Many farmers are facing a volatile agricultural marketplace, balancing potential tax reform, potential economic reform, and the ups and downs in commodity pricing. Focusing on things that are uncontrollable might make you want to pull your hair out, and while there are many things that are outside of your control, there are also items that each famer should focus time and effort on to set themselves up for success.

If you are not fully utilizing accounting reports to help guide your farming operation, stepping up your record keeping game can help you:

• Manage your business operation effectively.
• Manage your tax liabilities effectively (and with less stress).
• Make family living budget decisions more easily.

Accurate and up-to-date financial records demonstrate your commitment to knowing your numbers and providing accurate historical results, which lenders and other capital providers appreciate. It allows them to produce lending decisions in a quick and more seamless manner.

It’s no fun scrambling around at the end of the year catching up on your record keeping to determine what you need to buy for inputs or equipment to minimize tax liabilities. Keeping your accounting completed throughout the year allows you more time to plan and shop for the best prices on any necessary purchases.

A few key financial statements to produce include:

• Balance sheet – This is your financial position as of a point in time. It’s a nice measuring stick to look at year-over-year to check your financial health. You always want current assets and total assets to be increasing quicker than liabilities – this means you’re creating net worth from your farming operation.
• Income statement – This summarizes your revenue, expenses and other gains and losses over a specific period. It’s important to be consistent in the recording of revenue and expenses to the line items that you choose. A schedule F provides a good mapping structure to follow – unless you need deeper or more detailed information.
• Statement of cash flows – This shows where all of your cash is going from your deposits and disbursements.

Being caught up on your accounting allows you to produce these reports at any point in time during the year and compare yourself to prior years, which can be invaluable.

In addition to completing your accounting timely and routinely during the course of the year, you should also complete a budget and track actual performance versus your budget. A detailed and realistic budget is one of the most important tools for guiding your farming operation and providing the information necessary to operate within your family living means, handle upcoming challenges, and hopefully record profitable results. During the course of the year, you should continually refer to your farm’s budget as a way of measuring actual performance against expectations.

How can you know what’s possible financially in the future if you don’t understand the historical results you’ve posted? The first step in the budgeting process is to make sure you know where your money has gone historically.

A budget is a planning tool necessary for building a framework for your farming operation and its finances. Combining past trends with realistic forecasts for the upcoming year, a budget provides a detailed view of realistic revenue expectations and how those stack up against your anticipated expenses.

Budgets also help with setting goals and establishing priorities. Like any business, farmers should, at a minimum, look at their total farm operation each year and establish goals for the upcoming year based upon their best guesses of what will happen.

Goals should also be established for the upcoming year. Review income statement expenses line by line, including the reasons and rationale behind any expected change in your cost structure. Will expense line items increase by cost-of-living adjustments or much more due to inflation? Are you going to outsource less custom hire work? Do your rent agreements have escalations in the current year? Does ground you have rented each year no longer make sense given where commodity prices are at today and projected through the rest of the year?

Occasionally, farms will complete their budgets with multiple scenarios: worst-case, most likely, and best-case models are all frequently used. This helps farmers to mentally prepare for contingencies and identify potential changes from initial expectations.

For example, assume a budget accounts for $4.15 corn and $10.00 soybeans. What if prior to planting is completed, soybean futures prices have dropped drastically, and you now expect that your sales price per bushel will be $9.00? How would that affect your operation’s break-even price for your expected corn production? Let’s look:

You now need to sell your corn for $4.77 to break even. Is that possible, and if it is do you sell it all when you see that price available, or just a portion of it? If it is not possible, you’ll need to consider where are you at to budget on other financial statement line items and determine if you need to cut expenses elsewhere, or possibly tighten the family living belt.

You are only able to answer these questions and make educated decisions if you understand your numbers and are up to date on your record keeping (tracking actual revenue and expenses and comparing them to what was budgeted). This also helps to ensure your farm is sticking to its plans. Budgeting offers an important means of identifying problems and opportunities.

To learn more about recordkeeping and accounting, contact your CPA or a tax accountant at your local GreenStone branch. GreenStone offers a full array of accounting services for farmers and business owners.

To view the spring 2025 issue of Partners magazine in its entirety, click here.

