What does it mean that Texas Land Bank is cooperatively owned?
Everyone who obtains a loan through Texas Land Bank becomes an owner of the association through the purchase of stock equal to two percent of their loan amount with a maximum stock amount of $1,000. Funds for the stock can be included in the loan. Ownership of this stock provides you the right to participate in the business affairs of the association, including election of the board of directors. Traditionally, borrowers are paid patronage and/or dividends, which further reduces the cost of borrowing for our customers.
