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CoBank Announces $5 Million Fund For U.S. Agricultural Research and Education

Bank contributions will support more than 30 land grant universities
and other institutions focused on agriculture

DENVER (February 12, 2013) – CoBank, a cooperative bank serving agribusinesses, rural infrastructure providers and Farm Credit associations throughout the United States, announced today that it has committed $5 million to fund agricultural research and education at land grant universities and other institutions throughout the United States.

The CoBank contribution will support a broad range of programs at more than 30 schools, including academic research, scholarships for students, cooperative education and leadership development.

 “We’re pleased to announce the establishment of this new fund,” said Everett Dobrinski, chairman of the CoBank board of directors. “For well over a century, land grant universities and other academic institutions have supported the development of the rural economy, helping U.S. agriculture to become the most productive and innovative in the world. This contribution, which was unanimously approved by our board, will enhance research and education programs at these schools and promote the continued advancement of American agriculture and rural America.”

Recipient institutions were selected based on a wide range of criteria, including the nature and extent of their agricultural programs as well as existing relationships with CoBank, its customers and Farm Credit association partners across the country. A full list of recipient universities is included in the table below:

Auburn University

Ohio State University

University of Illinois

California Polytechnic State University

Oklahoma State University

University of Maine

Colorado State University

Oregon State University

University of Minnesota

Cornell University

Purdue University

University of Missouri

Fresno State University

South Dakota State University

University of Nebraska

Illinois State University

Texas A&M University

University of Vermont

Iowa State University

Texas Tech University

University of Wisconsin

Kansas State University

University of Alaska

Utah State University

Montana State University

University of Arizona

Washington State University

New Mexico State University

University of California-Davis

 

North Dakota State University

University of Idaho

 

Details regarding the gifts to individual universities will be announced over the course of the year as the particulars of each grant are finalized. CoBank is designing each contribution in collaboration with the school as well as customers and Farm Credit associations from the surrounding area.

Bob Engel, CoBank’s president and chief executive officer, noted that support for research and education is an important part of the bank’s broader corporate social responsibility program. “One of the best ways for CoBank to return value to rural America is by giving to academic institutions that are engaged in agricultural research and training the next generation of rural business and civic leaders,” Engel said. “We’re deeply thankful for our board’s generosity and look forward to strengthening our long-term relationships with these great schools.”

The $5 million agricultural university fund follows a significant contribution by CoBank to the University of Colorado last year. In early 2012, the bank announced it would contribute $2.5 million to CU Denver Business School in support of a new center for commodities research and education at the school.

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About CoBank

CoBank is a $90 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 and the nation's rural economy.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 web site at www.cobank.com

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