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Farm South Farm Credit starts fund to help farmers impacted by 2016 flood events

November 3, 2016


First South Farm Credit

From left, board chairman Gaston Lanaux, President David Wilson, Commissioner Mike Strain and board member Jimmy Norsworthy.

Baton Rouge, La. (Nov. 3, 2016) – Agriculture and Forestry Commissioner Mike Strain, D.V.M., accepted a $25,000 donation today from First South Farm Credit representatives which will be placed into a fund to benefit farmers who were impacted by the 2016 flood events.

First South Louisiana Division President David Wilson, First South Board Chairman Gaston Lanaux and AgFirst and First South Farm Credit board member Jimmy Norsworthy presented the donation at a ceremony held at Strain’s office in Baton Rouge.

“Helping our fellow man – this is what the agricultural community is about,” Strain said. “We are fortunate to have great organizations like First South Farm Credit who are committed to propping up our farmers.

“Many farmers don’t have crop insurance or are underinsured. This fund will be used to help our uninsured or underinsured farmers purchase crop insurance at a level that will actually help them cash flow in the event of a significant crop loss,” Strain said.

“First South’s business is agriculture. Risk is a factor in every agricultural enterprise. Our producers are constantly evaluating their level of risk and seeking to insulate themselves from it,” Wilson said. “Flood events like the ones our producers encountered this year, show us just how difficult it is for them to protect against all forms of risk.  Crop insurance is an under-utilized tool in this regard.  Our hope is that this new support program will create a heightened awareness about the value of crop insurance for risk protection.”

Lanaux said, “The board voted to help out flood victims and we wanted our donation to go agriculture so we reached out to Commissioner Strain.”

“This was an opportunity for us to give back to the community we serve,” Norsworthy said.

The Louisiana Agricultural Finance Authority will manage the program which is currently being developed.

“We are in the process of seeking additional donations to help build the program,” Strain said. “With that said, I challenge other private-sector entities to consider similar donations.”