Farm Credit East Announces $250,000 in Flood Relief for Northeast Producers

Following devastating flooding in Vermont and other parts of the Northeast, Farm Credit East has announced its Farm Credit East Cares Community Fund will make available up to $250,000 in flood relief to impacted Northeast producers. Farm Credit East Cares is funded by employee contributions with a Farm Credit East match. In addition, CoBank, Farm Credit East’s funding bank, and FarmerMac are contributing to this effort.

Impacted producers are eligible for $500 individual donations. This financial assistance is not intended to replace equipment, infrastructure, or business losses, but instead to cover personal losses and other expenses. Funds from CoBank and FarmerMac will be contributed to the Farm Credit East Cares Community Fund, which will work with The Center for an Agricultural Economy to distribute. In addition to the direct assistance, any additional funds available will be contributed to organizations providing direct relief to producers in the region.

“We know many farmers and forest product producers have suffered significant losses and damage,” said Craig Pollock, Senior Vice President, and coordinator of Farm Credit East Cares. “We hope these donations can provide some short-term relief, whether to replace personal items or pay expenses in the short term while families begin the recovery process. We truly appreciate CoBank and FarmerMac’s generous contributions to this effort.”

Farm Credit East Cares was established following the devastation of Hurricane Irene in 2011. Since inception, this employee-led charitable fund has distributed more than $1 million in direct assistance to farm families and charitable organizations.

Impacted producers interested in receiving Farm Credit East Cares support can apply online at FarmCreditEast.com/floodrelief. Financial assistance is not limited to Farm Credit East members. Any farm, forest product or fishing business impacted by the July 2023 flooding in Farm Credit East’s eight state territory is eligible for this aid. Depending on available funding, applications will be considered on a rolling basis until September 15.

Farm Credit East members and Crop Growers crop insurance customers impacted by the flood should reach out to discuss their individual situation with their representative. Farm Credit East is committed to working with borrowers impacted by the flooding on a case-by-case basis to find the best solution.

Farm Credit East is a member-owned cooperative with 25 locations in its eight-state service area. In addition to loans and leases, the organization also offers a full range of specialized financial services, such as tax preparation, payroll, record keeping, appraisal and consulting for farming, forest products and commercial fishing businesses. Farm Credit East is governed by an 18-person board of directors, comprised of 15 customer-elected, two customer appointed and one outside appointed directors. For more information, visit FarmCreditEast.com.