Lending associations in the Texas Farm Credit District declared $299.5 million in patronage to borrowers — like you — based on their 2019 earnings.
The district comprises Farm Credit Bank of Texas and 14 associations in Alabama, Louisiana, Mississippi, New Mexico and Texas.
Farm Credit institutions are customer-owned cooperatives, so when they have a good year, customers benefit.
Farm Credit co-ops keep only the earnings they need to stay financially strong and fund growth. They return the remainder to member-borrowers in the form of patronage payments. Patronage can significantly reduce the cost of borrowing from a Farm Credit lender.