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Lone Star Ag Credit Celebrates Centennial with Customers in Waco

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

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 Waco credit office primarily serves Bosque, Coryell and McLennan counties. Approximately 250 borrowers and friends of the branch office recently celebrated the centennial over a BBQ dinner at the Baylor Club at McLane Stadium.

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.

"Without our customers, we could not celebrate 100 years of rural lending," said Aaron Nors, Waco credit office president. "It is also nice to see new customers learn about our history and see the benefits of financing with Lone Star Ag Credit."

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.

Baylor University's Baylor Club at McLane Stadium was the setting for this year's Waco Appreciation dinner.

Published August 31, 2016