everyone has a favorite recipe — it’s all about how you relate it to your farm,” he said. “Being certified organic or naturally grown is another value-added piece. It sets you apart.”
EXPANDING TO CLOONLARA FARM
The Bernards are set to expand Rustic Road Farm to Cloonlara Farm, a nearby 30-acre property made possible through the Conservation Fund’s Working Farms Fund. This new site will allow them to grow more crops, graze their animals and use additional outbuildings to expand the operation.
Compeer Financial is assisting the transition by writing a lease-to-own note for installing a well on the new property. Once a permanent conservation easement is secured, the Bernards plan to purchase Cloonlara Farm through Compeer, ensuring it remains a “forever farm.”
BUILDING COMMUNITY CONNECTIONS
One pillar of Rustic Road Farm’s business model is community engagement. Its CSA program serves more than 500 families every year providing an essential connection between the Bernards and their customers.
Beyond providing food, Rustic Road Farm has become a place where people connect with the land and animals. Marc and Luis have established traditions like welcoming visitors to interact with baby goats during market days.
“It’s hard not to feel good after holding a baby goat,” Marc explained, noting that these interactions often lead visitors to explore the farm’s market offerings.
Participating in local farmers markets has also been crucial to their community involvement. Luis especially values the direct feedback from their customers.
“I’m intentional about my conversations, whether it’s about which soup they like best or the difference between storebought and fresh produce,” said Luis. “Many people don’t realize the difference between something harvested and sold right away versus something picked early and ripened in a box.”
Luis enjoys helping customers make the most of their farm-fresh produce, often suggesting simple recipes.
“People are surprised when I tell them to use just olive oil, salt and pepper,” he explained. “When the produce is fresh, it doesn’t need much.”
CONTINUOUS EVOLUTION
Ty Martin, vice president of ag lending at Compeer, has watched the farm’s evolution closely.
“Marc has never been afraid to evolve,” said Martin. “He’s constantly delivering something new and listens to people. It’s been incredible to watch the growth.”
This willingness to adapt is key to the farm’s success. Marc’s attention to customer feedback and ability to adjust his offerings have kept the farm on a path of continuous improvement.
“Every time I visit, Marc’s talking to someone and learning their thoughts,” added Karen Zelko, financial officer at Compeer. “That attention to detail has allowed them to grow in ways many might not have expected.”
As Marc and Luis continue to scale their operation, their vision remains focused on sustainability and community engagement. Their plans to certify their dairy goat operation, expand to a new farm site and grow their CSA shares are the latest steps in their ever-evolving journey.
Marc sums it up best: “It’s about being part of something bigger — connecting with people, sharing what we love and always finding ways to grow.”
Clockwise from top left: Marc and Luis Bernard nurture their vegetable crops in on of the nine hoop houses at Rustic Road Farm, ensuring a year-round supply of fresh produce; Freshly baked pies sit in the Rustic Road Farm shop, showcasing the farm’s commitment to value-added products made from their own produce; Vibrant, freshly picked tomatoes harvested from Rustic Road Farm’s fields highlight the farm’s dedication to quality heirloom vegetables; Chickens roam freely in their hen house at Rustic Road Farm, contributing to the farm’s diverse offerings of farm-fresh eggs and poultry; A colorful display of gourds and assorted vegetables fills the Rustic Road Farm shop, inviting customers to experience the bounty of the season.
Cultivating HOLIDAY JOY
PQT Company Ready to Help Customers Create Traditions
OAK GROVE, Minn. — The air is crisp, the ground is freezing and thousands of trees at Rum River Tree Farm are being prepped to go home with customers to be adorned with twinkling lights and ornaments. With the holiday season fast approaching, it’s the trees’ time to shine.
Rum River Tree Farm, located just north of the Twin Cities in Oak Grove, Minn., is owned by Will Almendinger. General Manager Ryan Bartz and Almendinger are gearing up to open seven retail lots and two cut-your-own Christmas tree locations for the 2024 holiday season. But the cherished tradition of helping customers select the perfect tree is something they’ve been preparing for all year.
“Even though harvesting is seasonal, a lot goes into preparing the trees for harvest,” explained Bartz. “Trees don’t naturally grow into the nice, conical shape we associate with Christmas trees. We hand-trim each tree with a large shearing knife and then trim the new growth in the middle of the summer to maintain its symmetry.”
