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Lone Star Ag Credit Thanks Denton Credit Office Customers

Denton, Texas — Almost 100 stockholders and special guests of Lone Star Ag Credit's Denton credit office attended the annual customer appreciation dinner on Sept. 25. The event was held at the Decatur Civic Center in Decatur, Texas.

“Thanking our borrowers is very important to Lone Star," Credit Office President Don Poole, said. “Their support makes all the difference for our association's future. 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, Poole 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 Craig Hartman, Michelle King and Lee Ann Starr 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 the rural community in general. Lone Star Ag Credit's Denton credit office supports the local and county youth livestock shows for Denton and Wise counties.

Published September 25, 2014