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GreenStone Announces Record Patronage Payout
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GreenStone’s board of directors recently declared the patronage payment, which represents 20 percent of the cooperative’s net earnings in 2011. The payment also brings the total amount of patronage paid to more than $108 million since the program’s inception in 2006.



More Than $23 Million Being Returned to GreenStone Customers


Tuesday, March 13 is no ordinary day this year – it is Patronage Day 2012. For the seventh consecutive year, GreenStone Farm Credit Services will return a cash patronage payment to customers with qualified financial products. This year’s patronage payment totals more than $23.3 million, making it the largest payout since the patronage program began in 2006.

“GreenStone enjoyed a record year in 2011 thanks to the success of our members across Michigan and Wisconsin,” said GreenStone President and CEO, Dave Armstrong. “We are pleased to be able to share that success in the form of patronage payments to our loyal members.

“GreenStone continues to operate as a sound and viable financial organization focused on serving our members needs now, and for generations to come, and that philosophy has allowed us to continue the patronage program for 2011.”

GreenStone’s board of directors recently declared the patronage payment, which represents 20 percent of the cooperative’s net earnings in 2011. The payment also brings the total amount of patronage paid to more than $108 million since the program’s inception in 2006.

“Eclipsing $108 million in patronage funds distributed is an enormous milestone and it speaks to the focus GreenStone has on our member base of more than 21,000 customers,” said Armstrong.

All GreenStone branches will be open during normal business hours on Tuesday, March 13; customers are invited to visit their branch to pick-up their patronage check. Those checks not picked up on March 13 will be mailed to customers the following business day.

The cash patronage paid to each customer will be based on the proportion of net-interest income earned during 2011 on his or her loan to the total patronage based net-interest income earned by the association.