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Texas Farm Credit to Distribute $19.5 Million to Stockholders

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Image of a the patronage graph chart showing how Texas Farm Credit distributes funds

Texas Farm Credit is distributing a record $19.5 million in cash patronage dividends to its customers. About 4,200 checks are going out across its 100-county territory.

This is the 24th year in a row that Texas Farm Credit stockholders have received a patronage payout. Patronage lowers borrowing costs by refunding a portion of the interest paid the previous year – a unique benefit of the cooperative business model.

On average, a Texas Farm Credit borrower who had a 5.0% interest rate in 2021 effectively paid 3.85% as a result of this patronage dividend. The cooperative also allocated another $5.9 million of its 2021 earnings to members for future distribution, which will decrease their borrowing costs even more.

“While 2021 was filled with many global challenges, Texas Farm Credit and its members were blessed to achieve a number of major milestones and accomplishments,” said Mark Miller, Texas Farm Credit chief executive officer.

“We’re thankful to have been a trusted partner through it all, providing the financial resources needed to get crops out of the ground, deliver livestock to market, help ag business thrive, and fulfill dreams of land and home ownership.”

Texas Farm Credit’s earnings totaled $45.5 million in 2021, a record year for net earnings. It exceeded the financial projections in its business plan by more than $11.4 million. The lending co-op finished the year with $2.1 billion in assets and its highest new loan volume ever. Credit quality remained strong, with 98.4% of loans classified as acceptable or special mention.

Also in 2021, the rural lending co-op distributed $23.5 million in cash to its customers: a portion of its 2020 earnings in April, followed in December by earnings that had been retained as capital in 2013 to fund growth.

Texas Farm Credit is an agricultural lending cooperative that provides competitive rates, flexible terms, and personal service to farmers, ranchers, rural residents, and agribusiness firms from the Red River to the Rio Grande Valley. Not only does Texas Farm Credit finance a wide range of farming and ranching operations, it also offers home and rural real estate mortgage loans, as well as provides a variety of insurance services to its members. Headquartered in Robstown, Texas Farm Credit serves 100 counties and is part of the Farm Credit System, a nationwide network of rural lending co-ops established in 1916.

For complete financial reports and other information, visit

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