After employees shape the trees, they inspect them using USDA grading and standards, assigning a grade of Premium, No. 1 or No. 2. Special attention is given to pine trees, which receive a water-based color enhancement. Because the tree species
goes dormant in the fall and no longer produces chlorophyll, its needles lose their vibrant green color. Without the added pigment, the needles would turn yellow.
“By August, our staff will have gone out and tagged trees, selecting the nicest ones to send to market,” explained Bartz. “We take certain steps with each species, but in general, after we cut down the trees, we shake them out, run them through a baler and transport them to our distribution center before they head to customers.”
PQT Company, the parent company of Rum River Tree Farm, operates over 1,200 acres of balsam, Fraser fir, Scotch and white pine, as well as exotic trees like Canaan fir, Korean fir, Meyer’s spruce and fir crosses. The company has grown significantly since 1964, when Almendinger, looking for a way to finance his college education, opened his first Christmas tree lot in a Minneapolis suburb. The inaugural lot sold wild balsam, Norway pine and cultured Scotch pine trees he cut from his family’s property near Red Lake in northern Minnesota.
Almendinger expanded his operation over the years, going into business with his brother, Russ, and their brother-in-law, Charlie Edling. The partners initially named their operation Premium
Quality Trees, but the name changed one bitterly cold December night in 1973 when a customer’s pen froze, and all she could write on her check was “PQT Company.”
“At our peak, we had 21 retail lots,” recalled Almendinger, now the operation’s sole owner. “It gave us the cash flow to buy more land through Farm Credit and Compeer Financial. I don’t think we ever planned to get this big, but we just kept growing, and it happened.”
PQT Company employs 30 full-time workers, but that number jumps to nearly 100 during the peak harvest and shipping season. Not wanting to lose valuable employees, Almendinger looked for a way to diversify his company and found the perfect solution.
“Christmas comes once a year, and between seasons, I had a lot of people I wanted to keep employed,” he said. “We essentially started the nursery to help maintain year-round positions for our Christmas employees.”
Compeer Loan Officer Mark Gallik recalls that PQT Company was one of the first clients he met when he started at Compeer in 1997. He’s appreciated working with Almendinger and his team ever since. Over nearly 30 years, Gallik said he’s learned a thing or two about the best time to visit his clients.
“We try to work around their busy season,” Gallik said with a laugh. “Once all their financials for harvest are done, we sit down and go through everything. We update tree counts and make sure everything is as current as possible. That way, if needs arise during the season, getting things in place is easy. They’re great to work with.”
From October to December, Bartz and Almendinger work at least 70 hours a week to ensure things run smoothly for their customers who visit one of PQT Company’s retail lots or cut-your-own tree farms. They’ll get a reprieve as the year winds down to rest before embarking on another year of farming.
“We’re always looking for more land to plant more trees,” said Almendinger. “It’s hard work, but it’s worth it.”
Clockwise from left: PQT Company General Manager Ryan Bartz confers with Compeer Loan Officer Mark Gallik; Will Almendinger, Ryan Bartz and Mark Gallik stand among one of the thousands of Christmas trees that will be available for purchase at Rum River Tree Farm; Owner Will Almendinger tends to a young tree; PQT Company tends to over 1,200 acres of trees.
BOARD OF DIRECTORS
ELECTION RESULTS: Board of Directors and Nominating Committee
We are pleased to bring you the results of the Compeer Financial Board of Directors and Nominating Committee election. An independent third party tallied these outcomes on August 29, 2024.
BOARD OF DIRECTORS
Three individuals have secured seats on the Compeer Financial Board of Directors, each serving a four-year term. The newly elected directors are:
DALE HOLMGREN North Mankato, Minn. | Region
1
Dale Holmgren is a swine, corn and soybean farmer, working with his brother on their fifth-generation farm near Mankato, Minn. He serves on Compeer Financial’s Enterprise Risk and Legislative Affairs committees.
Dale graduated from the University of Minnesota with a bachelor’s degree in agricultural business administration.
Dale is involved in many organizations, including the Minnesota Pork Producers Association and Minnesota Corn Growers Association. His hobbies include reading, golfing, deer hunting and snowmobiling.
Dale was first elected in 2001 and his current term expires in 2028.
