AgFirst, CoBank donate to hurricane relief efforts

AgFirst Farm Credit Bank, which is part of a system that supports rural communities and agriculture throughout the United States, has donated $100,000 to the American Red Cross’ hurricane relief efforts in support of those affected by Hurricane Florence. CoBank, a Denver-based Farm Credit System bank, has also pledged $100,000 for Red Cross relief efforts.

Florence slammed into the North Carolina coast a week ago, and the slow-moving storm dumped devastating amounts of water on the Carolinas throughout the weekend and into the early part of the week. The hurricane has reportedly killed at least 37 people with storms and floods raging throughout the week. Farmers have also lost millions of chickens, turkeys and hogs in the storms. The Carolinas are in the heart of AgFirst’s service territory, which includes the Southeastern and mid-Atlantic regions of the United States and Puerto Rico.

The Red Cross has thousands of volunteers on the ground now helping people affected by the storm even as threats from Florence still loom. They are providing emergency shelters, meals and other support and have pledged to help families with recovery efforts after the floodwaters recede.

“The effects of this hurricane are going to be felt for a long time in the Carolinas and beyond. We know the Red Cross will use these funds to help alleviate some of the suffering taking place now and in the difficult days ahead,” AgFirst CEO Tim Amerson said. “We stand strong with our friends and neighbors throughout this region as they navigate recovery from this disaster.”

“We deeply appreciate the efforts of the American Red Cross and other agencies to help people impacted by Hurricane Florence, including those in rural areas,” CoBank President and Chief Executive Officer Tom Halverson said. He said CoBank is committed to doing its part and urged their customers, who are located chiefly in the Western and Northeastern regions of the United States, to contribute to a matching fund to help with relief efforts.

Both banks are part of the Farm Credit System, a nationwide network of banks and retail lending associations chartered to support the borrowing needs of U.S. agriculture, rural infrastructure and rural communities.

“Together, we can make a difference for these hard-hit communities,” Amerson said.

About AgFirst

AgFirst Farm Credit Bank is one of four banks that make up the nationwide Farm Credit System. Farm Credit has supported rural communities and agriculture with reliable, consistent credit and financial services for 100 years. AgFirst is a cooperative providing funding and/or services to 20 Associations in 18 states and Puerto Rico.

About CoBank

CoBank is a $131 billion cooperative bank serving vital industries across rural America. The bank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states. The bank also provides wholesale loans and other financial services to affiliated Farm Credit associations serving more than 70,000 farmers, ranchers and other rural borrowers in 23 states around the country.