Lone Star Ag Credit Celebrates Centennial with Stockholders

Lone Star Ag Credit is celebrating the Farm Credit centennial with its 5,000-plus borrowers during customer appreciation dinners throughout the year.

The borrower-owned lending cooperative will host a dinner for each of its 16 branches across North and Central Texas. The events are one of the ways that Lone Star shows its appreciation for its borrowers, who are also co-op members and owners.

Lone Star is one of the oldest lenders in the Farm Credit System, a nationwide network of lending cooperatives established in July 1916. The co-op has supported rural communities and agriculture with reliable credit since 1917, when a couple with a 300-acre farm in Grayson County borrowed $10,000 — the first Farm Credit loan in Texas.

Today Lone Star serves 48 Texas counties, providing financing for rural land, rural homes, agribusinesses, livestock, agricultural equipment and operating expenses.

The lender also embraces the principles behind its cooperative structure, supporting education and community causes, overseeing the operation with a member-elected board, and sharing its earnings with its customers through its patronage program. This spring Lone Star distributed $12.8 million in patronage dividends to eligible borrowers.

"A business can only make it to the century mark by being committed to its customers," said Troy Bussmeir, chief executive officer of Lone Star Ag Credit. "Our co-op focus is what's brought us this far. We're proud to have served many generations of Texans."

Each branch's customer appreciation dinner in 2016 is a celebration of the Farm Credit System's first 100 years of service. Lone Star's Sherman and New Boston credit offices were the first to host a customer appreciation dinner this year. Their borrowers recently celebrated the centennial over a steak dinner.

Headquartered in Fort Worth, Lone Star Ag Credit has credit offices in Abilene, Cleburne, Corsicana, Denton, Fort Worth, Hillsboro, Lampasas, Mount Pleasant, New Boston, Paris, Round Rock, Sherman, Stephenville, Sweetwater, Temple, Waco and Weatherford.

Borrowers will be notified about customer-appreciation events in their areas.




Published May 27, 2016