MARK CADE Westby, Wis. | Region 2
Mark Cade is a self-employed soybean, alfalfa and beef farmer in Westby, Wis. He serves on Compeer Financial’s Compensation and Governance and Corporate Giving committees. He also serves on the AgriBank District Farm Credit Council. Mark graduated from Western Technical College with degrees in farm business management and finance.
Mark is an active member with local FFA alumni and enjoys spending time with his family and farming. He and his wife, Cheryl, have one daughter and two sons who are involved on their family farm.
Mark was first elected in 2006 and his current term expires in 2028.
DAVID PETERS
Manteno, Ill. | Region 3
Dave Peters runs his family’s corn, wheat and soybean farm in Manteno, Ill. Dave serves on the Enterprise Risk and Corporate Giving committees. He is also a member of the Illinois Farm Credit Legislative Committee. He attended Kankakee Community College.
Dave is involved in his community, serving as a member of the Illinois Farm Bureau, Kankakee County Corn Growers Association, Knights of Columbus and Manteno Sportsmen’s Club. His hobbies include photography, digital content creation, reading, and electronics and computers. Dave and his wife, Janis, have two daughters and one son.
Dave was first elected in 2009 and his current term expires in 2028.
NOMINATING COMMITTEE
The Nominating Committee comprises 24 elected candidates, each serving a one-year term. These members represent three regions across Compeer’s territory.
REGION 1
Richard Alberts (I)
Rosanne Caughey (I)
David Marquardt (I)
Ronald Mohr (I)
Tami Nelson (I)
Julie Sievert (I)
Diane Stenzel (I)
Brent Ziegler (I)
REGION 2
Dorothy Anderson (I)
Marc Boettcher (I)
Mark Breunig (I)
Mackenzie Clark (I)
Steven Endres (I)
Carla Kastenschmidt (I)
Christina Meylor (I)
Brian Schaal (I)
REGION 3
Chad Bremmer (I)
Zachary Henkel (I)
Jenny Mennenga (I)
Adam Olin
Kathy Reinhardt (I)
Lynn Stoller (I)
Jacob Streitmatter (I)
Jacob Zumwalt (I)
(I) – Incumbent
LEARN MORE ABOUT SERVING ON THE BOARD
The Board of Directors, elected by member-owners, plays a crucial role in shaping Compeer’s business direction, overseeing operations and evaluating our performance.
Election Timeline
January-March 2025: Member-owners express interest in a director position
April 2025: Nominating Committee conducts in-person interviews
May 2025: Final list of candidates is released
July 2025: Annual meeting takes place
August and September 2025: Ballots mailed, collected, and results announced
September 2025: New director terms begin
Eligibility
Any Compeer Financial voting stockholder with an outstanding loan balance, who is not a team member or agent of the association, may be eligible for election to the Board. Candidates are nominated based on geographic regions.
Learn more about the election process at compeer.com/boardcandidates.
Harvesting THE FUTURE
How Agriculture Diversification Is Revolutionizing Farming and Sustainability
Agriculture diversification is transforming modern farming, offering a sustainable, resilient approach to market volatility and rising land values.
By integrating various crops, livestock and innovative farming techniques, farmers are securing their operations against economic uncertainties, said Paul Dietmann, senior lending specialist at Compeer.
Dietmann defines diversification as engaging in production or marketing practices beyond traditional commodity production. Working primarily with Compeer’s emerging markets clients, he has noticed a trend in why some farmers choose to diversify.
DIVERSIFICATION TRENDS
“A lot of the farmers who we work with in the emerging markets program are firstgeneration farmers,” explained Dietmann. “They didn’t grow up on a farm, don’t have a farming background or don’t have a family farm to return to after school. Others are late in their career or retired from another profession and decided to farm as a second occupation.”
Beyond first-generation farmers, Compeer is seeing more multigenerational farmers diversify, with the third or fourth generation returning to the farm and seeking ways to generate enough cash flow to support themselves.
Historically, farmers expanded their operations by acquiring more land or building new barns and adding livestock. However, with higher land values and increased construction costs, diversification among enterprises has become more popular.
PAUL DIETMANN Senior Lending Specialist
“At Compeer, we’ve noticed clients are direct marketing their beef to consumers or converting part of their farm to organic,” said Dietmann. “They’re finding ways to generate more cash flow without necessarily expanding the scale of their operation. Diversification is about expanding the scope instead.”
