AG Shapiro: AgChoice Farm Credit Joins ‘PA CARE Package’ Initiative, Offering Expanded Consumer Relief
HARRISBURG―Attorney General Josh Shapiro today announced that AgChoice Farm Credit has agreed to join the ‘PA CARE Package’, Pennsylvania’s consumer relief initiative. By joining these efforts, AgChoice Farm Credit, along with the Office of Attorney General, will ensure Pennsylvania consumers impacted by the COVID-19 pandemic are eligible for additional economic relief.
Under the ‘PA CARE Package’ initiative, banks and financial institutions are working with the Office’s Bureau of Consumer Protection to both comply with the recently-passed CARES Act and offer additional important protections for consumers affected by the COVID-19 pandemic.
“Pennsylvanians need financial protection during this emergency, which is why we launched PA CARE Package to provide relief right now. I thank AgChoice Farm Credit for joining this effort to help consumers. We can beat this crisis, but consumers and small businesses, including farmers, need to know their rights and use the resources available to them,” said Attorney General Shapiro. “This commitment will help Pennsylvania communities and businesses who are facing lost wages, lost jobs, and lost income focus on what’s important — staying safe and healthy during this emergency.”
“AgChoice Farm Credit is pleased to partner with the PA CARE initiative and give our customers, Pennsylvania farmers, small businesses and rural property owners, additional assistance during this challenging time,” said Darrell Curtis, AgChoice Farm Credit President and CEO.
Rural counties in Pennsylvania have been some of the hardest hit by the economic impact of COVID-19. The Commonwealth’s agricultural industry, particularly family-owned dairy farms, has struggled with the short shelf life of products. Supply chain disruptions have resulted in unsold and wasted products across the agriculture industry and financial losses for Pennsylvania farms.
To commit to the ‘PA CARE Package’ initiative, financial institutions and banks must offer additional assistance to Pennsylvanians facing financial hardship due to impacts of the COVID-19 pandemic.
- Expansion of small and medium business loan availability
- 90-day grace period (at least) for mortgages not already covered by the CARES Act’s 180-day grace period
- 90-day grace period for other consumer loans such as auto loans
- 90-day window for relief from fees and charges such as late, overdraft fees
- Foreclosure, eviction, and motor vehicle repossession moratorium for 60 days
AgChoice Farm Credit specializes in providing farm and country property loans and financial services to help our customers confidently reach their dreams. To learn more about AgChoice Farm Credit, contact us at 1-800-998-5557 or visit AgChoice.com.
For more information on the ‘PA CARE Package’ initiative, visit the Pennsylvania Office of Attorney General’s Coronavirus webpage at www.attorneygeneral.gov/COVID19.
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