Bryan, Texas, March 28, 2018 (GLOBE NEWSWIRE) -- This month, Capital Farm Credit returns $77.5 million cash to its members in the form of patronage dividends. In addition, the association is setting aside $86.3 million in allocated equities for future distribution to its members, for a total 2018 patronage declaration of $163.8 million.
“As a borrower-owned cooperative, our members are also our owners,” said Ben Novosad, chief executive officer. “When Capital Farm Credit is successful, our members are successful.”
“Our patronage dividend program provides cash-back for our members,” said Novosad. “We return almost all of our earnings back to our members, and we’ve returned more than $750 million over the last decade.”
Capital Farm Credit has a long tradition of strong earnings, which accrues to the benefit of its members. The association brings value to its members by delivering credit and other financially related services to them effectively and efficiently. As Capital Farm Credit returns earnings through its patronage dividend program, the association effectively lower the cost of doing business for the farmers and ranchers who are members, which helps strengthen the agricultural economy and rural communities the company serves.
“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,” he added. “We’re in this together with our members, and together we’re better.”
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 21,500 members, with loans outstanding totaling more than $7.2 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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