Imagine wiring $50,000 for a new piece of farm machinery, only to find out the dealership’s email was a fake. Fraud like this continues to impact farms and businesses, and we expect it to strike harder than ever in 2025.

As your trusted financial partner, GreenStone is here to inform you to help you stay one step ahead of these scams. The Federal Trade Commission’s Snapshot of 2024 paints a stark picture: fraud losses hit $12.5 billion in 2024, with 2.6 million reports filed. Nearly 1 in 3 Americans—30 percent—fell victim, losing an average of $1,600 each. Imposter scams, often delivered through email, topped the list as the most reported fraud type.

At GreenStone, we want to help our customers be prepared to recognize and prevent these types of scams by providing the tools, resources, and knowledge needed to safeguard their financial legacy.

Phishing Scams and Wire Fraud

Wire fraud can drain your accounts in an instant, and with 2025 shaping up to be a peak year for scams, understanding the threat is critical. Fraudsters use phishing emails to impersonate trusted contacts—like loan officers or equipment dealers—and trick you into sending money to fraudulent accounts.

How These Scams Work

• Fake Emails and Urgent Requests: You receive an email that looks like it is from a legitimate source (title company, lender, real estate agent, vendor, etc.). The message claims that wire instructions have changed and provides a new account for payment.
• Professional Impersonation: Scammers manipulate email addresses and website URLs using characters that look nearly identical to legitimate ones. For example, replacing the letter “o” with the number “0” or using Cyrillic letters that resemble English characters (e.g., [email protected] vs. [email protected]). These attacks, known as homograph/homoglyph scams, can trick even the most careful individuals. Always verify suspicious emails by directly contacting the sender.
• Sense of Urgency: The email will pressure you to act quickly, warning that failing to send the payment immediately could result in delays, penalties, or even losing a deal.
• Funds Are Stolen: If you comply, the wired funds go to a fraudulent account, often overseas, making recovery extremely difficult.

Example

A farmer wiring funds for a new equipment purchase receives an urgent email from what appears to be the dealership, stating, “Our bank details have changed. Please wire funds to this new account.” Without verification, the individual sends the money only to discover later that the request was fraudulent and the money is unrecoverable.

How to Protect Yourself from Wire Fraud

• Verify Wire Instructions Over the Phone: Never trust last-minute changes to payment details sent via email. Call the known phone number of the recipient (not the one listed in the email) to verify any requested changes.

• Be Skeptical of Urgent Payment Requests: Scammers use pressure tactics to rush you into action. If a request demands immediate payment or threatens consequences for delays, take a step back and verify.

• Double-Check Email Addresses Carefully: Fraudulent emails often come from addresses that look nearly identical to the real sender. Look for small differences, such as extra letters, dashes, or misspelled names.

• Verify Bank Account Details: When you receive new payment instructions, confirm the details by calling a trusted phone number from an official website or prior communication. Never rely on contact information from an email requesting changes.

• Enable Multifactor Authentication (MFA): MFA adds an extra layer of security to your email and financial accounts, making it harder for scammers to gain access.

• Never Click on Suspicious Links or Attachments: Phishing emails often contain links that lead to fake login pages designed to steal your credentials. Always verify before clicking.

• Secure Your Email Account: Many phishing scams target email accounts because they contain financial communications and personal data. Regular password changes are no longer recommended unless a breach has occurred.
  • To check if your credentials have been compromised, visit HaveIBeenPwned.com.
  • If your email appears in a breach, immediately update your password with a strong, unique combination and enable multifactor authentication (MFA) for extra protection.

• Use Secure Banking Tools: GreenStone Farm Credit Services offers several secure banking solutions to provide added layers of protection:
  • Secure My Access Online Portal: Allows customers to receive and upload documents securely with GreenStone staff.
  • Advanced ACH: Customers can upload and verify their own ACH transactions to prevent fraud.
  • Positive Pay: Customers can approve draft payments in advance, ensuring only authorized transactions are processed.
  • Card Suite Lite App: Allows customers with disbursements cards to view transactions in real-time and shut off their cards immediately if they notice fraudulent activity.

