Ideal, South Dakota
For the Vannemans, “family” and “farm” are synonymous.
More than 30 years ago, Clint Vanneman and his wife Kim returned to his childhood home to become the next generation of owners and operators of the family business. Today, they are succession planning to pass down the legacy to their son, Justin, daughter-in-law, Tasha, and daughter, Ashley, as they follow in their footsteps.
“It’s been exciting to be a part of the Vanneman’s farm tradition," Kim said. "Family is just so important and to think about transitioning to our son and daughter-in-law and also having one of our other daughters owning some livestock and being a part of it is just wonderful.”
Justin and Tasha graduated from South Dakota State University in 2015 and have been farming ever since. Their ability to transition into the family farm, as opposed to starting their own operation from scratch, mitigated some of the challenges typically faced by beginning farmers. For example, they didn’t have to purchase large, expensive farming implements or find and purchase land.
“With agriculture being such a capital intensive business, the opportunity for Justin and Tasha to work into the operation, with the help of Farm Credit Services of America, it’s a win-win for all of us involved,” Kim said.
Removing Barriers to Entry
Farm Credit understands the barriers to entry encountered by many beginning farmers, and loan officers across the country work closely with families on succession plans to ensure the successful future of the family farm. The same is true for the Vannemans. Jeff Hauck of Farm Credit Services of America said, “I’ve been the Vanneman’s financial officer for three years I’ve probably known them for ten…my goal is to help guide [Justin and Tasha] a bit, not run their operation, but guide them.”
Kim understands Farm Credit’s commitment to the future of agriculture firsthand. She serves on the board of her local association, Farm Credit Services of America, along with the Farm Credit Council Board of Directors, the FCC Services Board, the Farm Credit Foundations and the AgriBank District Farm Credit Council.
Being a leader in the Farm Credit system and working in support of the next generation of agriculture on farms across the country, Kim looks confidently towards the future of her own operation. She said, “We’re going to try our hardest to make it work and get it handed down to the fourth generation and hopefully even the fifth and sixth generation.”