Louisiana Ag Credit customers recently received patronage refund checks totaling $250,000. The board of directors approved the patronage payment based on the association’s 2008 earnings.

This was the fifth consecutive year that the lending cooperative has returned a cash patronage to its borrowers, bringing its five-year patronage total to $1.5 million. This year’s patronage checks were mailed to customers in late March.

“Patronage is an important part of doing business with Louisiana Ag Credit,” said Jim Smith, Louisiana Ag Credit chief executive officer. “As a cooperative, we are owned by our borrowers. Every year, the board reviews the financial results and decides how much of the association’s earnings need to be maintained as capital to fund growth and operations. The rest is returned to our borrowers.”

Louisiana Ag Credit is a rural lending cooperative that specializes in loans for agriculture, rural real estate, country homes and agribusiness. The cooperative is headquartered in Arcadia and has field offices in Farmerville and Shreveport. Together, the three offices serve 11 Louisiana parishes.