Central Texas Farm Credit Returns Customers $7.9 Million | News
EARLY, Texas — Central Texas Farm Credit returned a $7.9 million refund to customers in mid-March, thanks to the cooperative’s strong financial results in 2021.
“At Central Texas Farm Credit, our goal is to provide exceptional customer service at competitive rates,” said Jimmy Chambers, Managing Director of Central Texas Farm Credit. “Our rebate program is the icing on the cake and what sets us apart from other lenders. The more we earn, the more we can give back to our customers. We are pleased to announce that 2022 marks the 28and consecutive year, we have given money to our member-borrowers.
Central Texas Farm Credit retains only the portion of its income necessary for growth and stability. It pays the rest to the members via its sponsorship program. The rebate will reduce the effective interest rate paid by rebate-eligible borrowers in 2022 by an average of 1.5 percentage points.
“The referral program is unique to co-ops and a clear advantage of doing business with us,” said Robby Halfmann, chairman of the co-op’s board. “Our patronage program is the engine of our business model and one that our board, management and staff focus on year-round.”
Central Texas Farm Credit provides financing for all types of rural real estate, including farms, ranches, rural homes, and land. The lender also finances livestock, equipment, and working capital needs for farmers, ranchers, and agribusinesses. Part of the National Farm Credit System, it is headquartered in Early and has branches in Brady, Coleman, Comanche, Early, Haskell, San Angelo, and San Saba.
For more information, visit www.ranchmoney.com.