PERKS OF DIVERSIFICATION
The biggest benefit of diversification, Dietmann said, is that farmers become price makers rather than price takers. By moving away from commodity production, they can exert more control over their prices.
In addition to direct marketing, farmers benefit from using regenerative or sustainable practices. Dietmann noted that utilizing cover crops for vegetable operations or managing grazing for grassfed beef, pork or lamb helps prevent soil loss and sequesters carbon.
“In emerging markets, our producers often operate on relatively small acreages,”
he said. “That means more people are investing in the community. Our producers are known to share equipment and buy locally. Diversification has enabled them to open value-added businesses, like meat or cheese processors, which depend on small producers following practices that consumers are interested in.”
RECOMMENDED NEXT STEPS
For those interested in diversifying, Dietmann recommends starting with a focused idea and developing a business plan using Compeer’s online template, which can be found at compeer.com/ resources/business-plan-resources. A business plan helps clients clarify what they want to do, how they will market their products and whether they need a loan.
A comprehensive cash-flow projection is critical in the process, Dietmann emphasized.
“This helps producers understand when cash is coming in and going out, and how much will be left at the end of each month.”
Dietmann said one of his greatest joys is helping clients realize their dream, whether they grew up on a farm or feel called to farming. Now, more than ever, there are options for those in small-scale agriculture roles.
“With the way things have evolved in society and work-life balance, farming is becoming a viable option for many,” he said. “When diversifying, my advice is to do some soul searching and think carefully about what you want to achieve.”
Optimize Your Finances UNLOCK THE POWER OF A LOAN CONVERSION
Timing is everything, especially when it comes to managing finances. Knowing when to convert a loan to a lower interest rate can unlock savings, optimizing a farm or family’s financial health and ensuring a prosperous future.
Converting an existing Compeer Financial loan can help reduce interest rates, lower payments, improve cash flow and achieve long-term success. But understanding when it might be the right time to convert is an important step in the process, according to Joe Springer, managing director of ag lending and insurance at Compeer.
Most Compeer loans are eligible for an interest rate conversion 12 months after the most recent rate lock date. For a nominal administrative cost, clients can convert their interest rate without affecting the original loan terms.
“It’s important to note that converting your loan does not extend the term,” said Springer. “The only thing changing with your loan is the interest rate and, possibly, the payment.”
A reduction in their loan’s interest rate tends to motivate clients looking to convert, and current market trends suggest conversion opportunities will likely increase over the next 18 months. Several factors, including the Federal Reserve and the bond market, determine interest rates.
“There’s a misnomer that people think the Fed determines all rates, but they control only the federal fund rate or the short end of the yield curve,” explained Springer. “Given dynamics in the market and the shape of the yield curve, sometimes the longer-term rates don’t always follow in lockstep with what the Fed is doing.”
Depending on the loan size, clients can save thousands of dollars by converting to a lower interest rate. Compeer’s financial officers actively monitor rates and reach out to clients if they can potentially save money by converting.
“Every client’s situation is unique, so we work with each of them to ensure they will be as successful as possible,” said Springer. “It’s not one size fits all. Loan conversions are one way we add value to our client relationships.”
Ultimately, deciding when to make a change is personal, and Springer encourages clients to work with their financial officer to understand their options.
“As a cooperative, we want our member-owners to be successful,” said Springer. “The culture we have at Compeer is focused on taking care of our clients. That’s the crux of it. Our goal is to ensure our clients achieve success and that we keep them front and center in everything we do.”
“Every client’s situation is unique, so we work with each of them to ensure they will be as successful as possible.”
— Joe Springer, Managing Director of Ag Lending and Insurance
Converting a Consumer Home or Land Loan
Clients with a mortgage loan through Compeer Home, Compeer Financial’s consumer lending division, may benefit from converting their home or land loan. Like rates on agricultural loans, home and land consumer mortgage loans are expected to trend lower over the next 18 months, providing borrowers the opportunity to save money via a lower interest rate.
“On the Compeer Home side, rates have peaked, then plateaued and are now on their way down,” explained Chad McGlothlen, director of lending for Compeer Home. “We’ve started to see many more opportunities for clients to exercise the conversion option.”
For a nominal administrative fee, converting a Compeer Home mortgage loan can lower the interest rate, potentially saving homeowners hundreds of dollars per month, depending on their loan size.
