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NORMAL, ILL. -- 1st
Farm Credit Services announced today that Executive Vice
President and Chief Credit Officer Gary Ash will become the
association’s President/CEO effective May 1, 2006.
Ash will succeed retiring
President and CEO Wayne Gustafson, who has served in the
role since the organization’s inception in 1999, and as
president of prior Farm Credit Services associations
beginning in 1979.
Ash grew up in Iroquois County, Ill. He graduated in 1978
from the University of Illinois with a degree in finance. He
began his Farm Credit career 15 days later when he joined
First Production Credit Association (PCA) headquartered in
Champaign working as a loan officer and later as a credit
analyst. In 1982 Gary joined the Farm Credit Bank of St.
Louis where he worked in the Credit and Supervision
department. His career with the Farm Credit organization
took him to Indiana’s Farm Credit Capital Corporation and
Farm Credit Services of Mid-America. Ash joined the Farm
Credit Services of Northern Illinois in 1990 as their Chief
Credit Officer. He has served as Executive Vice President
and Chief Credit Officer for 1st Farm Credit
Services since the organization’s inception in 1999.
Gustafson, employed for more
than 36 years by Farm Credit Services, joined the
Bloomington Production Credit Association (PCA) in 1969 as a
field representative. After working in a number of
positions, he was named president of the association in 1979
and continued with succeeding Farm Credit organizations for
the remainder of his career. Gustafson was raised on a farm
in Henry County, Ill. and graduated in 1967 from Western
Illinois University in agricultural economics. Following
graduation, he served for two years with the U.S. Army
before beginning his Farm Credit Services career.
1st Farm Credit
Services leads the industry in farm real estate loans, and
provides various services such as crop insurance, loan and
lease options, as well as farmland appraisals. The
farmer-owned cooperative holds $1.9 billion in total loan
volume and serves 42 counties in northern Illinois through
its 21 local offices.
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