CoBank, a cooperative bank serving agribusinesses, rural infrastructure providers and Farm Credit associations throughout the United States, announced today that it has launched a new pilot program focused on promoting prosperity and economic development in the nation’s rural areas.
The bank has allocated $1.5 million in 2025 to fund grants to nonprofit organizations around the country that serve as development hubs in their local areas and regions. The initial group of grant recipients serves a total of 23 states and focuses on a wide range of rural programs, including economic development, entrepreneurship, food systems, education, health care and civic leadership.
“CoBank is excited to be introducing this program as part of our broader portfolio of charitable activities focused on rural America,” said Tom Halverson, CoBank’s chief executive officer. “The U.S. rural economy is highly dynamic, with new challenges and opportunities emerging every day. We believe there is an opportunity for CoBank to contribute to the well-being of rural America by supporting innovative nonprofit organizations with strong track records of success driving growth and vibrancy in their communities.”
“We believe there is an opportunity for CoBank to contribute to the well-being of rural America by supporting innovative nonprofit organizations with strong track records of success driving growth and vibrancy in their communities.” – Tom Halverson, CoBank
The initial grant recipients for the program are:
- Communities Unlimited
- Kansas Health Foundation
- Local First Arizona
- Region 5 Development Commission
- Rural Community Assistance Corp.
- Rural Development Initiatives
- Main Street Skowhegan
- Southwest Initiative Foundation
“A common attribute of all our initial grantees is that they are all serving as Rural Development Hubs in their regions and advancing an asset-based approach to community and economic development,” said Leslie Hagele, CoBank’s vice president of corporate social responsibility. “We look forward to supporting this community-led work and finding effective ways to share results and findings across our network of rural philanthropic partners.”
CoBank worked with the Community Strategies Group, a program of the Aspen Institute (Aspen CSG) to design and implement the new pilot program. Aspen CSG has over 40 years of experience in the area of rural economic development.