“Some people are saving a half percent or more by converting,” said McGlothlen. “Our team consistently monitors client opportunities to convert, which is a huge value add for our Compeer Home clients and the cooperative.”
ONLINE BALANCE SHEET TOOL Streamlines Financial Management
In today’s fast-paced financial world, efficiency and accuracy are paramount. Compeer Financial created an Online Balance Sheet tool to simplify and enhance clients’ financial management experiences, delivering convenience and precision to help them stay on top of their financial goals.
EFFORTLESS INTEGRATION AND EASY-TO-USE FEATURES
The Online Balance Sheet tool is seamlessly integrated within the MyCompeer client portal, providing quick and easy access to financial information in one place. Whether accessed from computer or tablet, the balance sheet works well on a variety of devices, while ensuring convenience and security.
The Online Balance Sheet tool offers a user-friendly interface for managing assets and liabilities by doing all of the calculations. Entering numbers will provide instant results and ratios that can help the user make better-informed decisions for their operation. Plus, submitting balance sheets directly to Compeer is just a click away, making it easy to keep financial records in order and save time. Learn more at compeer.com/online-balance-sheet
“The Online Balance Sheet is easy to access and always available so clients can work on it when it’s convenient,” said Dustin Wright, financial officer for Compeer. “My clients are busy, so if there’s a way that I can save them time and make filling out paperwork a little easier, I’m all for it.”
BOOST YOUR EFFICIENCY AND FLEXIBILITY
Efficiency is key when managing finances. The Online Balance Sheet tool lets the user save their progress and pick up where they left off, eliminating worries about losing information. This flexibility helps manage financial records effortlessly, reducing the chance of errors. The tool’s interactive nature enhances the user experience by minimizing the manual work involved in traditional balance sheet methods.
The balance sheet tool also provides real-time feedback, making asset and liability management intuitive and interactive. It has the capability of granting third party access to financial data, making collaboration with accountants or financial advisors more streamlined.
“Compeer is pleased to offer a platform
ALIGN YOUR FINANCIAL GOALS
Compeer’s Online Balance Sheet tool helps clients stay on track with long-term financial goals. Whether applying for a loan, seeking financial advice or preparing for an annual review, submitting balance sheets directly to Compeer provides a real-time financial standing overview.
“As a credit analyst, I recommend our Online Balance Sheet to all our clients,” said Becca Smith, credit officer at Compeer. “Compeer is pleased to offer a platform that’s user-friendly and highly educational. Whether you’re just starting your farming career or have been farming for more than 50 years, this tool is an excellent resource to ensure you’re filling out your balance sheet accurately.”
OUR COMMITMENT TO YOUR SUCCESS
At Compeer, we believe managing finances should be simple and stress-free. The Online Balance Sheet tool is designed to empower clients with the tools and support they need to feel confident about their financial future.
LEARN MORE
Please visit compeer.com/event-recordings for an in-depth webinar which explores the Online Balance Sheet tool and its capability to streamline financial management.
INTRODUCING COMPEER HOME : Rural Consumer Lending Partner of Choice
Compeer Home o ers personalized financing solutions designed specifically for rural property owners. Our dedicated team combines industry expertise with a passion for guiding you toward your financial goals. With Compeer Home, you’re not just securing a loan — you’re investing in your rural dreams.
THREADS of PURPOSE
Tracy Travis’ Journey Through Agriculture, Community and Leadership
DEERFIELD, Wis. — From a young age, Tracy Travis was immersed in agriculture, growing up on her family’s farm in Wisconsin. This early exposure to the land sparked a deep-rooted passion for farming, education and community involvement. Over the years, Travis has woven these interests into a successful career that bridges agriculture, cooperative business and community service.
“I’ve always been interested in finding intersections between different aspects of my life,” Travis shared. “It’s like weaving a tapestry — bringing together diverse experiences to create something meaningful.”
ROOTED IN AGRICULTURE
After earning a degree in agronomy and life sciences communication from University of Wisconsin-Madison, Travis began her career in marketing at ABS before transitioning to the Credit Union National Association (CUNA). It was there that she embraced the cooperative business model, a philosophy that resonated with her agricultural roots and shaped her approach to business as she later earned her MBA in marketing.
