CoBank Increases Sharing Success Charitable Giving Program To $4 Million Per Year
DENVER (February 25, 2019) — CoBank, a cooperative bank serving agribusinesses, rural infrastructure providers and Farm Credit associations throughout the United States, today announced that the board of directors has increased the size of the bank’s annual Sharing Success charitable giving program from $3 million to $4 million per year.
Sharing Success provides matching funds for donations made by CoBank’s customers to local nonprofit organizations in their communities. Since its inception in 2012 the program has generated over $36 million in total charitable donations, primarily in rural areas across the country.
“We’re extremely grateful for this generous decision by our board,” said Tom Halverson, CoBank’s president and chief executive officer. “Over the past seven years, Sharing Success has enabled us to partner with our customers and elevate the amount of funding available for thousands of worthy causes across rural America. We’re look forward to making an even larger positive impact in the years ahead.”
In addition to increasing the annual Sharing Success allocation to $4 million, CoBank is raising the maximum matching amount per customer from $5,000 to $7,500 each year. Contributions by eligible borrowers will continue to be matched on a dollar-for-dollar basis.
“We urge all eligible customers to take advantage of Sharing Success,” said Sherry Johnson, senior manager of corporate social responsibility for CoBank. “Doing so is one of the best ways to leverage the power of an organization’s local giving and to help people and communities in need.”
Sharing Success launches each year on April 1 and runs through October 31 or when the fund is exhausted, whichever comes first. Customers interested in participating in Sharing Success should contact their CoBank relationship manager or visit cobank.com for an application and detailed program requirements.
CoBank is a $139 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 70,000 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.
For more information about CoBank, visit the bank's website at cobank.com.
Certain of the statements contained in this news release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual future business may differ materially and adversely from our expectations expressed in any forward-looking statements. Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “plan,” “project,” “target,” “may,” “will,” “should,” “would,” “could,” or similar expressions. Although we believe that the information expressed or implied in such forward-looking statements is reasonable, we can give no assurance that such projections and expectations will be realized or the extent to which a particular plan, projection or expectation may be realized. These forward-looking statements are based on current knowledge and subject to risks and uncertainties. We encourage you to read our Annual Report and Quarterly Reports located on the bank’s website at www.cobank.com. We undertake no obligation to revise or publicly update our forward-looking statements for any reason.
Senior Manager, Corporate Social Responsibility
Vice President, Corporate Communications
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