What to Do If You Suspect Fraud

If you believe you have received a fraudulent request for payment, act quickly. Follow these steps to minimize potential damage:

1. Do Not Engage: Do not respond to the email, click any links, or download attachments.
2. Verify the Request: Call the individual or business using a trusted number (not from the email).
3. Notify Your Financial Institutions Immediately: If you have already sent funds, contact your bank right away. If caught quickly, there may be a chance to stop the wire transfer.
4. Report the Fraud: File a report with the Federal Trade Commission (FTC) at ReportFraud.ftc.gov, the FBI’s Internet Crime Complaint Center (IC3) at www.ic3.gov, and your local law enforcement agency.

Other Common Financial Scams to Watch For

Even if you do not fall for a wire fraud attempt, scammers continue to evolve their methods. Beyond phishing emails, be aware of these additional fraud types that could impact your finances.

• Late Changes to Payment Methods: Be suspicious if a company you regularly do business with suddenly changes their bank account details.
• Fake Equipment or Property Listings: Scammers post nonexistent farm equipment or real estate for sale and demand payment upfront before disappearing.
• Government Impersonation Scams: Someone claiming to be from the IRS, Social Security, or a lender asks for personal details or immediate payment.

Scammers often use fear and urgency to manipulate their victims. A good rule of thumb: If something does not feel right, take a step back and verify before acting.

Stay Vigilant, Stay Secure

Wire fraud and phishing scams are growing more sophisticated every year. However, by staying informed, securing your accounts with strong passwords and MFA, and leveraging GreenStone’s secure banking tools, you can significantly reduce your risk of becoming a victim.

Key Takeaways

• Always verify wire transfers by phone using a known number.
• Be cautious of last-minute changes to banking details.
• Look for email address red flags—even small differences matter.
• Use GreenStone’s secure online banking tools to reduce fraud risks.
• When in doubt, verify directly with your financial institution.

GreenStone Farm Credit Services is committed to helping you protect your financial future. If you ever have concerns about fraud or suspicious activity, contact us immediately. Together, we can keep your finances secure in 2025 and beyond.

To view the spring 2025 issue of Partners magazine in its entirety, click here.

What are the differences between a refinance and an interest rate conversion? Which option is best for you? How many times can you refinance or do an interest rate conversion? Learn more about the options available to you through both of these financial tools.

What is refinancing?

Refinancing means you are financing current debt(s) into a new loan. Typically, a refinance allows you to obtain a more desirable payment schedule to better meet the needs of your current financial situation.

There are a few extra steps involved in the refinance process compared to an interest rate conversion. Refinancing can require a new loan application, a credit report pull, updated financials (i.e.: balance sheet & tax returns, projections, etc.) and applicable loan fees such as an origination fee, appraisal fee, title policy, etc., and new loan documents. Refinancing can also take time to complete depending on the complexity of the refinancing request. Although there are some initial costs and time associated with it, the benefit of refinancing is the ability to adjust the structure of your loan agreement to match your current and anticipated future cash flow capacity of your farm business. Contact your loan officer to discuss the best possible options for your operation.

What is an interest rate conversion?

An interest rate conversion is the process of taking your existing loan and applying a new interest rate product to it. Compared to a refinance, there are only two requirements: a modest fee for the process and a signature on the conversion agreement document reflecting the interest rate product selected. There’s no need to submit updated financial information, we do not pull your credit report or require a new appraisal of the collateral pledged to secure your loan.

A rate conversion is a more streamlined and cost-effective process, as it requires a signature on the interest rate conversion document and a one-time fee for a lower interest rate. For example, say an original promissory note was written as a 20-year loan, you have made all your payments on time for the 3 years you’ve had the loan and interest rates have since declined. It is possible to convert this loan to a 17-year fixed interest rate product or a shorter term if you so choose. The conversion document will state your new interest rate, new payment amount and when the new payment amount will begin. Another perk is a rate conversion agreement can be completed online via DocuSign, providing a convenient option for you to sign from anywhere! There is no limit as to the number of times you can utilize this option.

GreenStone provides a unique opportunity for our members to convert adjustable and fixed rate loan pricing. The interest rate conversion feature of your loan agreement provides you with the opportunity to lower your interest expense in a declining rate environment. Members taking advantage of this option occurs when there is an opportunity to pay less interest over the remaining life of the loan and potentially pay it off earlier than expected.

Which option is best for you?

No matter which option you’re considering, it’s always best to speak with your financial services officer to discuss your operation and the financing options available. Working with your lender to determine the right time to use either of these financial tools is always the best idea. Reach out to your local GreenStone branch today with any questions on refinancing or interest rate changes!

