John Deere Financial
John Deere Financial (JDF) is one of the largest providers of financial services to agriculture, turf, construction, and forestry customers and supports the sale of John Deere equipment globally. The Johnston-based corporation offers retail finance solutions in 53 countries, also offers revolving payment-based solutions and crop input financing and manages a worldwide portfolio more than $40 billion.
JDF opened for business as John Deere Credit in 1986 after financing and leasing operations of 13 U.S. sales branches were consolidated. The company experienced steady growth throughout the next decade, and by 1998, rented office space in West Des Moines was deemed inadequate for future operations.
Company leaders created plans for new worldwide headquarters and selected Johnston for three primary reasons:
- Access to major interstates
- Proximity to other John Deere facilities such as Intelligent Solutions Group in Urbandale and John Deere Des Moines Works in Ankeny
- Ability to share an agricultural campus area with DuPont Pioneer (Corteva)
Construction began near the corner of NW 86th Street and NW 62nd Avenue in May 1999. As the campus grew, so did business. The revolving credit office in Madison, Wisconsin expanded and for the first time, retail financing solutions were offered in Australia, New Zealand, France, Brazil, and the United Kingdom.
In July 2000, employees began work at the new facility, and John Deere moved its equipment wholesale financing operations to Johnston.
The collapse of Lehman Brothers in September of 2008 sparked a credit crisis, and U.S. capital markets shut down. Shortly after the new year, John Deere Credit participated in the Federal Reserve Term Asset-Backed Securities Loan Facility (TALF) program, which restarted U.S. asset-backed securitization markets. The company relied on the outstanding credit quality of its receivables plus newly created funding opportunities to successfully fund all ongoing lending operations during the financial crisis.
A third building at the Johnston world headquarters was completed in 2009, and in 2010, John Deere Credit officially became John Deere Financial.
Financing operations began in Chile, China, India, Russia, and Thailand two years later. By 2014, the company’s credit portfolio had nearly doubled from 2006, reaching roughly $40 billion. JDF offered retail finance solutions in 45 countries.
Today, JDF has approximately 2,200 employees worldwide with approximately 1,000 of those employees located at its Johnston headquarters.
For questions about this article, please contact JDFCommunications@JohnDeere.com
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