FCS Financial: One Hundred Years July 2016 | Page 76

The Central Production Credit Association (CPCA) was
organized in 1986 to save many of the PCAs from insolvency. “There
were nineteen service centers combined in Missouri, Illinois and
Arkansas,” Jim Zerr explained. “They had one representative from
each service center and I was the representative from this area. We
had all the assets from all nineteen service centers in the three states.
That’s how we pooled our capital and the regulators let us do that
because we had enough capital to continue doing business.” When the
crisis passed in 1989, the CPCA was dissolved.

James E. Zerr of Williamsburg,
Missouri, was first elected a
director in November 1981. Like
all directors, he lived the double
life of board meetings and
tending his own farm.

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Selected References