Travis led the growth and development of CUNA’s products and services for nearly two decades through marketing initiatives and training programs. During this time, she and her husband, Adam, also ventured into their own family farming business, raising corn, soybeans and wheat while growing their family, which now includes three daughters: Cally, Casey and Carly.
Travis acknowledges the complexities of entering the farming industry, especially balancing off-farm work with building an agricultural operation.
“Farming requires hard work and planning,” explained Travis. “It’s not just about establishing the business — it’s about navigating economic shifts, labor and balancing farm life with family. Farming isn’t just a job; it’s a way of life.”
KEYS TO SUCCESS
For Travis and her family, success means pursuing passions and continually improving. She advocates for doing what you love and finding ways to align personal interests with professional responsibilities.
“Make every day better than yesterday,” she said.
Travis encourages those starting in agriculture to stay curious and build a strong network.
“Ask questions, explore possibilities and seek mentors across generations,” she advised. “A solid support network is invaluable as you navigate your journey.”
CHAMPIONING EDUCATION AND AGRICULTURE
In addition to her professional career, which now includes teaching marketing courses at UW-Whitewater, Travis has dedicated more than 20 years to her local school board, where she serves as president. She has championed initiatives that connect education with agriculture, including the Severson Learning Center at the Cambridge School District. What started as a small school farm has evolved into a dynamic learning center with educational opportunities for students from 4K to grade 12.
“Education has always been important to me,” Travis emphasized.
Alongside her educational contributions, Travis and her husband volunteer as youth sports coaches, and she serves on the board for the Rural Investment to Protect Our Environment, advocating for sustainable agriculture practices and influencing agricultural policy.
Following the pandemic, Travis launched her consulting company, ImpacTT Collective, which helps purpose-driven organizations articulate their missions and align them with their competitive advantage. From agriculture to health care, her clients benefit from her expertise in building purpose into business strategies.
As a board member at Compeer Financial, Travis continues to weave her vast experience into the fabric of the cooperative. Elected to the Board last fall, she serves on the Audit and Finance, and Young, Beginning and Small (YBS) committees.
With a passion for empowering women in agriculture and financial services, she brings invaluable insights from her work with credit unions and agriculture, aligning seamlessly with Compeer’s mission to support rural America and foster sustainable agriculture.
“Being part of Compeer allows me to contribute to both agriculture and financial services,” she said. “It’s a perfect intersection of my passions, and an honor to serve Compeer member-owners as one of their voices on our board.”
Travis’ journey embodies the spirit of continuous learning and community engagement. Her story is a testament to how diverse experiences can come together to create a powerful impact in agriculture and beyond. By embracing an abundance mindset, Travis has cultivated a fulfilling career that perfectly weaves together her values and goals, creating a rich tapestry.
Top: Tracy Travis explores the vibrant vegetable garden at the Severson Learning Center, where she champions agricultural education and handson learning for students; Bottom left: The Travis family farmhouse stands as a testament to a legacy of farming; Bottom right: Travis interacts with a goat at the Severson Learning Center, highlighting her commitment to connecting students with the joys of farming and animal care.
WHAT’S NEW AT COMPEER?
HOLIDAY HOURS
Compeer Financial will be closed for business in observance of the following upcoming holidays:
Thanksgiving: November 28 & 29*
Christmas Eve: December 24 (half day starting at noon)
Christmas: December 25
New Year’s Day: January 1
* For your convenience, our CONTACT CENTER will be open for calls on Friday, November 29, from 8 a.m. to 3 p.m.
To reach the Contact Center, please call (844) 426-6733.
SCHOLARSHIPS AVAILABLE FOR HIGH SCHOOL SENIORS
The Fund for Rural America, Compeer Financial’s corporate giving program, will offer 123 scholarships to students in 2025. Graduating high school seniors with an agriculture or rural background, or those planning to major in an agriculture-related field at a community college, university or technical school, are encouraged to apply for the application submission period, which opens January 1, 2025, and closes March 15, 2025. Each scholarship recipient will receive $1,500 for educational tuition expenses. All applicants will be notified of their status four to six weeks after the March 15 deadline. Students can find more information at compeer.com/scholarships.
YEAR-END REMINDERS
Here are some essential year-end reminders to keep in mind as we approach the end of 2024:
Payment Instructions
When making payments, ensure that you include all payment stubs (along with your check) for accuracy. Payments will be applied on the date and to the year in which they are received. Payments can be made at your local Compeer Financial office or through a Compeer Financial lockbox location.
