Release date: 12/15/2016
The Farm Credit Associations of North Carolina announce a donation of $110,000 for flood relief in North Carolina.
[Raleigh, NC] The Farm Credit Associations of North Carolina announce a donation of $110,000 for flood relief in North Carolina.
The donation is the sum of monetary gifts from each of the three Farm Credit Associations of NC including $50,000 from Cape Fear Farm Credit, with headquarters in Fayetteville, $25,000 from AgCarolina Farm Credit, with headquarters in Raleigh, and $25,000 from Carolina Farm Credit, with headquarters in Statesville. Additionally, Farm Credit partner, CoBank, will donate $10,000 towards North Carolina flood relief. This commitment of funds will be split evenly between the NC Baptists Disaster Relief Mission and the Salvation Army to further enable assistance to impacted areas.
The effects of Hurricane Matthew have impacted people, highways, homes, businesses, and farming operations throughout central and eastern North Carolina. The Farm Credit Associations of North Carolina serve many of the areas affected by the disaster. The mission of the Farm Credit System is to be there for the agricultural and rural communities through good times and bad.
The CEOs of Cape Fear Farm Credit, AgCarolina Farm Credit, and Carolina Farm Credit are Brad Cornelius, Dave Corum, and Vance Dalton respectively. They issued the following joint statement regarding the $110,000 flood relief donation:
“Hurricane Matthew devastated many areas of our state, and while there have been many stories of heartbreak and loss, it has also been encouraging to see people coming together to help others in a time of need. At Farm Credit, we will continue to uphold our mission to serve in the good times and bad to our members throughout North Carolina. It is an honor to represent the Farm Credit Associations of NC as we donate these funds to aid with ongoing recovery efforts.”
The Farm Credit Associations of NC are AgCarolina Farm Credit, Cape Fear Farm Credit, and Carolina Farm Credit. They are farmer owned financial cooperatives with headquarters in Raleigh, Fayetteville, and Statesville respectively. They are the leading provider of credit to farmers in North Carolina. The Associations have over $3.5 billion in loans and commitments outstanding to over 14,500 North Carolina farmers. Loans are made to finance land, homes, farm buildings, operating expenses, livestock and equipment, as well as other purposes. Credit life insurance, crop insurance, appraisal services, and leasing are also available through the Farm Credit Associations of NC.