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Mar 5, 2021

Farm Credit Associations Join Together to Support Texas Winter Storm Relief

BRYAN, Texas – Following the recent destructive winter storms that impacted the entire state of Texas, Farm Credit organizations from across the state and nation partnered together to support relief efforts for rural communities and residents across the 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 are donating a combined $250,000 to support the Texas Department of Agriculture’s State of Texas Agriculture Relief Fund, the Texas and Southwestern Cattle Raisers Association Disaster Relief Fund and the American Red Cross.

Texas was hit hard during February winter storms that left millions without power and water. The aftermath of crippling freezing temperatures continues to impact farmers and ranchers in their efforts to restore operations. According to preliminary data from Texas A&M AgriLife Extension Service agricultural economists, the winter storm caused at least $600 million in agricultural losses.

“The spirit of a cooperative is built upon producers helping producers,” said Ben Novosad, chief executive officer of Capital Farm Credit. “Farm Credit understands what our fellow Texans and rural communities are facing. Crops, livestock, and livelihoods were severely disrupted.  Farmers and ranchers are resilient, but we want to make sure we’re there for them in their time of need, like we always have been.”

“The Farm Credit System was established in 1916 to be there for farmers and ranchers during good times, and bad,” added Novosad. “As a cooperative, we understand the strength that comes when people and organizations work together.”

"The donation to the STAR Fund from so many Farm Credit associations exemplifies the spirit of Texas - its Texans helping Texans," said Texas Agriculture Commissioner Sid Miller. "On behalf of all Texas farmers and ranchers, I want to express my deep gratitude to the all the Farm Credit associations from within the state, and those outside the state, that pitched in to help.  Every Texan should walk just a little bit taller today when they see this kind of generosity. Thank you."

The State of Texas Agriculture Relief (STAR) Fund was established by the Texas Department of Agriculture to provide relief for Texas farmers, ranchers and agribusinesses owners impacted by natural disasters as they work to rebuild operations.  Equally, the Texas and Southwestern Cattle Raisers Association (TSCRA) Disaster Relief fund aids in the recovery efforts of Texas ranchers and their families to restore production. 

“Both the STAR Fund and the TSCRA Disaster Relief Fund will help contribute to restoring rural communities, and assist the families that were severely impacted,” said Novosad. “Farm Credit’s mission is to support agriculture and rural communities. This is another way we can do that.”  
 

About AgTexas Farm Credit

AgTexas Farm Credit is a customer-owned lending cooperative, providing financing for agricultural operations, agribusinesses, homes, and rural real estate as well as insurance and leasing services for the Ag industry since 1934. Headquartered in Lubbock, AgTexas serves approximately 3,000 members in 43 Texas counties through 12 offices. AgTexas is part of the Farm Credit System, a network of financial cooperatives established in 1916 to provide a dependable source of credit to farmers and rural America. Learn more at www.agtexas.com.


About American AgCredit

Founded in 1916, American AgCredit specializes in providing financial services to agricultural and rural customers throughout California, Colorado, Hawai‘i, New Mexico, Nevada, Kansas and Oklahoma, as well as to capital markets customers in all 50 states. American AgCredit serves customers through 34 branch offices located throughout the Western and Midwestern states, with corporate headquarters in Santa Rosa, California. Learn more at www.agloan.com.


About Capital Farm Credit 

For more than 100 years, Capital Farm Credit has supported rural communities and agriculture with reliable, consistent credit and financial services. Capital Farm Credit is a proud member of the Farm Credit system and serves more than 21,500 members, with loans outstanding totaling more than $8 billion. Headquartered in Bryan, Texas, Capital Farm Credit has offices serving 192 of Texas’ 254 counties. Learn more at www.capitalfarmcredit.com.


About Central Texas Farm Credit

Central Texas Farm Credit is a member of nationwide Farm Credit System, financing farm and ranch land, agribusiness operations, rural land and homes, and recreational property in its 20-county area. Headquartered in Early, the cooperative has branch offices in Brady, Coleman, Comanche, Haskell, San Angelo, and San Saba. Learn more at www.centraltexasfarmcredit.com.


About Farm Credit Bank of Texas

Farm Credit Bank of Texas is a cooperatively owned wholesale bank that finances agriculture and rural America. It funds rural lending co-ops so they can make loans to farmers, ranchers, agribusinesses and rural property owners. The bank is a part of the Farm Credit System, the nation’s oldest and largest source of rural financing.   


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 and beginning producers. With nearly $33 billion in assets and $6.3 billion in members’ equity, FCSAmerica is one of the region’s leading providers of credit and insurance services to farmers, ranchers, agribusiness and rural residents in Iowa, Nebraska, South Dakota and Wyoming. Learn more at www.fcsamerica.com.


About Heritage Land Bank

Heritage Land Bank provides innovative financing solutions other banks simply can’t offer when it comes to rural real estate, agricultural operations, agribusinesses and country homes. Founded in 1917, Heritage Land Bank is a member of the Farm Credit System, a nationwide network of rural lending cooperatives. With headquarters located in Tyler, Heritage Land Bank operates across 16 Texas counties ranging from Dallas-Fort Worth to Lufkin. To learn more, visit heritagelandbank.com.


About Legacy Ag Credit

Legacy Ag Credit is an agricultural lending cooperative financing rural land, agricultural production, country homes and agribusinesses in the northeastern region of Texas with offices in Sulphur Springs, Canton, Gilmer, Longview and Terrell.  Part of the Farm Credit System, a nationwide network of cooperatively owned banks and lending associations, Legacy has been a reliable source of rural credit for more than 100 years.  Learn more at www.legacyaca.com


About Lone Star Ag Credit

With approximately $2 billion in assets, Lone Star Ag Credit provides financing for rural land, country homes, agribusinesses, livestock, agricultural equipment and operating expenses. The rural lender headquartered in Fort Worth serves approximately 5,000 customer-owners in 48 counties and has credit offices 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

Plains Land Bank provides long-term financing for agricultural producers and rural property owners. Our main priority is to improve the means and well-being of farmers, ranchers, and rural life in the Texas Panhandle. Part of the nationwide Farm Credit System, the Amarillo-based lending cooperative has branch offices in Amarillo, Pampa, Perryton and Plainview.  Learn more at www.plainslandbank.com.


About Texas Farm Credit

Texas Farm Credit (TFC) is an agricultural lending cooperative that provides competitive rates, flexible terms, and personal service to farmers, ranchers, rural residents, and agribusiness firms from the Red River to the Rio Grande Valley. Not only does TFC finance a wide range of farming and ranching operations, it also offers home and rural real estate mortgage loans, as well as provides a variety of insurance services to its members. Headquartered in Robstown, Texas, TFC serves 100 Texas counties and is part of the Farm Credit System, a nationwide network of rural lending co-ops established in 1916.