In the News

In late 2016, President Richard Weathered, Western AgCredit’s CEO since 1993, will retire after a 35 year career with Farm Credit.

Joining the Farm Credit System in the Northwest in 1981, Richard worked for several associations before coming to Utah in 1992 to fill the role of Chief Credit Officer at Farm Credit Services of Utah, which later became Western AgCredit.

Richard joined the Association during a difficult time. The recession, low commodity prices and high interest rates in the 1980s undermined the foundation of the Association. Under his leadership, the Association has overcome those challenges and grown into the premier ag-lender in the Intermountain West.

He was instrumental in the consolidation of Utah Production Credit Association and Utah Federal Land Bank into the single merged entity of Western AgCredit, ACA.

Richard’s commitment to agriculture is evident in his advocacy on behalf of the agriculture community, sacrificing time and resources to fight issues impacting producers. He is also extremely committed to customers, making sure that concessions are made when commodities are depressed and helping to structure a robust patronage program all in an effort to help producers be successful.

A visionary leader, Richard has been instrumental in Western AgCredit staying at the forefront of best business practices including system innovations, risk management and a commitment to corporate citizenship.

During his tenure, the Association has gone from being nearly insolvent to over $139 million in permanent capita and the loan volume has grown 339%! In addition to growth, there has also been a strong increase in credit quality, and Western AgCredit now has both strong credit quality and high ratings from its regulator.

The CEO succession process is already underway. In late 2014, the Board of Directors retained a consultant to assist with the hiring process. In early 2015, internal candidates were identified and have been working on professional development to prepare themselves for the role of CEO.

During the May-June time frame of this year, the position will open up to internal and external candidates. After outside candidates are identified, the Board of Directors will interview internal and external candidates.

A new President and CEO will be named by the Board of Directors by early fall. After a transition of a few months, Richard will then officially retire.

The Association website will be updated as more information becomes available on the hiring process.