March 2009 –Legacy Ag Credit, ACA is pleased to announce 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.
The Associations Annual Stockholder Meeting will be held Monday, April 20, 2009, at 6:30 p.m. at the Canton Civic Center in Canton, Texas. Please come out and visit our employees and directors. We look forward to seeing you there.
