Farm Credit Associations Join Together to Support Texas Winter Storm Relief

By March 8, 2021Latest News
Texas flag hanging in a snowy, winter scene
FOR IMMEDIATE RELEASE / March 5, 2021 / Communications

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.”

green Farm Credit bio-star leaf icon“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.