Strengthening Underserved Agricultural Communities

In 2024, CoBank contributed $1.2 million to organizations that support our goals of serving the underserved, including a $250,000 grant to Native Agriculture Financial Services, a nascent financial services provider that will primarily provide credit and supportive financial services for Native agriculture producers, tribal organizations and tribal governments engaged in agriculture. Its purpose also focuses on providing lending and supportive services in those communities traditionally underserved and part of the broader rural community.

NAFS will begin by participating in loans with community development financial institutions investing in agriculture and rural economic development that supports Native farmers and ranchers. Tribes, nonprofits, community development financial institutions, and educational organizations will be able to apply for grants to provide agricultural education, business assistance and technical support for native farmers and ranchers. CoBank's grant to NAFS will create additional capacity within the organization, allowing it to secure additional support to aid in policy creation, legal support, audit and accounting support, and IT support. In addition to its financial support, CoBank provided NAFS with assistance from its own staff to further develop a feasibility study and general business plan budget for management's consideration. CoBank's support of NAFS aligns strongly with the mission service outlined in NAFS's sustainability strategy and supports CoBank's efforts to reach out to all types of creditworthy borrowers, particularly historically underserved groups.

As Janie Hipp, CEO of NAFS states, "Having worked in agriculture for the better part of 40 years, I know that all of us need to focus on supporting hard-to-reach agriculture communities or those who have been historically underserved. It is within those communities we will find and build those who will take part in the next generation of successful agriculture producers and more resilient and sustainable rural communities."