FREDERICKSBURG, Texas — Capital Farm Credit stockholders will soon discover their portion of a record $42.1 million patronage in their mailboxes. It represents the cash portion of the total patronage refund of $138.2 million. The remaining $96.1 million is in the form of allocated equities and is eligible for future cash payouts.
Capital Farm Credit, a customer-owned cooperative, posted record earnings in 2012, enabling the Association to add to its long tradition of strong earnings and patronage.
“Capital Farm Credit values its customers and the more efficiently we operate, the better we can serve future generations in agriculture,” said Ben Novosad, chief executive officer. “We believe this is a value-added relationship that sets us apart from other financial institutions. Our ability to return patronage each year strengthens our mission to provide financing and related services to support Texas agriculture, and affords our membership lower net borrowing costs.”
Capital Farm Credit is the state’s largest rural lender and has 95 years of experience providing financing to Texas farmers, ranchers and other rural property owners. Headquartered in Bryan, it has more than 70 offices located throughout Texas. For more information about Capital Farm Credit and its patronage program, visit www.CapitalFarmCredit.com.