Lone Star Ag Credit will return more than half of its earnings from 2016 to its eligible borrowers on March 21, National Agriculture Day. The customer-owned lending cooperative is celebrating the event with its customers at open houses across its 48-county territory.
This marks the 44th annual National Ag Day, which has the theme “Agriculture: Food for Life.” Communities and classrooms across the country are planning celebrations that raise awareness of the industry’s role in providing abundant, safe and affordable food and fiber.
“Agriculture is the heart of our business and a way of life in the communities we serve,” said Troy Bussmeir, Lone Star Ag Credit chief executive officer. “We enjoy this opportunity to celebrate our agricultural heritage with our customers and thank them for their business.”
Because Lone Star Ag Credit borrowers own the cooperative, they share in its success. This year Lone Star is distributing a record $13.8 million to eligible customers through its patronage program, effectively lowering their borrowing costs by refunding a portion of the interest that they paid on their loans last year.
Lone Star provides financing for rural land, rural homes, agribusinesses, livestock, and agricultural equipment and operating expenses. Headquartered in Fort Worth, it has credit offices in Abilene, Cleburne, Corsicana, Denton, Fort Worth, Hillsboro, Lampasas, New Boston, Paris, Round Rock, Sherman, Stephenville, Sweetwater, Temple, Waco and Weatherford.
It is part of the nationwide Farm Credit System, which provides credit and financial services to rural communities and agriculture.