Farm Credit Services of Mid-America conducts its business by following high standards of honesty, integrity, impartiality, loyalty and care consistent with applicable laws and regulations. Our practices include a Statement of Director Independence, a Code of Ethics, both detailed below.
Farm Credit Services of Mid-America also has an Independent Audit Committee that reports for the Board of Directors.
Statement of Director Independence
The Farm Credit Services of Mid-America, ACA, Farm Credit Services of Mid-America, FLCA and Farm Credit Services of Mid-America, PCA (hereinafter collectively referred to as “Association”) joint Board of Directors believes that all directors should be free of any relationship that would interfere with their exercise of independent judgment.
This Board also believes, based upon the following, that all current board members are now independent. The Association has both stockholder elected directors and appointed director(s). As a cooperative, elected directors are nominated and elected by stockholders of the Association. Elected directors are not officers or employees of the Association or directors, officers or employees of any other Farm Credit System institution.
Appointed directors are not stockholders or borrowers of the Association or directors, officers, employees, stockholders or borrowers of any other Farm Credit System institution. Each stockholder elected director has a loan relationship with the Association. Director loans are on the same terms and conditions as loans to other stockholders/borrowers of the Association. No director loan with the Association is of such an amount that it could have a material effect upon the financial condition of the Association, enable that director to exert undue influence upon the full board of directors, or enable the full board of directors to exert undue influence upon that director.
The Farm Credit Services of Mid-America Code of Ethics
Farm Credit Services of Mid-America, ACA, Farm Credit Services of Mid-America, FLCA, Farm Credit Services of Mid-America, PCA (hereinafter collectively referred to as the “Association”) and its directors, officers and employees have committed to conduct business in accordance with the highest ethical standards as set forth in the Association’s Standards of Conduct Policy.
The Conduct Policy is applicable to the directors, officers and employees relating to ethical conduct, conflicts of interest, and compliance with the law. This Code of Ethics applies to all Association directors, officers, senior financial professionals and internal auditors. The Association is responsible for the preparation and distribution of its financial statements and related disclosures and for providing relevant information that is true, accurate and
complete to AgriBank for use in preparing the District financial statements and related disclosures.
The Association expects all of its directors and employees to act in accordance with the highest standards of personal and professional integrity in all aspects of their activities, to comply with all applicable laws, rules and regulations, to deter wrongdoing and abide by its Standards of Conduct Policy and other policies and procedures adopted by the Association that govern the conduct of its directors and employees.
This Code of Ethics is intended to supplement the Association’s Standards of Conduct Policy.
You agree to:
- Engage in and promote honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships.
- Avoid conflicts of interest and disclose to the General Counsel, Chief Executive Officer or Audit Committee any material transaction or relationship that reasonably could be expected to give rise to a conflict.
- Take all reasonable measures to protect the confidentiality of non-public information about the Association and its customers obtained or created in connection with its activities and to prevent the unauthorized use and/or disclosure of this information.
- Ensure full, fair, accurate, timely and understandable disclosure in the Association financial statements and related financial reports or communications as well as the Association reports and documents filed with, or submitted to, AgriBank and the Farm Credit Administration.
- Comply with applicable governmental laws, rules and regulations, as well as the rules and regulations of self-regulatory agreements to which the Association is a party.
- Promptly report any possible or actual violation of this Code of Ethics to the General Counsel, Chief Executive Officer or Audit Committee. You are prohibited from directly or indirectly taking any action to fraudulently influence, coerce, manipulate or mislead the Association’s independent public accountant for the purpose of rendering the financial statements misleading.
You understand that you will be held accountable for adherence to the Code of Ethics. Your failure to observe the terms of this Code of Ethics may result in disciplinary action, up to and including resignation from the board of directors or termination of employment. Violations of the Code of Ethics may also constitute violations of law and may result in civil and criminal penalties for you, your supervisors or the Association.
If you have any questions regarding the best course of action in a particular situation, you should promptly contact the General Counsel, Chief Executive Officer or Audit Committee. Any individual contacting the General Counsel, Chief Executive Officer or Audit Committee may remain anonymous when reporting any possible violation of this Code of Ethics.
