Elders district banker, Tony Harrison, says banking is often just a small portion of the many big issues he is talking through with customers.
Based at Elders’ Roseworthy branch, north of Adelaide, he actually spends about 90 per cent of his time at kitchen tables or out in the paddock with his expanding customer base.
“Twenty years ago Elders was probably considered more of a last resort lender, but now we’re the main source of financial support and advice for many farmers - partly because the big guys aren’t terribly interested,” he said.
“Unless you owe them more than $1 million the big banks aren’t too focused on providing much personal attention.
“And while we might not be a big banking name, our loan costs tend to work out pretty much line ball with the majors because our model doesn’t have all the fees and charges you often collect with them.
“You also develop a very close understanding of the farm business and the family.
Often you’re a sounding board for their plans, ideas or even hopes an concerns relating to the kids.
“The job is very much a business management role for each farm, but subjects like cashflow or budget planning may often only occupy 25pc of your discussion time.”
With loans worth about $100 million and about 100 customers on his books, Mr Harrison aims to lock in farm visits or similar connections every two or three months.
After a 35-year career in banking, he is not surprised Elders is looking to leverage more from its close relationships with the farm sector build its position as a bigger financial service player.
“There’s a lot of agribusiness experience at Elders and we’re working closely with a lot of trusted branch people who really understand their clients’ operations,” he said.
“It’s only natural we can combine our efforts to help their business.”
