CoBank Commits $250,000 to Support Hurricane Helene Relief Efforts

DENVER, Colo. - CoBank, a cooperative bank that serves agribusinesses, rural infrastructure providers and Farm Credit associations throughout the United States, announced today it has committed $250,000 to support disaster relief efforts in the wake of Hurricane Helene.

The bank joined its partners, AgFirst, Farm Credit Bank of Texas and Farmer Mac, to provide a joint $315,000 contribution to the American Red Cross to support relief efforts in communities impacted. In addition, CoBank is contributing $25,000 to the Disaster Recovery Fund through a joint effort with Cooperative Development Fund and NRECA, $25,000 to the Farm Credit System Employee Relief Fund through a joint effort with the Farm Credit Council, and $25,000 to the National Rural Water Association. CoBank has also set aside an additional $75,000 to be designated once long-term needs become clearer.

On September 26, Hurricane Helene made landfall in the Big Bend region of Florida as a Category 4 storm with maximum sustained winds of 140 mph. The storm followed a 600-mile path of destruction over the next three days, devastating communities across Georgia, South Carolina, North Carolina and Tennessee and leaving 15 million people without power and millions without water, destroying up to 10,000 homes and damaging nearly 400 roads and highways.

"The catastrophic impact resulting from Hurricane Helene - including historic flooding, mudslides and downed trees - has created a tremendous need for assistance, particularly in rural areas," said Thomas Halverson, CoBank's president and chief executive officer. "We are grateful for the immediate and ongoing support of all the great organizations and people stepping forward, and we are proud to partner with the American Red Cross and our partners across the Farm Credit System to aid in the relief efforts."

SOURCE: CoBank