November 15, 2017
Capital Farm Credit Returns $93.5 Million to Borrowers
Together We're Better
When you borrow money at Capital Farm Credit, you become something special—one of the owners of this cooperative.
When we make a profit, you get your share. Our patronage dividend program provides cash-back for our members, and that's put more than a half-billion dollars back in their pockets over the last decade. Because we're all in this together. And together, we're better.
Capital Farm Credit's Board of Directors recently approved a $36.8 million cash retirement of remaining allocated equities issued in 2010. Borrowers with loans in 2010 will receive their share of the cash payment in checks mailed this month.
Combined with the $56.7 million cash patronage paid in March of this year, Capital Farm Credit will have returned total cash distributions of more than $93.5 million to our members in 2017.
"We continue our tradition of strong earnings, which is a benefit for our members," said Ben Novosad, chief executive officer. "The earnings we return through our patronage dividend program help to effectively lower the cost of doing business for the farmers and ranchers we serve.
"Over the past 10 years, we have returned more than 95 percent of our earnings back to our members," added Novosad. "That adds up to more than half a billion dollars returned to our members."
Capital Farm Credit has a long tradition of strong earnings, which accrues to the benefit of our members. We bring value by delivering credit and other financially related services to our members effectively and efficiently. As we return the earnings through our patronage dividend program, we help to strengthen the agricultural economy and rural communities we serve.
"As a borrower-owned cooperative, we are governed by the farmers and ranchers who borrow from us," added Novosad. "Our patronage dividend program is a unique benefit to our members that sets us apart from other lenders. We're proud to support rural Texas communities and agriculture with reliable, consistent credit and financial services by providing farmers and ranchers with the capital they need to make their businesses successful."