GOVERNANCE OPPORTUNITIES

Customer elections are held annually for members of our Board of Directors and Nominating Committee.
Recommendation Form

About Our Elections

Directors serve staggered terms, with elections occurring annually. Nominating Committee members are elected to a one-year term annually. Nominating Committee meetings will be held in March 2023 to review candidate submissions for May 2023 elections.  


Submissions:

To submit a candidate profile for consideration by the current Nominating Committee, complete the online form below or mail the filled out form to: 

Alabama Farm Credit Internal Audit, 

Annie Harris
 P.O. Box 639 Cullman, AL 35056-0639 

Candidate profile submission deadline:
March 5th, 2023  

For eligibility or election process questions, contact us at [email protected]

 

Recommendation Form

 

 


Frequently Asked Questions

We’ve curated the top questions we’re asked most often. If you are unsure about our services, how a cooperative works or other details, you may find the answer you’re looking for right here.

Nominating Committee members are compensated for their time and travel expenses incurred for meeting attendance.

Nominating committee members are elected to a one-year term. There are generally three meetings per year: 

  • In-person meeting to review nominating committee role and expectations for the sourcing and selection of Board of Director candidates
  • In-person meeting to consider candidates for the Board of Directors and the next year's Nominating Committee

Nominating committee members must:

  • Be a own or jointly own voting stock of the Association
  • Have an outstanding loan balance with the Association
  • Not be a Director, employee or agent of the Association
  • Not be a candidate for the Board of Directors while serving on the Nominating Committee
  • Reside, or have headquarters, within the Association's chartered (Blount, Calhoun, Cherokee, Clay, Cleburne, Colbert, Cullman, DeKalb, Etowah, Fayette, Franklin, Jackson, Jefferson, Lamar, Lauderdale, Lawrence, Limestone, Madison, Marion, Marshall, Morgan, Randolph, Shelby, St. Clair, Talladega, Walker and Winston in the state of Alabama)

The Nominating Committee's role is to identify, evaluate and nominate a qualified slate of candidates for stockholder election to the Association's Nominating Committee. 

Directors are generally elected to a three-year term, unless the election is to fill a board vacancy. An average of 20 days is required per year to attend Board, committee and planning meetings and events. Additional days may be required for Director training and development courses or conferences. Related travel time for these events varies by Director.

Directors receive a monthly retainer for meeting preparation plus a per diem for each day of official Association business and related travel and conference calls. 

Director candidate qualifications sought by the Nominating Commitee include a passion and commitment to serve the Association and System stakeholders and knowledge or experience in the following areas: 

  • Strategic and visionary thinking
  • Corporate governance
  • Financial expertise 
  • Communication
  • Technology
  • Risk management
  • Human capital management
  • Understanding the cooperative principles

Director candidates must meet the following eligibility requirements:

  • Must own or jointly own voting stock of the Association
  • Must have an outstanding loan balance with the Association
  • Must maintain loan(s) in compliance with the Association's policies and standards
  • Must reside, or have headquarters, within the Association's chartered territories (Blount, Calhoun, Cherokee, Clay, Cleburne, Colbert, Cullman, Dakalb, Etowah, Fayette, Franklin, Jackson, Jefferson, Lamar, Lauderdale, Lawrence, Limestone, Madison, Marion, Marshall, Morgan, Randolph, Shelby, St. Clair, Talladega, Walker and Winston in the same state of Alabama)
  • May not have restructured indebtedness with a System institution at any time
  • May not have been an employee of a System institution within one year of election


Upon election, Directors may not: 

  • Be convicted of any felony
  • Be held liable for any damages in fraud
  • Be convicted of a criminal offense involving dishonesty or breach of trust
  • File for bankruptcy

The Board of Directors is responsible for the safe and sound operation of the Association, and for ensuring the Association fulfills its public mission. Directors are accountable to customer-stockholders and Farm Credit System Investors for:

  • Overseeing the strategic direction and objectives of the Association
  • Understanding the Association's operations
  • Providing for competent Association leadership and management
  • Establishing systems and processes that provide safe and sound operations
  • Ensuring the information and disclosures provided to customer-stockholders and System investors are accurate and reliable.
  • Diligently and impartially performing their duties as Directors
  • Excercising independent judgement
  • Remaining loyal to the Association's interests