This article was originally published in Michigan Farm News.

Whether you want to enhance your current home’s features with small upgrades, or are ready for a major transformation, there is no shortage of ways you can add value to your home! Consider these ideas when investing in your home, whether you are looking to attract buyers or have no plans of ever moving!

Small changes for a big impact

It’s easy to wonder which home improvements add the most value. There are plenty of minimal labor-intensive projects to start with! Small changes such as new fixtures in your kitchen or bathroom can help to elevate the space and give them an updated appearance. If you can, consider upgrading some of your appliances to more energy-efficient options. Refrigerators, washer and dryers, dishwashers, and even energy efficient toilets can all add to the overall value of your home.

Installing smart-home technology such as thermostats, security systems, and lighting can also be less labor-intensive ways to bring additional value to your home. These in-home systems allow you to control their settings remotely through a smart phone app or web interface, helping you maximize the energy efficiency of your home. Depending on the system you choose and its complexity, smart-home technology can vary from DIY-friendly to requiring professional installation. Whatever level of smart-home technology you’re considering upgrading your home with, it is sure to add to increase your home’s value.

When it comes to what adds value to a home, small details can make a big difference. One easy swap is replacing old fluorescent light bulbs with LED. Not only are LED bulbs more energy efficient, but they have a longer life span and will save you money in the long run as well. Adding strip lighting in your garage or any other areas of your home that are not well lit is another fool-proof way to subtly up the value of your home’s appearance.

Lastly, there’s nothing like a fresh coat of paint or an accent wall to liven up your space. However, if you’re looking to increase your home’s value solely for resale purposes, sticking with neutral colors is always the best idea!

Moderate home improvements that stand out

For a more hands-on project to make a big visual impact on your home, consider a kitchen or bathroom renovation. Upgrading the cabinets and appliances in your kitchen is guaranteed to give the space an updated appearance. The same can be said for your bathroom. Converting your old bathtub into a walk-in shower or your half bath into a full are two major upgrades you can make that will improve the overall value of your home.

Replacing the carpeting in your home or opting for tile or laminate flooring is another way to achieve that “new home” look. Luxury Vinyl Tile flooring or LVT is a durable and affordable option and resembles the look of real hardwood, tile, or stone flooring.

Consider adding to the curb appeal of your home through a new front door, updated garage doors, new windows, or even a fresh coat of paint to really make your home look good as new! If you’re looking to update your current outdoor spaces, landscaping is a great way to complement the outward appearance of your home and help it stand out.

Major upgrades with a wow factor

If you’re looking for a major upgrade to transform your home and increase its value, there are plenty of options to consider. If possible, converting your space into an open-concept layout is a big way to completely change your home’s atmosphere and give it a modern feel.

A roof replacement or new siding are also major updates that not only are attractive to potential buyers but are a worthwhile investment in the life of your home. If you live in the country, a metal roof may be worth consideration for its durability to the elements and debris. If you live out in the open where there is plenty of sun, solar panels may also be another upgrade to consider.

To enhance your outdoor living spaces even more, adding on or updating your deck or patio will make them feel like a brand-new space!

Maybe you’re thinking of adding on to your home to make your current home match your vision of your dream home. Adding an addition, whether that’s an extended living space or another bedroom and bathroom, has the potential to take your home to another level. Other renovations that increase home value include turning your unfinished basement into a living space complete with egress windows to add to the total square footage of your home.

GreenStone is here to support you through the construction process and offers DIY loans that allow you to be hands on with your home projects and manage them yourself. If you have any questions on how GreenStone can help you make your country home dreams a reality, don’t hesitate to reach out to your local branch!

Interest in Home Gardening on the Rise

Interest in home gardening continues to rise despite concerns about the economy and inflation, according to the 2025 Axiom Gardening Outlook Study

However, it is tapering off, as survey respondents saying they spent more time gardening in 2024 dropped 10.9% from last year. In addition, respondents planning to plant more and expand their gardens in 2025 dropped 8.8% from last year.

“This is the first year since we launched the Axiom Gardening Outlook Study that we’ve observed decreases in time spent gardening and plans to plant more and expand their gardens,” says Mike Reiber, founder and CEO of Axiom Marketing, a Minneapolis-based marketing firm serving horticultural, agricultural, and home improvement markets.

