(PRWEB) July 21, 2012
The Farm Credit Associations and Regions Bank will provide for the scholarships that were previously earned but not yet awarded by the State Fair of Virginia. These funds will be turned over to the Virginia Tech Foundation, and coordinated with The Virginia Cooperative Extension Service, for proper administration.
“It is with great excitement that the Farm Credit Associations and Regions Bank were successful in protecting the interests of the youth of Virginia who had earned scholarship funds by participating in events at the State Fair of Virginia,” said Dave Lawrence, CEO of Farm Credit of the Virginias.
The SFVA filed for bankruptcy late last year and the matter has just been favorably resolved wherein the bondholders, comprised of Farm Credit Associations and Regions Bank, received custody of these funds. The bondholders have unanimously agreed to honor the promise made to the Virginia youth by the State Fair of Virginia. Working diligently with the VT Foundation and the Virginia Cooperative Extension Service, that dream will soon become a reality.
Farm Credit and Regions Bank have always been and continue to be very supportive of youth and their interest and education in the field of agriculture. We hope that these funds will be of assistance to these deserving youth as they pursue their dreams of a higher education.