CoBank, the Denver based cooperative bank for agriculture, rural infrastructure and Farm Credit associations throughout the U.S., says it is renewing its "Sharing Success" charitable contribution program for 2014.
The CoBank board approved a $3 million commitment for the program, which will be used to match donations by co-op customers to nonprofit organizations in their communities.
The bank will match donations on a dollar-for-dollar basis from a minimum of $1,000 to a maximum of $5,000 per customer.
Since CoBank first launched the program in 2012, it has generated more than $9 million for non-profits throughout the nation, predominantly in rural areas.
"We continue to believe that the best way for CoBank to make a meaningful impact in terms of corporate citizenship is to partner with our customers," says Bob Engel, CoBank chief executive officer.
"Across rural America, cooperatives of all kinds are supporting charitable organizations and working to advance the growth and development of their communities. Sharing Success enables CoBank to leverage that local knowledge and expertise and provide assistance to causes that our customers care deeply about."
CoBank will begin formally accepting applications for funding from customers in May. The program will run through November, or to the point funds are exhausted, whichever comes first.
Co-ops interested in participating should contact their CoBank relationship manager for an application and detailed information requirements.
Engel says that more than 600 co-ops that borrow from CoBank took part in the Sharing Success program last year. "We hope even more of our customers participate this year and take advantage of this opportunity to increase the power of their local giving," he says.
"We look forward to joining with our customers through the program and sharing our success with them, in the best cooperative tradition."
For additional information on the Sharing Success program, along with application forms, go to www.cobank.com/sharingsuccess.