Agricultural cooperatives announce support for victims of December tornadoes
LOUISVILLE, Ky., December 21, 2021 / PRNewswire / – Several of the nation’s leading agricultural co-ops are rallying to support customers, families, team members and communities affected by devastating tornadoes and inclement weather that swept across the southern and midwestern December 11.
AgFirst, CoBank, Farm Credit East, Farm Credit Illinois, Farm Credit Mid-America, Farm Credit Services of America, Farm Credit of West ArkansasLand O’Lakes, Inc. and Rural 1stÂ® have committed nearly $ 700,000 to national, state and local charities to help families and communities affected by these catastrophic events.
“The impact of this disaster is severe and is being felt at national, state and local levels,” said Derrick WagonerRegional President, CoBank. âCoBank and our partners have responded with a package of contributions benefiting a wide range of relief efforts. We hope our donations will help alleviate some of the most immediate suffering and support long-term recovery efforts. “
Recipients include the American Red Cross, Feeding America, Kentucky Agriculture Relief Fund, Kentucky Rural Electric Disaster Fund, Tennessee Farm Disaster Response Fund, Mayfield Tornado Relief Fund, and Rotary International in Dresden, Tennessee.
âAs a federated cooperative system, our ownership network reaches communities across the country, including those devastated by the December storms. While natural disasters like this leave behind untold suffering and challenges, recovery efforts underscore what we do best as co-ops: coming together, “mentioned Brett BrugesLand O’Lakes, Inc. Executive Vice President and President, WinField United. “With cooperative partners, we are working to support our owners and their communities as they begin to rebuild what has been lost.”
The devastation from these storms spread to six states in the Midwest, leaving unprecedented damage. Residents of Kentucky and Tennessee were among the hardest hit by the weather. Co-ops continue to identify affected customers and work to understand how best to meet their immediate and long-term needs.
âWe mourn our customers and our communities who have lost so much and are working diligently to find solutions to the obstacles ahead,â said Mark Barker, senior vice president of agricultural loans for Farm Credit Mid-America in Kentucky. âAlongside their communities, we have clients who have suffered significant losses of personal and business property. While we are still learning the extent of the damage and loss, Farm Credit Mid-America and our fellow co-ops are committed to being long-term partners in helping our clients get back on their feet.
As part of their contributions, many of these cooperatives also match individual contributions made by their employees to organizations like the Red Cross and the Salvation Army. In addition, CoBank will offer a $ 100,000 matching funds for its clients who donate to tornado relief efforts. Information on the matching fund will be provided directly to CoBank customers in the coming days.
CoBank is a 155 billion dollars cooperative bank serving vital industries across rural America. The bank provides commercial loans, leases, export finance, and other financial services to agribusinesses and rural electricity, 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 75,000 farmers, ranchers and other rural borrowers in 23 states nationwide. CoBank is a member of the Farm Credit System, a nationwide network of retail banks and lending associations licensed to serve the borrowing needs of agriculture, rural infrastructure, and rural communities in the United States.
About Land O’Lakes
Land O’Lakes, Inc., one of the leading food and agri-food companies in the United States, is a member-owned cooperative with state-of-the-art operations that span the spectrum from agricultural production to consumer foods. With 2020 annual sales of $ 14 billionLand O’Lakes is one of the largest co-ops in the country, ranking 219 on the Fortune 500. Building on a heritage of over 100 years of operation, Land O’Lakes today operates some of the brands respected companies in the food and beverage industry, including Land O’Lakes Dairy Foods, Purina Animal Nutrition, WinField United and Truterra. The company operates in all 50 states and more than 60 countries. Land O’Lakes, Inc. is headquartered in Arden Hills, Minnesota.
About Farm Credit Mid-America
Farm Credit Mid-America is a financial services cooperative that has served the credit needs of farmers and rural residents across Indiana, Ohio, Kentucky and Tennessee for over a century. Supported by the strength of over $ 28.8 billion in assets, Farm Credit Mid-America provides loans for real estate, operations, equipment, housing and related services such as crop insurance and vehicle, equipment and construction leases. For more information call 1-800-444-FARM or visit www.e-farmcredit.com.
SOURCE Farm Credit Mid-America