Compeer Financial is a member-owned, FarmCredit cooperative serving and supporting agriculture and rural communities. They provide loans, leases, risk management and other financial services throughout 144 counties in Illinois, Minnesota and Wisconsin. Based in the upper Midwest, Compeer Financial exists to champion the hopes and dreams of rural America.

A Better Way to Share Sales Data Across Departments

Compeer Financial is determined to be on the leading edge of digital transformation. "The market is changing all around us,” says Adam Schmidt, regional appraisal manager at Compeer. “We don't want to be the taxi company of the lending industry." It is this drive to be the market leader that compelled Compeer to reach out to FarmlandFinder. "We were looking for a partner in the technology space to help with a mapping and data platform, which sparked the idea to reach out and have a conversation."

 

Problems before FarmlandFinder

●      Appraisal data siloed in its own database

●      No standard approach to share sales data

●      Loan officers didn’t have access to sales data

●      Trends and reports were difficult to produce

●      Time-consuming to analyze and share information

 

Results with FarmlandFinder

●      Loan officers have access to sales data at their fingertips

●      Standardized data sharing without spreadsheets, emails or phone calls

●      Increased degree of data-driven knowledge accessible to all team members

●      Instant and professional market reports to share with farmer clients

●      Less time spent creating reports and increased response times


A Modern Solution

"We wanted a modern delivery mechanism to share our land sales database information across all departments in Compeer. The idea was to leverage our information to a greater degree and use it to build knowledge within our other teams," Schmidt says. "Before FarmlandFinder, there was no standard approach. This was done on an individual and inconsistent basis. Appraisers would most often collect the data, then assemble the information in a variety of formats and email it out."

 

With FarmlandFinder as a tool, this information is accessible across the organization and updated daily. The team now has the most current and comprehensive set of land sales data available across the Compeer territory. This information is also organized in two professional reports. Team members can generate reports on-demand and easily share them with farmer clients.

Helps Ag Lenders Provide More Value

One of Compeer’s financial officers recently sent a property report to a client looking to purchase a farm. “The client loved the report. It helped him to negotiate the purchase price of the farm and Compeer to make a loan to that client.” - Mark Purfeerst, Financial Officer

 

Increases Appraiser Efficiency

“FarmlandFinder allows us to share the sales data in an easy and modern format. It makes our job easier because the data populates in the portal automatically. This way I can trust that my fellow team members have the most current information without calling me or sending me an email to ask.” – Rachel Daberkow, Certified Appraiser

 

Improves Leadership-level Support

“Preparation is one of the single biggest opportunities we have when meeting with clients or new prospects. We talk about providing value to our clients and prospects, having a tool such as Farmland Finder is no doubt an additional way to provide that value.” – Dan Crary, RVP

 

Building a Future with Digital Tools & Transactions

As the third largest Farm Credit Association in the US, Compeer spends a lot of time and energy collecting farmland sale data.Historically, they've only been able to extract value out of that data through traditional appraisals. However, the market is demanding more than traditional appraisals. “With the efficiency that technology provides, we're exploring even more ways to leverage this data to provide multi-dimensional valuations and tools across the appraisal spectrum.”

 

When asked what the future of the ag lending industry looks like, Compeer is placing a big bet on technology. "We will see a big move towards more digital tools and technology-enabled transactions. Once people get a taste of new technology and start using it, there's no going back from it.Over the last year, the pace of change has increased. It has really reaffirmed the direction we're going with adopting new technologies and working withFarmlandFinder."

"With FarmlandFinder, we have a standard approach and Compeer users can access real-time information on demand using a modern, web-based platform. This technology gives us an edge in the market and the ability to serve clients in ways that weren’t before possible."

 – Adam Schmidt, Regional Appraisal Manager at Compeer Financial


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