One of the financial benefits of being an AgTexas member-borrower is having the opportunity to share in the Association’s profits.  Most businesses and banks share their profits with the owners, not their customers!

After each fiscal year, our Board of Directors determines what portion of  the Association’s net income to distribute to our member-borrowers, while maintaining a safe and sound capital position to meet the future needs of its borrowers.

Each member's patronage refund is based on the proportion of interest earned on his or her loan to the total interest earned by the Association. A patronage refund may be paid in cash, allocated surplus, stock, or any combination of these items. The distribution of profits to our members effectively reduces the cost of borrowing money.

AgTexas Farm Credit Services Reports Record Earnings

March 2011 - AgTexas Farm Credit Services, a local rural financing cooperative, reported strong 2010 financial results, highlighted by the highest level of earnings in its 76-year history.

Record net income of $9.4 million for the year ended Dec. 31, 2010, was nearly triple the previous year’s income of $3.2 million. The increase was attributed largely to a reduction in the cooperative’s cost of funding, as well as to improved weather and market conditions for many AgTexas customers.

“We are extremely pleased with our improved profitability, because it allowed AgTexas to declare $3.1 million in patronage to our customers, who are the owners of the cooperative,” said Mitchell Harris, AgTexas chief executive officer. “Of this amount, a record $2.2 million in cash will be distributed to qualified borrowers in March.”

Since 1994, AgTexas has refunded nearly $39.8 million in patronage to its customer-stockholders, including $27.9 million in cash distributions.