Farmer-owned cooperatives join, $10 million invested into New Mexico agriculture through Rural Roots Endowment

Farm Credit of New Mexico is now Farm Credit association, American AgCredit

LAS CRUCES, N.M., Oct. 2, 2023 /PRNewswire/ -- The continued strength and growth of New Mexico agriculture is a key focus in the Oct. 1 merger between American AgCredit (AAC) and Farm Credit of New Mexico (FCNM). To keep FCNM capital working for the success of local agriculture, American AgCredit is funding a $10 million Rural Roots Endowment. The endowment is focused on investing in the long-term viability, sustainability, and profitability of agriculture in New Mexico. 

"Firmly rooted in American AgCredit's core values is an unwavering commitment to the communities where we work and live," said Shacey Sullivan, executive head of communications and government relations at American AgCredit. "Our customers — especially young and beginning farmers and ranchers — are paramount to the continued success of American agriculture and our nation's food security." 

American AgCredit designed the endowment to provide grants and direct funds to New Mexico agricultural organizations that support the next generation of farmers and ranchers – like FFA, 4-H, junior livestock, and scholarships –- as well as protect New Mexico agriculture, fight hunger in New Mexico, and continue ag education in New Mexico. 

To manage the endowment, AAC is proud to partner with the Community Foundation of Southern New Mexico (CFSNM). For over 34 years, the CFSNM has awarded grants, scholarships, and emergency funding in New Mexico. Rural Roots Endowment grant funds will be released starting in 2024. 

"The Rural Roots Endowment is focused on the future—a commitment to supporting farmers, ranchers, and our neighbors who live and work in rural America," said Dr. Terra V. Winter, Ph.D., president and chief executive officer at the Community Foundation of Southern New Mexico. "It will support New Mexico agriculture's success well into the future."

Last year, American AgCredit invested nearly $1.4 million in donations, sponsorships, scholarships, volunteer hours and special programs focused on young and beginning farmers and feeding people. To learn more about how local communities benefit from American AgCredit's investments, visit https://www.agloan.com/about-us/community-giving/#report.

ABOUT AMERICAN AGCREDIT 

American AgCredit was chartered in 1916 as part of the nationwide Farm Credit System and is the nation's fifth-largest Farm Credit association. American AgCredit specializes in providing financial services to agricultural and rural customers in California, Colorado, Hawaii, Kansas, New Mexico, Nevada, and Oklahoma, and serves capital market customers throughout the United States. 

American AgCredit's financial services include production and mortgage financing, equipment and vehicle leasing, crop and life insurance, lines of credit, and the Young, Beginning and Small Farmer Program. American AgCredit also provides interest-free loans for qualifying 4-H, FFA and AgYouth programs, and college scholarships to students interested in agriculture. Learn more at AgLoan.com.

SOURCE American AgCredit

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