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Lone Star Ag Credit Thanks Waco Customers

Waco, Texas — More than 200 stockholders and special guests of Lone Star Ag Credit's Waco credit office attended the Sept. 16 customer appreciation dinner. The event was held at the Texas Rangers Hall of Fame and Museum in Waco.

“We enjoy this gathering every year," Credit Office President Aaron Nors said. “It's the best opportunity we have to thank our customers for their support. We wouldn't be successful without them." Lone Star Ag Credit is now a $1.35-billion rural lender that serves 48 Texas counties with 16 credit offices, since its recent merger with Texas Land Bank.

While addressing the crowd, Nors remarked that the merger has created an even larger and stronger cooperative for stockholders.

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.

Lone Star staff members Larna Barber, Marsha Firmin, Adam Goldenberg, Justin Kelly and Suzanne Majewski presented gifts to everyone who attended and held a drawing for door prizes for adults and children.

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 borrower-owned co-op has a long tradition of service to agriculture and to the rural community in general. Lone Star Ag Credit's Waco credit office supports the local and county youth livestock shows for Bosque, Coryell and McLennan counties, and is a sponsor of March of Dimes, among other organizations in the area.

Published September 26, 2014