“These decreases indicate a potential leveling that merits further investigation,” he adds. “Despite these decreases, however, 4 in 10 respondents say they plan to spend more money on gardening in 2025 and plan to spend more time gardening in 2025.”

Michigan’s greenhouse industry, which largely consists of annual bedding plants – pots, flat containers and hanging baskets – is dominated by wholesale sales through brokers who supply retailers.

Wisconsin greenhouse growers focus more on regional retail sales. But some Michigan growers also ship to northeast Wisconsin.

Consumers Growing their own Food

Overall, the future of the nursery industry locally appears to have a positive outlook, with expected growth, active industry collaboration, and a focus on innovation and sustainability, according to the study. However, nurseries will need to navigate challenges such as thin margins and changing labor laws while capitalizing on opportunities in sustainable practices and market expansion.

“I don’t think anybody’s projecting a great year, as the outlook is shifting into a new reality of post-pandemic sales – more like 2019 levels,” says Sara Trattles, Vice President of Commercial Lending for GreenStone Farm Credit Services.

The industry benefited in 2020 when Covid-19 forced people to stay home, creating a surge in lawn and garden spending. As most of the country shut down, garden centers (after some legislative debate) were allowed to open. Working from home, consumers had a larger discretionary income amplified by government stimulus money.

The disruption of the supply chain and the availability of products also enticed some consumers to grow more of their own food.

“That trend definitely flowed into 2021 and probably 2022 with people starting habits while being at home more,” Trattles says. “It’s really hard to say if people will pull back and spend less as we head into the planting season.”

The new administration’s focus on health and wellness may offer a glimmer of hope, she says. “Consumers are finicky, but I do think it’s plausible — whether it’s gardening in the ground or container gardening – that it could be beneficial for the industry.

Nurseries to Experience Continued Growth

For the nursery industry, Trattles is cautiously optimistic. “It seems like the nurseries I work with are filling up on inventory, as they’re having a lot of calls from contractors, who are just starting the season.”

New builds, with budgets already approved, will be more reliable customers than those who are considering updates, she notes. “Housing numbers are low, and should they continue with high-end landscaping, or can they get by with less? Long-term prospects are uncertain due to economic fluctuations.”

A lot of people are trying to decipher what President Trump’s new tariffs will mean to the economy in general.

Michigan is the third largest producer of floriculture crops and the largest young plant producer in the United States with a total crop value of $711 million, according to U.S. Department of Agriculture, National Agricultural Statistics Service, 2022. The state also ranks third in the U.S. for Christmas tree production and 16th in national nursery stock sales (2019), bringing the total combined value of all ornamental crops to $850 million.

Horticulture production in Wisconsin, which includes greenhouses, nursery, and floriculture production, is composed of some 1,508 enterprises distributed across the state, according to Steven Deller, Department of Agricultural and Applied Economics, and the Center for Community Economic Development at the University of Wisconsin—Madison. Total sales in 2017 were about $195.6 million employing 2,000 people with total payment to workers (inclusive of proprietor or owner income) of $112.9 million. Most are smaller or mid-sized operations, with 55.2% having sales of less than $50,000 and 6.2% have sales of greater than $500,000.

For the U.S. greenhouse industry, according to the study, robust growth is expected over the next decade. With greenhouse market size reaching $60-70 billion by the mid-2030s, the industry presents significant opportunities for investors, entrepreneurs, and existing operators.

GreenStone Farm Credit Services is pleased to announce the release of its 2024 annual report themed “Strength in Partnership.” The report details the growth, resilience, and strength of the relationships the cooperative fosters with its member-owners.

Included in the report are several milestones, including a record year for net income at $297 million, the second consecutive year of a 96% customer satisfaction, and another $120 million returned to GreenStone’s members in the form of Patronage marking over $1 billion total returned over the past 20 years.

In addition to the solid financials, under the theme “Strength in Partnership,” the report shares the stories of a longtime member and dairy farmer who has received Patronage returns for all 20 years of the program, as well as a second-time home construction customer with GreenStone as he sets out to build his family’s forever home.

GreenStone’s partnership with its members is built on strong relationships, which is highlighted through a story of GreenStone’s Hart branch sharing their dedication to the success of their customers.

