The Changing Face of Yankee

by Dean W. Moreau, president and CEO, Yankee Farm Credit

Clif Rivers Retires

Clif Rivers, Yankee Farm Credit’s senior vice president and chief credit officer, will retire on December 31.

Just out of Essex High School, Clif served in the Army spending time in Central America. Once his tour of duty was complete, he returned home, married, started a family and headed to college. He graduated from the University of Vermont in 1973 with a bachelor’s degree in resource economics.

Clif began his career with South Burlington Farm Credit in August 1974 as a loan officer working out of the former South Burlington and St. Albans offices. He serviced customers in Franklin, Grand Isle, Chittenden, Lamoille and Washington counties.

Through hard work and good credit common sense, he earned a promotion in 1983 to branch manager. In 1986, he assumed responsibility for associationwide credit operations for Champlain Valley Farm Credit, ACA and retained that responsibility when Yankee Farm Credit was formed in 1995.

As chief credit officer and supervisor of financially related services for Yankee, Clif has had a positive impact on many people, both staff and customers. He has watched agriculture evolve to a high tech business in Vermont and has been a vital part of Yankee’s efforts to do our best for our customers.

Throughout his career Clif lent money the “old fashioned way.” That is, if you couldn’t pay a loan back from earnings, Clif wouldn’t lend you the money. This adherence to a simple principle saved the net worth of many farm families while protecting the association’s balance sheet.

We will miss Clif’s knowledge and good humor, and we wish Clif and his wife, Chris, a healthy and fun-filled retirement.

George Putnam Promoted

George Putnam, previously our chief financial officer, has been promoted to executive vice president/chief operating officer. George will continue to head financial operations for Yankee while also assuming Clif’s credit duties.

George has been employed by the association since 1984. He was hired by Champlain Valley Farm Credit, ACA as a loan officer, and assumed the position of controller in 1986. Prior to joining Farm Credit, George served as controller of the Richmond Cooperative Association of Richmond, Vt.

George holds a degree in agricultural engineering from the University of Maine and an MBA from the University of Chicago. In 1993, he graduated from the American Bankers Association’s Stonier Graduate School of Banking.

To prevent George from working 24 hours a day, he will share a few of his other responsibilities. That is, Pam Simek has been promoted from assistant treasurer to controller. Pam will handle all accounting functions, some financial duties and cash management. Ruchel St. Hilaire is our new personnel coordinator and will also continue to perform her administrative responsibilities. The daily supervision of financially related services will be transferred to our branch managers. These changes recognize the versatility and talents of the Yankee staff, while providing for management succession — if I ever get hit by the proverbial milk truck.

Please join me in wishing Clif all the best in his retirement, and congratulating George, Pam, Ruchel and the branch managers in their new responsibilities.

This letter appeared in the Fall 2003 issue of Financial Partner (F.P.) magazine, Yankee Farm Credit's customer publication. Click here if you would like to start receiving F.P. magazine in the mail.

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