AVON, IN – Hendricks Power Cooperative announced that CoBank has granted an additional $10,000 to be shared by the Hendricks County Community Foundation and the Putnam County Community Foundation in support of local COVID-19 relief efforts. Hendricks Power Cooperative and the Board of Directors initially funded over $15,000 toward the All In, Hendricks County Rapid Response Fund and the Putnam County Relief Fund to assist those with recent hardships. CoBank, a cooperative bank serving agribusinesses, rural infrastructure providers and Farm Credit associations throughout the United States, has awarded a matching donation through its Sharing Success program.
“We are grateful for our relationship with CoBank and thankful that they recognize our immediate needs,” stated Greg Ternet, chief executive officer of Hendricks Power Cooperative. “The Hendricks and Putnam County Community Foundations have done an excellent job of distributing funds to the non-profits in a quick manner, helping those in need as soon as possible.”
Sharing Success was established in 2012 to celebrate the International Year of the Cooperative. Since the program’s inception, CoBank and its customers have together provided more than $44 million in support to charitable organizations across the nation.
“Over many years, we have found that the most impactful way for CoBank to deploy charitable funds is to do so in partnership with customers, employees and other Farm Credit institutions,” said Thomas Halverson, CoBank’s president & chief executive officer. “That is the approach we have adopted with COVID-19. We appreciate the opportunity to work with Hendricks Power Cooperative to support their relief efforts.”
Other COVID-19 relief efforts by Hendricks Power Cooperative include funding to local health care providers, support to essential workers, blood drive support, and shop local efforts. Plans for an expedited, early patronage payout are also currently being arranged.