“We are thrilled to report a number of milestones this year, underscoring the strength of our cooperative system and the valuable relationships we have with our members,” said CEO and President Travis Jones. “Our team prioritizes maintaining an open line of communication with our customers so we can continue to provide our members with solutions tailored uniquely to them.”

GreenStone’s return on assets reached 2.2% as a result of its record-breaking net income, and its loan portfolio showed solid growth in 2024. The cooperative’s credit quality also remained strong. This continued performance is a testament to the success of GreenStone’s members over the past year.

Other financial highlights in this year’s report include:

• Net Income: $297 million
• Total Assets: over $15 billion
• Total Loan Growth: 5.9%
• Patronage Paid: $120 million

“The strength of our partnership with our members propels us forward, as our customers remain resilient despite experiencing rising inflation, interest rates, and overall higher input costs,” said Executive VP and Chief Financial Officer Kim Brunner. “We are committed to continuing to grow alongside our members.”

The full report can be viewed here.

While many of his peers are choosing a college or corporate career path – Elijah Wackler opted to go all in on his dreams with hands-on experience. Nestled in Oakland County with limited space, Elijah says, “I am trying to learn the different areas of agriculture like a trade.”

Growing up in an urban area there was a limited amount of opportunities to learn about agriculture. In eighth grade he decided to get involved with a local 4-H club that became available. He began exhibiting educational displays such as Plant Science, and Wildlife Studies, among other divisions at the county fair and got deeply involved with his local 4-H community – this experience encouraged him to continue to explore the different avenues that the agriculture industry offers and where his dream began to flourish!

Currently Elijah works for a Christmas tree farm and a local nonprofit organization that focuses on agricultural education. In his free time, he is getting creative with different types of hobby micro farming. Micro farming is taking agriculture to the smaller scale providing an ample opportunity to have fresh food without a plot of land. He noted, “It is very different, working with raised beds and pots instead of just planting into soil.” For his micro farm, Elijah focuses on trying different practices with a variety of plants to see what could work well in the future.

While gaining experience and looking for more ways to expand his knowledge Elijah applied for GreenStone’s CultivateGrowth Grant. This grant allowed him to find an online or in-person educational course he was interested in! The CultivateGrowth grant can be used by a young, beginning, or small farmer who lives in Michigan or northeast Wisconsin for an agriculture program/event anywhere. Elijah used his grant to take an online u-cut flower course through Floret Flower Farms out of Washington.

This course was a perfect fit for what he was looking for as it allowed him to keep course content forever, highlighted how expansive the floral industry is, and gave real examples of how to have a u-cut flower operation. Elijah hopes to build on this knowledge as he builds his dream of owning an agritourism operation focused on flowers, pumpkins, apples, and Christmas trees! While the agriculture industry is expansive, he is taking every opportunity to dive deeper in order to reach his goals.

It started as a dream to own a Christmas tree farm and has since expanded into so much more. This course is just the start for Elijah, and the possibilities are endless as he continues to pursue his passion in agriculture. GreenStone aims to provide opportunities for all young, beginning, and small farmers with our CultivateGrowth grant. To learn more about our CultivateGrowth grant program, click here.

As we consider our outstanding results of 2024 and the progress that has set the road map for the future, we are grateful for the trust and partnership our members place in GreenStone. Together, we navigate the opportunities and challenges because it is a joint commitment and focus that drives our cooperative. Our commitment to serving you is at the heart of what makes this cooperative beat strong.

Recognizing the Strength of Partnership in 2024

This past year marked another milestone for GreenStone. We are proud to share 2024 was a record year, with net-income reaching $297 million resulting in a strong return on assets of 2.2%. We continue to be one of the most efficient stewards of capital in the Farm Credit system. In addition, Credit quality of the portfolio is another measure that we watch closely, and we are pleased to end the year well positioned to support our customers in whatever may lie ahead. These achievements underscore the trust our customers have in us and position us with the financial stability to support your success in the future.

