CHARLOTTE The National Black Farmers Association on Monday called for a boycott of the soon-to-merge First Union Corp. and Wachovia Corp. after talks with the bank failed to produce new lending initiatives for black farmers and their communities. But even though one black farmers group called for a boycott, the banks announced progress in similar discussions with two other organizations.
The 66,000-member National Black Farmers Association, based in Heathsville, Va., began urging its members, as well as black churches and community organizations, to pull their deposits out of First Union and Wachovia.
Meanwhile the banks said that they had reached agreements with the 6,000-member Black Farmers and Agriculturalists Association and the Land Loss Prevention Project, both of Tillery, N.C., on a series of measures, including new loan programs and a $100,000 matching grant to help establish a farmers cooperative.
We are hopeful that the Black Farmers Association can also be part of the solution, said Mary Eshet, a First Union spokeswoman.