Bryan, Texas, March 27, 2024 (GLOBE NEWSWIRE) -- Texas’ largest agricultural lender continued to post strong financial results in 2023. Capital Farm Credit will return $118.8 million in cash patronage to its borrowers, with another $124.7 million in allocated equities declared for potential disbursement.
“We return almost all of our earnings back to our membership and believe our cooperative returns program is one of the strongest in the country,” said Sally Lawson, chief financial officer. “We’re proud to support rural Texas by providing agricultural producers with capital to sustain their operations and agriculture production throughout the state.”
Capital Farm Credit has paid cash patronage and allocated equity of $2.7 billion since 2006, upholding the same mission since its establishment more than a century ago.
The Association’s Cooperative Returns Program effectively lowers the cost of doing business for farmers, ranchers, and recreational property owners. This tradition of strong earnings continues to benefit cooperative membership.
“As a member-owned cooperative, we make governing decisions with our stockholders in mind,” said John Malazzo, chairman of the board of directors. “Our Cooperative Returns Program is a unique and powerful benefit of doing business with our cooperative.”
“When Capital Farm Credit is successful, our members share in that success.”
About Capital Farm Credit
For more than 100 years, Capital Farm Credit has supported rural communities and agriculture with reliable, consistent credit and financial services. Capital Farm Credit is a proud member of the Farm Credit system and serves more than 23,000 members, with loans outstanding totaling more than $12 billion. Headquartered in Bryan, Texas, Capital Farm Credit has offices serving 192 of Texas’ 254 counties.
For more information about its financial services, patronage dividend program and office locations, visit CapitalFarmCredit.com.
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