Bryan, TX, March 5, 2021 (GLOBE NEWSWIRE) – In the wake of recent destructive winter storms that hit the entire state of Texas, farm credit organizations across the state and nation have teamed up to support relief efforts for rural communities and residents across Lone Star State.
AgTexas Farm Credit, American AgCredit, Capital Farm Credit, Central Texas Farm Credit, Farm Credit Bank of Texas, Farm Credit Services of America, Heritage Land Bank, Legacy Ag Credit, Lone Star Ag Credit, Plains Land Bank and Texas Farm Credit make a donated a combined amount of $ 250,000 to support the Texas State Farm Relief Fund of the Texas Department of Agriculture, the Texas and Southwestern Cattle Raisers Association Disaster Relief Fund and the Cross American red.
Texas was hit hard in winter storms in February that left millions of people without electricity and water. The consequences of freezing freezing temperatures continue to impact farmers and ranchers in their efforts to restore operations. According to preliminary data from agricultural economists at Texas A&M AgriLife Extension Service, the winter storm caused at least $ 600 million in farm losses.
“The spirit of a cooperative is based on producers helping producers,” said Ben Novosad, CEO of Capital Farm Credit. “Farm Credit understands what our fellow Texans and rural communities face. Crops, livestock and livelihoods have been severely disrupted. Farmers and ranchers are resilient, but we want to make sure we are there for them when needed, as we always have been.
“The agricultural credit system was created in 1916 to be there for farmers and ranchers in good times and bad,” Novosad added. “As a cooperative, we understand the strength that comes from working together between people and organizations. “
“The STAR Fund donation from so many farm credit associations exemplifies the spirit of Texas – its Texans helping Texans,” Texas Agriculture Commissioner Sid Miller said. “On behalf of all farmers and ranchers in Texas, I want to express my deep gratitude to all of the state and out-of-state farm credit associations who have come together to help. Every Texan should walk a little higher. today when they see that kind of generosity. Thank you. “
The Texas State Farm Relief Fund (STAR) was established by the Texas Department of Agriculture to assist Texas farmers, ranchers, and agri-food business owners affected by natural disasters as they they are working on reconstruction. Likewise, the Texas and Southwestern Cattle Raisers Association (TSCRA) Disaster Relief Fund is helping turnaround efforts by Texas ranchers and their families to restore production.
“The STAR Fund and the TSCRA Disaster Relief Fund will help restore rural communities and help families who have been severely affected,” Novosad said. “Farm Credit’s mission is to support agriculture and rural communities. This is another way of doing it. ”
About AgTexas agricultural credit
AgTexas Farm Credit is a customer-owned credit union, which provides financing for agricultural operations, agribusinesses, houses and rural real estate as well as insurance and leasing services for the agricultural industry. since 1934. Based in Lubbock, AgTexas has approximately 3,000 members in 43 Texas counties across 12 offices. AgTexas is part of the Farm Credit System, a network of financial cooperatives established in 1916 to provide a reliable source of credit to farmers and rural America. Learn more about www.agtexas.com.
About American AgCredit
Founded in 1916, American AgCredit specializes in providing financial services to agricultural and rural clients in California, Colorado, Hawaii, New Mexico, Nevada, Kansas and Oklahoma, as well as capital markets clients in all 50 states. American AgCredit serves customers through 34 branches located in the Western and Midwestern states, headquartered in Santa Rosa, California. Learn more about www.agloan.com.
About Capital Financement agricole
For more than 100 years, Capital Farm Credit has supported rural communities and agriculture with reliable and consistent financial and credit services. Capital Farm Credit is a proud member of the farm credit system and serves over 21,500 members, with outstanding loans totaling over $ 8 billion. Headquartered in Bryan, Texas, Capital Farm Credit has offices serving 192 of Texas’ 254 counties. Learn more about www.capitalfarmcredit.com.
About Central Texas Farm Credit
Central Texas Farm Credit is a member of the National Farm Credit System, financing farmland and ranches, agri-food operations, rural land and homes, and recreational properties in its 20-county region. Based in Early, the cooperative has branches in Brady, Coleman, Comanche, Haskell, San Angelo and San Saba. Learn more about www.centraltexasfarmcredit.com.
About the Texas Farm Credit Bank
Farm Credit Bank of Texas is a wholesale bank owned by a cooperative that finances agriculture and rural America. It finances rural credit unions so that they can provide loans to farmers, ranchers, agribusinesses and rural landowners. The bank is part of the agricultural credit system, the oldest and most important source of rural finance in the country.
About Farm Credit Services of America
Farm Credit Services of America is a customer-owned financial cooperative, proud to finance the growth of rural America, including the special needs of young producers and beginning producers. With nearly $ 33 billion in assets and $ 6.3 billion in member assets, FCSAmerica is one of the region’s leading providers of credit and insurance services to farmers, ranchers, agro-industries. and rural residents of Iowa, Nebraska, South Dakota, and Wyoming. Learn more about www.fcsamerica.com.
About Heritage Land Bank
Heritage Land Bank offers innovative financing solutions that other banks simply cannot offer in rural real estate, farming, agribusiness and country houses. Founded in 1917, Heritage Land Bank is a member of the Farm Credit System, a national network of rural credit unions. With its head office in Tyler, Heritage Land Bank operates in 16 Texas counties stretching from Dallas-Fort Worth to Lufkin. To learn more, visit Heritagelandbank.com.
About Legacy Ag Credit
Legacy Ag Credit is an agricultural credit union that finances rural land, agricultural production, country homes, and agribusinesses in the northeast region of Texas with offices in Sulfur Springs, Canton, Gilmer, Longview and Terrell. Part of the Farm Credit System, a nationwide network of cooperative banks and credit associations, Legacy has been a trusted source of rural credit for over 100 years. Learn more about www.legacyaca.com
About Lone Star Ag Credit
With approximately $ 2 billion in assets, Lone Star Ag Credit finances rural land, country homes, agribusinesses, livestock, farm equipment, and operating expenses. The Fort Worth-headquartered rural lender serves approximately 5,000 client-owners in 48 counties and has credit bureaus in Abilene, Cleburne, Corsicana, Denton, Fort Worth, Georgetown, Hillsboro, Lampasas, Mount Pleasant, New Boston, Paris, Sherman, Stephenville, Sweetwater, Waco and Weatherford. For more information contact a local Lone Star Ag Credit office or visit LoneStarAgCredit.com.
About Plains Land Bank
The Plains Land Bank provides long-term financing to agricultural producers and rural landowners. Our main priority is to improve the means and well-being of farmers, ranchers and rural life in the Texas Panhandle. As part of the national agricultural credit system, the Amarillo-based credit union has branches in Amarillo, Pampa, Perryton and Plainview. Learn more about www.plainslandbank.com.
About Texas Farm Credit
Texas Farm Credit (TFC) is an agricultural credit union that offers competitive rates, flexible terms and personalized service to farmers, ranchers, rural residents and agribusinesses from the Red River to the Rio Grande Valley. Not only does TFC finance a wide range of farming and ranching operations, but it also offers mortgage loans for residential and rural real estate, as well as a variety of insurance services to its members. Based in Robstown, Texas, TFC serves 100 Texas counties and is part of the Agricultural credit System, a national network of rural credit unions established in 1916.