Lone Star, ACA (Lone Star Ag Credit), the premier ag-lender in Texas, is pleased to announce its cash patronage payout of $2,000,000. Due to the financial position of the Association, the Board of Directors voted in December to return this cash payment to their stockholders from 2011 earnings. This amount raises the 10-year total to more than $38 million returned to customers.
In addition to the cash distribution, the Association has declared a nonqualified retained surplus allocation from 2011 earnings. The benefit of this allocation is that it earmarks a portion of the Associationâ€™s earnings for the year declared to those eligible stockholders that contributed to the Associationâ€™s income.
â€śWe appreciate each and every customer for their loyalty to Lone Star Ag Credit over the past two years. Weâ€™ve made it through some hard times and are excited to be able to pay a cash patronage this year. Our stockholders once again can benefit from our successâ€ť said Steve Fowlkes, CEO.
For more than 90 years, Lone Star Ag Credit has been a reliable source of financing for Rural America. Lone Star Ag Credit is a $925 million customer-owned cooperative that provides courteous, accurate service through a well-trained, highly motivated staff. Lone Star Ag Credit offers a wide variety of loan programs at competitive rates including agricultural and recreational real estate, rural homes, operating, equipment, livestock and agribusiness loans. Lone Star Ag Creditâ€™s administrative offices are located in Fort Worth with credit offices located in Sweetwater, Abilene, Stephenville, Weatherford, Cleburne, Denton, Sherman, Paris and New Boston.
The local office will host a Sweetwater Chamber of Commerce after hours event at 5:30 p.m. on Wednesday, March 21, 2012, at 400 E. Third Street.