Lone Star Ag Credit Paying 7 Million to Eligible Stockholders
Fort Worth, Texas – After a successful 2012, the Board of Directors at Lone Star, ACA (Lone Star Ag Credit) voted to pay $7 million in patronage dividends to its stockholders. The patronage will be paid in April this year. It will equal approximately 1% of borrower's 2012 loan balances, lowering their effective interest rates.
Receiving patronage is a direct result of borrowing from a Lending Cooperative. Because our customers are stockholders in the cooperative, they share in the earnings. That is why our patronage refund program makes us different from other banks. Being paid dividends offers borrower's an advantage.
Every year, the board of directors decides how much of the association's earnings will be retained by the association to provide capital for the organization and how much will be returned to eligible stockholders via payment of patronage dividends.
Over the past ten years the association has returned over $40 million to our stockholders.
Lone Star Ag Credit, part of the Farm Credit System, provides financing for a variety of loan programs at competitive interest rates. Our lending expertise is in agricultural and recreational real estate, farm and ranch operating needs, equipment and livestock purchases, agribusiness and country homes.
Lone Star Ag Credit's headquarters are in Fort Worth. They also have credit offices located in Cleburne, Sweetwater, Abilene, Stephenville, Weatherford, Denton, Sherman, Paris, and New Boston.
Published March 25, 2013