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GreenStone to Pay 26.5 Million Back to Customers
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On March 19, GreenStone customers from around Michigan and northeast Wisconsin are invited to visit their local GreenStone branch to celebrate Patronage Day, and collect their portion of the cooperative’s $26.5 million 2012 patronage payment.



More than Loans: GreenStone to Pay $26.5 Million Back to Customers


Does your lender pay you a portion of their net earnings for simply doing business with them? For GreenStone customers, the answer to that question is yes.

In fact, on March 19 many GreenStone customers from around Michigan and northeast Wisconsin will visit their local GreenStone branch to celebrate what is known as Patronage Day, and collect their portion of the cooperative’s $26.5 million 2012 patronage payment.

“The agriculture industries in Michigan and Wisconsin again had an exceptionally strong year in 2012,” said GreenStone President and CEO, Dave Armstrong. “The outstanding year the majority of our members experienced allowed us to allocate more than $26 million – 21 percent of our net earnings – back to them in the form of a patronage check.”

This year’s patronage payment of $26.5 million represents the largest payout since the inception of the cooperative’s patronage program in 2005. During the course of the program, GreenStone has paid more than $134 million in patronage to members with eligible financial products.

“Putting more than $134 million directly back into the rural communities we serve through our members over the last eight years is something everyone at GreenStone takes a great deal of pride in,” said Armstrong. “Whether our members use their patronage payment to support a local civic group or charity, invest in growing their business, save it for a rainy day – or not so rainy day – those funds ultimately end up impacting their community in a positive way.”

All GreenStone branches will be open during normal business hours on Tuesday, March 19; customers are invited to visit their branch to pick-up their patronage check. Those checks not picked up on March 19 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 2012 on his or her loan to the total patronage based net-interest income earned by the association.