Farm Credit to build new location

Farm Credit Southeast Missouri broke ground last week on the organization’s first new building in Poplar Bluff in more than 40 years.

The organization has outgrown its location on North Westwood Boulevard, explained Randy Caldwell, senior vice president and senior relationship officer. That building was constructed in the mid-1970s.

A new 6,600-square-foot building at Highway 67 and M Highway has been designed by Dille and Traxel Architecture.

The site is expected to be open by January or February, Caldwell said.

Farm Credit also has locations in Dexter, Jackson, Kennett, Charleston and Portageville, with a central office in Sikeston.

The company is a cooperative and owned by its customers, Caldwell said. It provides mostly agricultural loans for land, equipment and operations.

It is part of the national Farm Credit System.

Farm Credit Southeast Missouri is comprised of three organizations: Farm Credit Southeast Missouri Agricultural Credit Association is the holding company, with two subsidiaries, according to the company.

The three organizations are jointly managed and share the same group of staff members and the same nine member local board of directors, seven elected by the members (borrowers) and two board-appointed outside directors.

The elected directors are Southeast Missouri farmers and Farm Credit Southeast Missouri customers. The board-appointed outside directors, by regulation, cannot be customers of the association.

The current board of directors includes chairperson Mark Yarbro of Poplar Bluff, a rice, soybean and wheat farmer.