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Lone Star Ag Credit Returns a Record $12.1 Million to Borrowers

FORT WORTH, Texas – Lone Star Ag Credit, a customer-owned lending cooperative, is distributing $12.1 million to its borrowers this spring. Eligible customers will receive their portion of this patronage payment in April.

The payment is one of the ways that Lone Star fulfills its mission to be an efficient, responsive and dependable source of credit to enhance the quality of life in rural America. Borrowers become stockholders in the cooperative, which gives them the opportunity to share in its financial success through its patronage dividend program.

With this year's patronage payment, Lone Star is returning over 44 percent of its $27.1 million 2014 net income to its stockholders, effectively lowering their interest rates by a full percentage point.

"Our board of directors is deeply committed to our cooperative structure, and voted to approve this patronage dividend for the borrowers who contributed to our financial strength in 2014," said Troy Bussmeir, Lone Star Ag Credit chief executive officer. "It is gratifying to thank our customers for their business by delivering this added value."

Lone Star Ag Credit serves 48 Texas counties and provides financing for rural land, rural homes, agribusinesses, livestock, and agricultural equipment and operating expenses. Lone Star is part of the Farm Credit System, a nationwide network of agricultural and rural lending cooperatives. The association is headquartered in Fort Worth and 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.

Patronage Program for 2015

Published April 2, 2015