Lone Star Ag Credit Thanks Sweetwater Branch Customers
Sweetwater, TX – Over 100 Stockholders and special guests of Lone Star Ag Credit's Sweetwater branch turned out on August 5 for the office's annual customer appreciation dinner. The event was held at the Sweetwater Country Club.
“It is a pleasure for our staff to host this dinner each year and say thank you to our stockholders," Credit Office President, Jason Jones said. Lone Star Ag Credit is now a $1.35-billion rural lender that serves 48 Texas counties with 16 credit offices.
Lone Star was honored to have Congressman Randy Neugebauer attend. He represents the 19th Congressional District which includes 29 counties in West Texas. He is on the Financial Service Committee where he serves as Chairman of the Housing and Insurance Subcommittee.
At the dinner, stockholders were reminded that because they are part of a cooperative, eligible borrowers received a patronage dividend check from Lone Star in May. The lending co-op distributed a total $11.95 million in cash patronage to stockholders, based on the cooperative's strong 2013 financial performance. The patronage dividend effectively reduced borrowers' interest rate for 2013 by approximately 1 percentage point.
The evening closed with the presentation of gifts for everyone who attended and a drawing for door prizes for adults and children who attended.
As part of the nationwide Farm Credit System, Lone Star Ag Credit has been a reliable source of financing for rural America since 1917. The lender provides financing for agricultural and recreational real estate, rural homes, agricultural equipment, livestock, ag operating expenses and agribusiness firms.
The member-owned co-op has a long tradition of community service which not only centers around agriculture but the community in general. Lone Star donates to and helps sponsor the local and county stock shows for Nolan, Fisher, Mitchell, Scurry, Kent and Borden Counties. It also is involved in helping support the local volunteer fire departments, United Way, Relay for Life, along with several other community functions. Lone Star is a member of the Chamber of Commerce as well as the employees serve on several community boards.
Published August 7, 2014