Beyond the financial numbers are the people at the heart of what we do – our members and our employees. We are very proud our customers are 96% satisfied with GreenStone, 74% of them being very satisfied. That result is a multi-year trend which tells us our people – our employees – are living our CoreFour values every day. Our success is tied to the success of our members, and our team is here helping them evaluate options, realize dreams, and emerge even stronger. A particular highlight is our Hart branch team, noted later in this publication, which achieved a remarkable milestone of 100% customer satisfaction for the third consecutive year. (We have nine other branches that were able to achieve a 100% score in 2024!) As you’ll also read in a member story on the next pages, this achievement reflects the dedication and commitment of our employees, who embody GreenStone’s relationship-based values in every interaction.

Celebrating the Power of Partnership through Patronage

We mentioned a year of strong results and milestones, and we’re excited to celebrate an extraordinary one with our Patronage program putting more than $1 billion dollars back in our members hands – $1 BILLION! 2024’s strong financial results allowed the cooperative to again return $120 million of our net profits back to our members, resulting in $1.08 billion being returned over the 20 years of the Patronage program.

Personal relationships and partnerships with our members define GreenStone. They are what make this partnership pay, not just in dividends but in the shared journey of building thriving businesses and strong communities. It’s the result of a million conversations and dreams, the handshakes and smiles shared, and the relationships built that we’ve been lucky enough to be a part of for over a century. Just like the one you’ll read about in this annual report, a longstanding Wisconsin member who has realized the benefit of partnership on his farm all 20 years of Patronage returns. The ability to give back through Patronage is a direct result of your success and the trust you place in us. Together, we have created a legacy of growth and resilience.

Benefiting through Partnership with our Communities

Beyond providing credit and financial services, GreenStone remains deeply connected the communities we serve. In 2024, our outreach efforts included thousands of volunteer hours, significant financial contributions, and partnerships with numerous organizations as highlighted in the coming pages. Through these efforts, we provide resources, training, and support that empower our customers to navigate economic cycles and business challenges successfully; engage our youth and teach skills as the foundation for our future leaders, neighbors and customers; offer specialized programs, flexible financial solutions, and tailored guidance designed to help young, beginning and small farmers establish and grow their operations; and partner in our communities to build the programs to strengthen our vital rural communities.

Preserving Partnerships for the Future

As we move through 2025 and beyond, we are mindful of the cyclical nature of the economy. While profitability may become more challenging for some, opportunities remain, including our opportunity to strengthen relationships with customers and help them navigate the challenges, just as we have before. With proactive and transparent communication, the cooperative’s strong financial base and proven experience has us prepared to help customers make informed decisions. Partnership with our cooperative is about more than a loan or service, it’s about a relationship and commitment that stands strong today and for the days to come!

At GreenStone, our passion for supporting our rural communities runs deep – they’re where we live, work, and play too! Our commitment to watching local farmers, families, and industry organizations remain strong and resilient, can be seen in the partnerships and collaborations we participate in year-round. We partner with countless organizations who are dedicated to seeing the ongoing success of agriculture. A few of those partnerships and organizations include both Michigan Farm Bureau and Wisconsin Farm Bureau, Brown County Dairy Promotion’s “Breakfast on the Farm”, and numerous Michigan State University Extension Programs. Whether it be to support young, beginning or small farmers, multi-generational farms, or the next generation, all provide unique partnership opportunities for education, resources, engagement, and support, making an impact on our rural communities.

GreenStone is proud to support the future of agriculture through our partnership with Michigan Farm Bureau and Wisconsin Farm Bureau. With members across both states and a mission to promote the advancement of agriculture, Michigan and Wisconsin Farm Bureaus understand the resilience required of young, beginning, and small farmers to navigate today’s agricultural landscape, and provide support through a wide variety of educational resources and programs.

Our commitment to supporting the next generation of agriculturists starts with providing education to communities and our local youth. Through our partnership with Brown County Dairy Promotions in Wisconsin, GreenStone is proud to sponsor their annual Breakfast on the Fam event, which provides an opportunity for families to tour a local farm, learn more about where their food comes from, and enjoy a tasty breakfast of course! Each year the Breakfast on the Farm event is hosted by a different Wisconsin farm family which provides a unique experience for participants to learn how different farms operate. Establishing a connection to agriculture at an early age is paramount to educating our youth and supporting the next generation of farmers or agribusiness owners!

