May 13, 2009

U.S. Secretary of Agriculture Tom Vilsack, U.S. Sens. Michael Bennet and Mark Udall and Congresswoman Betsy Markey vowed Monday to call federal regulators to seek more time for farmers and ranchers to find loans.The closing of the New Frontier Bank in Greeley was the big topic as the Colorado lawmakers, Vilsack and Gov. Bill Ritter met with a standing-room crowd at the Morgan County Fairgrounds in Brush for a rural community forum.

Vilsack was there to tell agricultural operators that his agency had freed up $253 million in direct loans and emergency loan guarantees to help about 2,500 Northeastern Colorado farm families to stay in operation after the bank closed.However, the need is much more immediate, several audience members said, because bank regulators want to complete the shutdown of New Frontier quickly.