March 2009 –Legacy Ag Credit, ACA announced a cash patronage payout based on the 2008 earnings.  Due to the financial success of the association in 2008, the board declared a cash patronage payout of $1 million.

The directors and staff of Legacy continually seek opportunities to benefit our stockholder-borrowers.  As in prior years, the 2008 Association earnings were used to help reduce net borrowing costs to our borrowers. This cash patronage reflects an approximate 35 basis point reduction in the effective borrowing rate of an average borrower for 2008.

In 2008, Legacy Ag Credit had an outstanding year in new loan business. Our strong financial results reinforce our philosophy of maintaining a strong Association, while at the same time offering you a variety of products and services. We will continue our commitment to provide value for Association borrowers.

This cash patronage reflects an approximate 35 basis point reduction in the effective borrowing rate of an average borrower for 2008.