CFM is the oldest active farm mutual insurance company in the State of Missouri, and the oldest and longest running business in Lafayette County.
CFM Insurance, Inc. is the blending of Concordia Farmers Mutual and Central Mutual Insurance Company. The two companies merged on July 1, 2010, ranking CFM in the top three of the largest farm mutual insurance companies in the State of Missouri. Both companies have long histories and are very similar in size and financial strength. The Board of Directors of each company highly recommended the merger and felt it was very beneficial to the policyholders. Consolidation of the two companies brings increased capacity for business, additional expertise, the capability for advances in technology, and greater prospects for ensuring the future of the company for many years to come. CFM operates under the original charter of Concordia Farmers Mutual issued in 1869.
Central Mutual Insurance Company was organized as the Johnson County Mutual Insurance Association in 1896 by members of The Church of the Brethren. The company has grown over the years due to mergers with four farm mutual companies between 1969 and 2006.
Concordia Farmers Mutual was organized in 1869 as the Aid Association. In that year, only a few years after the end of the Civil War, a group of farmers in the Concordia community set out to combine the strength of individuals for protection against fire, the dread enemy of all people.
The Board of Directors were the only employees and they served with little or no pay. They carried out all of the service work for the membership. Whenever a loss occurred, the Directors either walked or rode horseback to the members, made collections, and then paid the individual that had sustained the loss. During the first 61 years of existence, no policies were given to members and there was no evidence of insurance, other than notations made by the Directors. At that time, a man’s word was the best guarantee any individual could have. It was also necessary to speak the German language to become a member of the company. This restriction remained until 1917.
In the late 1920’s, the company began collecting premiums in advance. A few years later, the company was incorporated under the name of Freedom Farmers Fire Benevolent Association, policies were issued, more business-like records and practices were adopted, and there was a Secretary-Manager employed to manage the Company. Very soon after, the name was again revised to Freedom Farmers Insurance Company. In 1938, the name was changed to Concordia Farmers Mutual Insurance Company.
In 1969, the Company celebrated its 100th Anniversary and moved into a new Home Office, constructed to coincide with the anniversary. The 125th Anniversary was observed in 1994 with a celebration in Central Park.
Policyholders voted to change the name of the company to CFM Insurance, Inc. at the 140th Annual Meeting held on March 16, 2010. The membership also unanimously approved the consolidation with Central Mutual Insurance Company of Warrensburg, Missouri. The goal of the consolidation is to ensure the perpetuation of the company for another 140 years.