Agricultural News
Oklahoma AgCredit's Butch McComas Says Merger Better Serves Members
Fri, 01 Apr 2016 16:12:09 CDT
Now a few months into its merger, Oklahoma AgCredit is hitting its stride as the state's largest Farm Credit Association, according to the organization's CEO Butch McComas.
Formerly two separate organizations - Farm Credit of East Central Oklahoma and Chisholm Trail Farm Credit, Oklahoma AgCredit serves agricultural producers and rural landowners with combined assets of more than $1 billion and a portfolio in excess of 5,400 loans.
"We formed a very strong financial organization," McComas said.
Because the two former agricultural financial cooperatives had several common territories, McComas said joining the organizations has made it easier to provide loans and leases for rural Oklahomans.
"It just made sense to merge the two so we could combine our strengths and combine our employees to better serve agriculture in the eastern 60 counties of Oklahoma," he said.
Looking ahead, McComas said Oklahoma AgCredit is positioned to weather financial stress caused by weakening grain price, downturns in the cattle market and softening real estate values.
"Over the last 10 years, agriculture has been very profitable," he said. "Our borrowers are financially strong and will be able to get through this storm quite easily."
Ron Hays caught up with Butch McComas at Ag Day at the Capitol on March 30. Click below to listen to the complete interview.
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