|DENVER (April 3, 2020) – CoBank, a cooperative bank serving agribusinesses, rural infrastructure providers and Farm Credit associations throughout the United States, today announced a series of charitable contributions totaling $1.4 million in response to the COVID-19 pandemic, with a specific focus on relief efforts in rural America.
“The COVID-19 pandemic has created unprecedented challenges for communities across the country, including rural communities that lack adequate health infrastructure,” said Kevin Riel, chair of the CoBank board of directors. “In addition, it is severely taxing nonprofit organizations and other institutions that provide a wide range of vital services to people in need, including hunger relief, education, social services, aid for veterans and other programs. Corporate philanthropy will be an important pillar of the nation’s overall response to the pandemic, and our board is committed to making resources available from CoBank in order to alleviate the wide-ranging impacts of this crisis.”
CoBank’s charitable response to COVID-19 will include the following:
“Over many years, we have found that the most impactful way for CoBank to deploy charitable funds is to do so in partnership with customers, employees and other Farm Credit institutions,” said Tom Halverson, CoBank’s president & chief executive officer. “That is the approach we are adopting with COVID-19. We urge all of our customers and associates to take advantage of our matching programs and join with CoBank in the collective effort to overcome this crisis.”
CoBank is a $145 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.
CoBank is a member 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. Headquartered outside Denver, Colorado, CoBank serves customers from regional banking centers across the U.S. and also maintains an international representative office in Singapore.