After over 40 years serving the agriculture community in the Farm Credit system, Tim Tracy is retiring as Chief Credit Officer of Compeer Financial.
Tracy, of Rochester, Minn., grew up on a dairy farm in South Dakota with 11 siblings. He began his career in 1977 as a loan officer with the Federal Land Bank in Omaha after graduating from Northern State University. Tracy has held many roles at Compeer and the former AgStar Financial Services, including loan officer, VP of commercial lending, VP of business solutions and senior vice president chief risk officer before becoming chief credit officer.
He said the most valuable learnings throughout his career came from clients.
“The people we work with are true entrepreneurs who are willing to take risks and make changes even in the face of adversity,” said Tracy. “I admire everything they do to run their business and take care of it.”
Tracy has seen many cycles of ups and downs in agriculture caused by a variety of factors, including the status of the economy. The 1980 recession was particularly hard on farmers and a pivotal time for agriculture. “The industry worked hard to recover,” said Tracy. “Farmers and others in agriculture have learned that we have to stay agile to navigate all the variables in the market, and that has carried through to today.”
Tracy’s career also saw the merging of three Farm Credit organizations in 2017 to form Compeer Financial.
“Three years after the formation of Compeer Financial, I feel it has been a resounding success for our clients and member-owners, and I’m proud of what we’ve accomplished here,” he said. “It’s been such a rewarding way to finish my career.”
With Tracy’s retirement effective December 28 Compeer Financial’s Chief Risk Officer, Bill Moore, will take on the role of leading the credit department, thereby combining the credit and risk management functions for the organization. Moore currently oversees Compeer Financial’s $23.7 billion portfolio, and joined the organization nearly seven years ago.
“It’s been a pleasure to work with Tim over the past several years managing Compeer’s diverse portfolio,” Moore said. “I look forward to building on the foundation established through his superb leadership so we may continue to help our member-owners and clients achieve their goals.”
Compeer Financial is a member-owned Farm Credit cooperative serving and supporting agriculture and rural communities. The $23.7 billion organization provides loans, leases, risk management and other financial services throughout 144 counties in Illinois, Minnesota and Wisconsin. Compeer Financial is the third largest cooperative of the Farm Credit System, a nationwide network of lending institutions supporting agriculture and rural communities with reliable, consistent credit and financial services.