Mar 5, 2021
Legacy Ag Credit Returns $2.47 Million in Patronage to Customers
Sharing profits with members is one of the hallmarks of the cooperative business model. Patronage payments return a portion of the interest borrowers paid on their loans the previous year, effectively reducing their interest rate for that period.
Over the past 15 years, Legacy has returned more than $20 million in cash patronage to its customers.
Legacy Ag Credit finances rural land, agricultural production, country homes, poultry farms, timber operations, ranches, young, beginning, small farms, and agribusinesses in Franklin, Gregg, Harrison, Hopkins, Kaufman, Marion, Rains, Upshur, Van Zandt and Wood counties. It is headquartered in Sulphur Springs and has lending offices in Canton, Gilmer, Terrell, Longview and Sulphur Springs.
The lender is a part of the Farm Credit System, a nationwide network of cooperatively owned banks and lending associations, and has been a reliable source of rural credit for more than 100 years.