Stover, who for more than 30 years served in various positions, including assistant director, executive director and board member of the corporation, “used taxpayer dollars to benefit herself and her political allies – once giving a $107,000 loan to her own accountant that was meant for low-income farmers and ranchers,” according to a Montoya campaign statement.
The New Mexico Rural Rehabilitation Corp., and others around the country, were created with taxpayer funds during the Great Depression to provide loans for the benefit of low-income rural residents and farmers.
In 1998, New Mexico Sen. Jeff Bingaman asked the USDA, which oversees rural rehabilitation programs, to take a look at possible irregularities in the state corporation. The department responded that the corporation was in compliance with federal law.
The corporation in 1999 changed its bylaws to allow loans to employees, officers and directors, most of whom are family members. It is unclear if any family members received corporation loans.