ROBSTOWN, Texas

Texas AgFinance, a rural lending cooperative serving central and south Texas, has declared a record $9.5 million patronage to its customers. This amount was based on the co-op’s solid 2012 financial results and was approved by the Texas AgFinance Board of Directors.   Customers will receive a check for their portion of a $3.3 million cash distribution in late April, as well as a statement detailing their portion of a $6.2 million allocation that may be eligible for future cash distribution subject to board approval.   Because Texas AgFinance is a cooperative, its stockholders share in its ownership and its earnings. When the lender does well, a portion of its earnings is returned to borrowers in the form of patronage.   “Patronage is a cornerstone of the co-op business model, and payments like this one reduce our customers’ cost of borrowing from Texas AgFinance,” said Mark Miller, Texas AgFinance chief executive officer. “We are pleased to share our success with them, and it’s one way we can say thanks to our borrowers.”   A part of the nationwide Farm Credit System, Texas AgFinance has financed agricultural operations and rural America since 1933. The co-op is headquartered in Robstown and has offices in Bandera, Brenham, Hebbronville, Pleasanton, Raymondville, San Antonio, Uvalde and Weslaco.