BRYAN, Texas — Customers of Capital Farm Credit, the state’s largest cooperative rural lender, will soon receive an important “thank you” in the mail from their lender. Last week Capital Farm Credit mailed patronage checks totaling $32 million to its customers.“This payment reinforces our commitment to the cooperative principle of sharing our earnings with our customers,” said Ben Novosad, chief executive officer. “We’ve paid patronage to our customers annually for more than a decade, even during challenging economic times.”In addition to the cash distribution, the lender returned $73 million to customers as allocated equities that are eligible for future cash payouts. With this combined $105 million patronage, Capital Farm Credit has distributed more than $400 million in capital through its patronage program and stock reductions in recent years. The patronage payment was based on Capital Farm Credit’s 2010 earnings. This continues a longstanding tradition by the rural lending cooperative of sharing its earnings with its customers. Capital Farm Credit is the state’s largest rural lender and is part of the nationwide Farm Credit System, celebrating 95 years of making loans to farmers, ranchers and other rural property owners. It is headquartered in Bryan and has offices located throughout the state of Texas. For more information about Capital Farm Credit, its patronage program and its office locations, visit www.CapitalFarmCredit.com.
The names are Will Slaughter, Dee Henrich, Jacki Eckert, Jeri Langehennig and Chase Smith