News
Oklahoma AgCredit has big plans for 2020!
Edmond New Home
Next fall, Oklahoma AgCredit’s headquarters will move to Edmond. The new building will house executive and operations staff. It will offer training and meeting space, along with being home to Board of Directors meetings. There will be room to expand as our service and support team grows.
Several factors led to the need for a new building. The 2016 merger that formed Oklahoma AgCredit expanded our service area to 60 counties. Our team has grown to nearly 100 employees and is likely to expand further. As our portfolio has developed and continues to increase, the need for specialized positions has caused us to outgrow the Broken Arrow administrative office space.
The new headquarter office will be on Covell Road in Edmond, on the east side of I-35. This location will be easily accessible to employees, visitors, members, and affiliates.
Members’ interest rates will not increase as a result of the new office, nor will Patronage be decreased to afford the investment. Following Board approval to relocate the administrative office, we carefully budgeted for the purchase of the real property, building construction and interior furnishings. We are mindful stewards of our members’ financial partnership. The office will have quality technology with positive workplaces for staff without frivolous overspending.
Broken Arrow OfficeThe Broken Arrow lending team and capital markets department will remain in Broken Arrow in its current location on Kenosha Street. Members who do business at this office will not be impacted by the transition of the administrative office to Edmond.
More ImprovementsAlong with the new headquarter office, we are strategizing ways to become a better financing source for our members by improving processes and customer experience. Below are some top priorities for 2020:
Credit DeliveryWe want to provide faster service. It is our goal to decrease the time from loan application to disbursement by providing more efficient credit delivery and loan servicing. A new department is being formed to provide faster processing on some loans.
A workgroup has been visiting other Farm Credit associations to gather information on best practices and high performing processes. The workgroup will submit recommendations for improvements, as well as suggestions for processes that should remain unchanged.
Online BankingAn upgraded online banking experience will be available early in 2020. The new format offers more functionality in an easy-to-use interface. A mobile application will help you make remote deposits and transfers on the go, while staying informed about account balances and transactions. The new experience makes it simple to move funds within your accounts and to securely change your contact information.
New Loan ExperienceImproving customers’ experience, from loan application to closing is a priority. We will be implementing a new app that allows borrowers to complete a loan application in simple steps – on your mobile device or desktop. The app can be used to securely send information to lending and support staff. We expect the use of the app to decrease the length of time from application to closing.
Internal ProgramsOklahoma AgCredit’s management team expects staff to provide excellent customer service. We want our team to be engaged and knowledgeable so they can work hard for our members. New performance management processes, talent management approach and training programs are being developed to create a learning culture where employees are agile and motivated.
Cyber SecurityAs a lending cooperative, borrower information security and financial statement accuracy are of upmost importance. We perform regular systems testing to ensure our information is safe. Procedures are in place to make sure your funds are not fraudulently accessed. I encourage you to be diligent as well. Check out Fraud Awareness on page 10, which reviews ACH and wire fraud prevention. These methods are frequently used in place of paper checks and criminals will attempt to use them fraudulently.
We appreciate your business and consider it an honor to serve you.