Dear Customer Owners,
As we welcome the official summer months with open arms, I wish each of you a safe and successful growing season this year. I also want to thank every member for participating in the 2024 Board of Directors Election. Your participation and votes highlight the cooperative spirit of our organization and emphasize the vital and influential role you play in shaping our future.
2024 Director Election Results
I am delighted to announce our 2024 Election Results! Please help me congratulate the following elected shareholders:
Directors:
Incumbent Director – Cole James, Rush CO
Barten Mulch, Burlington CO
Logan Feldhousen, Burlington CO
Nominating Committee:
Robert Harlow, Limon CO
Kane Cody, Burlington CO
Tyler Mitchell, Monte Vista CO
Wendy Rusk, Westcliffe, CO
Douglas Melcher, Holly CO
Technology Update
It has been a while since I provided an update on our Project Evolution. To refresh your memory, Project Evolution is our name for the complete transformation of our front-end loan origination platform and the conversion of all our back-end loan accounting and general ledger software. To accomplish this in the next two years, we are investing significant resources in both financial investment and manpower. Once complete, we will drive our technology and no longer rely on the third-party provider we have used for over 20 years.
The project is moving along very well. While there are always bumps in the road in projects involving software of this scale, I am pleasantly surprised at our success thus far. We have asked several team members to work on the project exclusively while others pick up the slack to be sure we continue to serve our customer-owners. The team here at FCSC is committed to completing these projects and providing our service to our mission and members. I have never worked with a more resilient and passionate team in my career, and I am proud to be a part of what we are doing here at Farm Credit of Southern Colorado.
Our current timeline is to convert our loan origination platform (the software where we spread financial statements, trend performance, make loan decisions, etc.) to the nCino software by late September or early October of this year. For this phase of the project, some of our team is already working on parallel work in our old and new software and will begin more in-depth testing next month with users.
While we have been working on this loan origination software phase in 2024, we have also been heavily involved in the work to convert to Fiserv for our loan accounting, general ledger, and online and mobile banking.
That project is scheduled to go live by the third quarter of 2025, but we are already working on it. This currently involves mapping all of our data to the new platform. That work is progressing, and I am again grateful to our talented team working on these initiatives.
Our ultimate goal with all of this work will be to offer you a new and improved owner experience. One that can meet the needs of our growing and technology-savvy borrowers while also serving those who value the in-person consultation and relationship-heavy reputation we have built with you over generations.
CCA Annual Convention
We are thrilled to invite you to this year’s 157th Colorado Cattlemen’s Association Annual Convention, June 24-26, 2024, at the Colorado Springs Marriott (5580 Tech Center Drive, Colorado Springs, CO 80919). Visit our booth to see how Farm Credit of Southern Colorado continues to support our agricultural community. This local convention is a fantastic chance to share knowledge, exchange ideas, and strengthen the bonds that help our cooperative thrive.
This is a quick reminder that all FCSC offices will be closed on Wednesday, June 19th, in observance of the Juneteenth holiday.
Sincerely,
Farm Credit of Southern Colorado CEO
Jeremy Anderson
