CoBank responds to strong customer participation in program to match donations to charities across rural America; increases fund to $5 million
DENVER – August 18, 2021 – CoBank, a cooperative bank serving agribusinesses, rural infrastructure providers and Farm Credit associations throughout the United States, today announced that its board of directors has unanimously approved increasing its annual Sharing Success program to $5 million for 2021 in response to strong customer participation. Sharing Success is a cornerstone of CoBank’s corporate citizenship efforts, matching donations by the bank’s cooperative and other eligible customers to nonprofit organizations in their communities.
Sharing Success runs each year from April 1 through October 31, or the point at which the fund is exhausted. CoBank launched its 2021 program with a $4 million matching fund, but a record number of customer applications soon made it clear that the match would be fully utilized long before the October closing date.
“I am always moved by the generosity of our customers and their commitment to support the rural communities that they call home,” said Thomas Halverson, CoBank President and Chief Executive Officer. “By increasing our 2021 Sharing Success fund by a further $1 million, CoBank’s board of directors has ensured our ability to continue doubling the efforts of our customers, for the benefit of rural America.”
CoBank’s Sharing Success program relies on the local knowledge and expertise of the bank’s customers to identify organizations and programs that are truly making a different in rural communities. Since the program was established in 2012, CoBank and its customers have together contributed more than $62 million to groups such as volunteer fire departments, local schools and hunger relief programs.
For 2021, CoBank will continue to match contributions of eligible customers on a dollar-for-dollar basis up to a maximum of $10,000 per customer. Customers interested in participating should contact their CoBank relationship manager or visit the Sharing Success program page for detailed program requirements.
CoBank is a $158 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 75,000 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.