Yet another way GreenStone remains committed to supporting the resilience of the agriculture industry is through our partnership with Michigan State University’s Extension (MSUE) Programs. Designed to bring vast knowledge and resources directly to individuals, communities, and businesses, the MSUE programs cover a wide variety of topics such as agriculture, businesses, food and health, natural resources, and more. Our partnership with MSUE continues to provide updated education and resources to the farmers and agribusinesses who need them.

At GreenStone, we recognize if we want to help build strong and resilient communities, it starts with contributing our own time and talents. Each year, GreenStone team members across our locations participate in events and organizations that enhance their local communities. In 2024, we proudly contributed over 8,900 hours and $1.2 million in financial support. This time spent includes participation in youth educational events; agriculture-advocation and producer education; young, beginning and small farmer resources; and support for our rural communicates; totaling over one whole year’s worth of time volunteering to create more resilient communities!

GreenStone is dedicated to making a meaningful impact through education as well. In 2024, we awarded $60,000 in scholarships to students pursuing careers in agriculture. This brings our total scholarship contributions since 2010 to over $500,000. By investing in the education of future agricultural leaders, we’re not only supporting individual aspirations but also ensuring the sustainability and growth of our communities and the agricultural industry.
Throughout the year, GreenStone has prioritized resilience in our outreach initiatives. By partnering with organizations focused on community and industry advancement, we are investing in a more sustainable future for the agriculture industry. Through our collaboration we are not only supporting our rural communities but also empowering the next generation of farmers to thrive in an ever-evolving landscape.

In the small town of Hart, Michigan, you’ll find a GreenStone team with a whole lot of heart for the community they serve. Although there may be only five members of our GreenStone team based in our Hart branch, it’s clear each of them has a real passion for supporting the livelihoods of those in their rural community.

The remote town of Hart, Michigan has a population of just over 2,000 people and is nestled on the west side of the state along the shores of Hart Lake, and just miles from Lake Michigan. Home of the National Asparagus Festival, Hart is located within Oceana County, which is the Asparagus Capital of the World. Crops such as corn, soybeans, cherries, vegetables, and hay are also predominant in the area.

Despite what you may consider a smaller team; the Hart branch has achieved a large feat when it comes to the relationships they have with their customers. Every year, GreenStone sends out an annual customer satisfaction survey to its members asking for feedback on their experience working with GreenStone as a whole and its individual branches. In 2024, the Hart branch demonstrated resilience in the face of challenges by achieving a 100% customer satisfaction score three years in a row.

The team’s values are reflected in this score as all five members of the team were adamant the customers they serve on a regular basis were the reason why they loved their job so much. “We’re very familiar with the people we serve and look forward to seeing them regularly,” says Loan Processor Charity Neinhuis. “Growing up in this community, and as someone who has family in agriculture, I know how important the services we are providing are, and how much local farmers rely on us. It’s something that’s close to my heart, and we treat our customers like family, because that’s what they are to us.”

Kayla Beckholt, who is also a Loan Processor at the Hart branch, shared her reason for why they’ve been able to establish strong relationships with their members. “The atmosphere at the Hart branch is why we’re able to establish such great connections with our customers and really get to know them. A lot of our customers prefer to come into the branch to make their payments or have a conversation with one of us, and I think that in-person interaction is a big part of why we’ve achieved 100% customer satisfaction.”

Senior Financial Services Officer Devon Feldpausch also shared his thoughts on why the branch has maintained a high rating of customer satisfaction. “The unique part of working in a smaller branch is the support we provide for each other in addition to our customers. There are times when we lean on each other and help each other in order to make something happen. We all have learned a lot that way, and I think it just goes to show what we’ll do to go the extra mile for our customers.”

Devon has led by example time and time again when it comes to going above and beyond for our customers. Check out the story here learn more about the relationship he’s built with GreenStone customer Kol Gjokaj throughout his recent home construction project.

Another testament to what makes the Hart branch special? Just ask Senior Financial Services Officer Kimberly Sadler, who has worked there for the past 17 years. “Throughout my time here I have really gotten to know our customers, what their goals are and what they’re working towards. They are resilient and continually meet challenges head on. Being able to support them and play a small role in helping them achieve their goals is very fulfilling to me.”

The Hart team demonstrates GreenStone’s CoreFour Values of putting customers first and getting involved in their rural community in everything they do. One thing is for certain, what they may lack in the size of their team, they make up for tenfold times in heart.