Year-End Deadline
Payments received at a Compeer Financial office or lockbox location after noon on Tuesday, December 31, 2024, will be considered as payments for the year 2025.
Mail Delivery Time
Due to increased volume during this season, please allow at least two weeks for your payment to arrive by mail. Consider utilizing our digital tools to avoid potential mail delivery delays. You can also opt for an electronic funds transfer by contacting us at (844) 426-6733 or through Online Banking at (800) 705-6603.
Interest Payments
If you have funds in your account as of December 31, 2024, and you have a payment due on January 1, 2025, the interest portion of the installment will be paid in 2024, up to the available balance in your account. This ensures that you receive credit for paying interest in 2024. If you prefer not to use your Funds Held to cover the January 1, 2025, interest billing, please notify your Compeer Financial office or call us at (844) 426-6733 by Thursday, December 26, 2024.
Year-End Electronic Funds Transfers
If you use an electronic funds transfer for payment and need to cancel it, please inform us by 3 p.m. on Monday, December 30, 2024.
Online Banking Transactions
Please note the following deadlines:
• Loan payments and transfers submitted through Compeer Financial Online Banking before 4 p.m. on Monday, December 30, 2024, will be applied as directed in the online transaction.
• Standard ACH transactions submitted after 4 p.m. on Monday, December 30, 2024, will be posted to the loan on Thursday, January 2, 2025. Please call (800) 705-6603 with any questions.
SAVE THE DATE for These Upcoming Events
Mark your calendars for future opportunities to expand your knowledge, network with industry peers and connect with experts. Visit compeer.com/events to learn more and register for the following events offered by Compeer Financial.
GroundBreakers Conference
February 7-8 or February 14-15 (In-Person)
GroundBreakers is an exclusive invitation-only opportunity to expand farm business knowledge and gain valuable insights on a variety of topics that can impact operational success. The GroundBreakers Conference features engaging, informative keynote speakers and educational breakout sessions that will send attendees home with actionable insights. Plus, the connections made with peers and industry experts often become valuable resources to guide their operations into the future.
Minnesota: February 7-8 | Mayo Civic Center | Rochester, Minn. Illinois: February 14-15 | Embassy Suites by Hilton | Rockford, Ill.
Women’s Seminar
March 5 (Virtual)
Compeer Financial invites women in agriculture to join this fun and engaging virtual event. The half-day session is designed specifically for women who work or live on a farm, are farm owners or support the agriculture industry in another way. This virtual event is an opportunity to connect, learn, share stories and hear from other women in agriculture.
Women’s Retreat
March 7-8 or March 14-15 (In-Person)
Women in agriculture are more prominent than ever before, and taking time away from the farm to invest in yourself is important. The Compeer Financial Women’s Retreat provides attendees an opportunity to take a deep dive into current topics and trends in agriculture, deepen their network of women in agriculture, strengthen relationships and develop skills for both on and off the farm.
Participants leave this overnight retreat with an enhanced ability to create positive impacts for their farm, family and community.
Wisconsin: March 7-8 | The Abbey | Fontana, Wis.
Minnesota: March 14-15 | Omni Viking Lakes Hotel | Eagan, Minn.
JOHN! Congratulations,
CHIEF MISSION OFFICER
John Monson
Retiring after 18 years in the Farm Credit System
We are grateful for John’s deep commitment and dedication to serving agriculture and rural America.
Wishing you all the best on your retirement!
2600 Jenny Wren Trail PO Box 810 Sun Prairie, WI 53590
FARMING IS UNPREDICTABLE, BUT YOUR COVERAGE DOESN’T HAVE TO BE.
Maximize your farm’s protection with customized policies and data-driven crop insurance from Compeer Financial’s expert team.
• Complimentary policy review ensures your coverage aligns with your risk management strategy and bottom line
• Run scenario comparisons on 100,00 options to visualize how policy combinations could work for your farm
• Enhanced Coverage Option protects up to 95% of your planted acres and is now more affordable than ever with a 65% federal subsidy
Don’t forget: MARCH 15 is the deadline to make your crop insurance elections for spring-planted crops! Contact your insurance officer today.
compeer.com/CropInsurance | (844) 426-6733
