PLATINUM PARTNER - Compeer Financial Services

Financing for healthcare facility revitalization in rural America. Investments are funded by Compeer Financial in collaboration with USDA, community banks and farm credit partners.  Compeer Financial is a member-owned, Farm Credit Cooperative formed when AgStar Financial Services, Badgerland and 1st Farm Credit of IL merged on 7/1/17.  Compeer exists to champion the hopes and dreams of rural America.

What Compeer Financial offers NRHA members?

  • Capital Strength
    • Compeer funds and manages nearly $8 billion in capital assets. We’re here to provide growth and opportunity for our rural communities. We have unique access to a correspondent lending program enabling further collaboration with other financial institutions to finance economic development, infrastructure needs and revitalization projects. Our capital investment strength provides us with ability to offer clients competitive long-term, fixed rates.
  • Rural Mission
    • Compeer proudly serves thousands of clients with a driving mission to enhance life in agriculture and rural America. We’re dedicated to financial leadership, expertise and innovation aimed at helping our clients achieve success. As a part of the Farm Credit System for over 100 years, Compeer knows the essential needs of its rural clients, communities and businesses. We understand what it’s like to live and work in rural areas—because we live and work there too.
  • Dedicated Team
    • Compeer continues to commit significant resources to capital investment in rural healthcare revitalization. Not only do we provide funding, but we offer trusted expertise in utilization of financing programs through USDA Rural Development. We are committed to collaboration at the federal, state and local level—working alongside your community leaders and lending institutions to develop the best financial solutions.
  • Lending Leadership
    • Compeer serves as the Lender of Record for the USDA Community Facilities program through the purchase of taxable revenue bonds issued by local communities, organizations or businesses. Our flexible investment products are tailored to meet your unique financial needs, including short-term construction financing to long-term fixed-rate financing.

What Clients Say About Compeer (formerly AgStar)...

A True Partner
“We operate a hospital, so we don’t go out and get financing to build buildings all the time. AgStar guided us from A to Z. They are 100 percent a true partner.”

Brad Anderson, Chief Financial Officer, Community Memorial Hospital

Community Memorial Hospital (CMH) in Cloquet, Minnesota wanted a flexible financing package that included long-term fixed rates to mitigate future risk, as well as providing the ability for community banks to be involved due to their strong support of the facility. AgStar developed a funding package that utilized the USDA Community Facilities Program Guarantee program, as well as their Direct Loan program to achieve the long-term fixed interest rates, and was able to include two of the hospital’s local lenders as well. Community Memorial expanded to offer all inpatient services, including medical/surgical, intensive care and obstetrics. A specialty physician clinic, education and training area, new cafeteria and kitchen, and infusion clinic were also included. Community Memorial expansion meets the healthcare needs of 30,000 community residents it serves.

Experience
“Working with the USDA and the federal bureaucracy was something none of us had experience with. AgStar helped us through what would have been a very complicated process had we taken it on ourselves. Their experience and expertise made all the difference.”


Cary Linder, Foundation Executive Director, Hutchinson Area Health Care

Hutchinson Area Health Care (HAHC) in Hutchinson, Minnesota recognized the need for a new senior living facility and increased demand for skilled care. HAHC undertook extensive research and identified a building site near the hospital campus. They bought the land and then turned to the task of finding financing. HAHC pursued traditional, tax-exempt bond financing, but with market turmoil and credit crisis looming over the nation, getting financing was very difficult—even for such a vital project. The developer brought AgStar in to talk about alternative funding solutions for Hutchinson’s Harmony River Living Center. In addition to providing skilled nursing care for short-and long-term residents, Harmony River Living Center has a new 18-unit assisted living wing for seniors with memory care needs.

Enthusiasm
“AgStar came to our board meeting very organized. They worked with us at a level we could understand. But, mainly, it was their energy and enthusiasm for visualizing the project as a reality. They showed us that it was possible, that there was money available to accomplish what we wanted to do—even on a larger scale than we could have envisioned ourselves.”

Sue Harpin, Hospital Board Member, Essentia Northern Pines Hospital

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Essentia Northern Pines Hospital in Aurora, Minnesota needed to improve or replace an off-campus, aging clinic, however the hospital’s board of directors felt trapped by their current financial commitments. AgStar Rural Capital Network worked with community hospital leaders to provide financing that made the dream of a full service medical campus a reality. The project delivered a new 13,000 square foot medical clinic attached to the existing hospital and nursing home. Improvements included renovations in the hospital, including the purchase of new crucial care equipment. Today, Essentia Northern Pines is a 16-bed critical access hospital, offering a broad range of inpatient and outpatient care—including a growing number of surgeries and an emergency room staffed 24/7.

Contact

Bob Madsen
Compeer Financial Services
Vice-President
507.344.5006
Robert.Madsen@Compeer.com
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