October 16, 2020
Re: Continued Service and COVID-19 Response
Customer-owners and Industry Partners,
If you haven’t heard the exciting news, I am thrilled to be the one delivering the message on behalf of our Board of Directors.
Considering the lingering impact of COVID-19, the Board recently approved advancing a portion of the expected 2020 patronage refund in order to provide support to you, our customer-owners. Eligible borrowers will receive an advance on that expected payment equal to 50 basis points of their average daily loan balance through September 30, 2020.
We know the uncertainty and challenges of 2020 continue. Our goal is that this advance payment will provide you, our customer-owners, with the immediate support you need as we look toward the holiday season.
Our lobbies may be closed to visitors due to the pandemic, rest assured that we stand ready to work with you for all of your rural financing needs!
Thank you for your business and continued support.
Chief Executive Officer
Lone Star Ag Credit