You’ve made the decision to build your home. Now it’s time for all the decisions that come with the home construction process. From the overall architectural structure down to the knobs on your kitchen cabinets, and everything in between, there’s a lot to think about! Who will be with you every step of the way throughout the building process?
At GreenStone, we specialize in both fully contracted and DIY construction loans, where you have the ability to act as your own general contractor. If you’ve decided to go the fully contracted route, here are the most important questions to ask when choosing a builder.
Who do you know already?
Although you can always ask friends and family for their recommendations when selecting a builder, don’t hesitate to do more research as well. When looking into how to find home builders, ask yourself what style of homes you admire and take note of what’s being built in your area. Don’t be afraid to ask people in person, on your community message boards, and in your neighborhood who they would recommend for a builder as well. If you keep hearing the same names repeatedly, take the time to do a little research and see how they’re conducting their business. Once you do contact someone, you can always ask for references.
What style of home do you want?
If you have a particular type of home in mind such as a ranch, two story, full, partial, or walk out basement, you’re going to want to work with someone who has experience with that style of home.
After researching, you’ll find out what your builder specializes in. All builders should be comfortable with you touring homes they’ve built in the past. You can really get a feel for the house and the builder once you’re standing inside one looking at the bones of the structural support, quality of craftmanship in the trim, and special touches in the finishes being used.
How much does the builder cost?
There’s no point in getting too invested until you’re sure your budget aligns with the cost of your builder’s services. Some builders specialize in starter or first-time buyer homes, some in mid-range pricing, and some in the high-end price point. Target a builder who specializes in the same kind of project you are looking for. Plus, you should work with them on a warranty that also makes sense for you.
Is the builder properly licensed and insured?
Before selecting who you want to hire to build your home, it’s very important to make sure they are properly licensed and insured. Many reputable home builders will voluntarily provide their license and insurance information as a part of their initial consultation or proposal. However, if the builder you are considering working with does not give you this information right off the bat, don’t hesitate to ask for it.
A few examples of what to ask your potential builder to include:
- A builder’s license, to show they are legally authorized to build homes in your area.
- General liability insurance to cover any potential accidents or damage to your property that may occur on the job site during the construction process.
- Worker’s compensation or subcontractor insurance to cover medical expenses of the builder’s employees or other subcontractors if they are injured on the job site.
- Any home warranty the builder may offer to cover repairs and defects after the home is built, and the length of the warranty.
What kind of working relationship fits your needs?
Consider if you are the kind of person who wants to be on site talking things over with the builder, maybe even getting your hands dirty, or would you prefer a hands-off approach? Based on your answer, you’ll know how to proceed with the builder and if you want to fully contract out the home, act as your own general contractor, or something in between.
You are also going to want someone who you’re comfortable with, so discuss these items with your builder up front to be on the same page before the building process starts. Overall, the right builder for you will bring your vision to life, within your budget, and deliver the quality of service you’re expecting. Choosing the right builder is a big step forward in creating and moving into the home you’ve always dreamed of!
Don’t hesitate to reach out to your local GreenStone branch, our team would be more than happy to answer any questions you may have!
Tax season is in full swing! At GreenStone our tax and accounting interns have the unique opportunity to pursue their passions while getting hands-on tax experience in a seasonal role from December to April.
Our 10 tax and accounting interns have been spending their time looking over customers’ income and expense documents. Day-to-day they help complete tax returns for clients as well as prepare 1099s and W-2s. Our interns work directly with our tax accountants, assisting in any other related duties that may arise. At GreenStone, these students are gaining exposure to professional projects and experiences that align with their career goals.
Meet this year’s interns below!
Valeria Camarillo
College: Hope College
Major: Public Accounting, Minor: Spanish
What drew you to intern with GreenStone: “My interest in learning more about agriculture drew me to GreenStone. This interest sparked after meeting an incredible family of Latino farmers in Michigan that demonstrate a strong work ethic and true passion for what they do. As a college student pursuing a career in accounting, I thought that this would be the perfect internship to apply for.”
Ingrid Cruz
College: Grand Rapids Community College
Major: Accounting
What drew you to intern with GreenStone: “This is my second year at GreenStone, what drew me back is Shawn wanting me to help her again. Working with numbers makes me happy, especially with the positive environment at GreenStone.”
Dylan Carper
College: Western Michigan University
Major: Finance
What drew you to intern with GreenStone: “Being able to stay local and close to home and to be able to jumpstart my career at a great and well-known place.”
Kylie Spicer
College: Central Michigan University
Major: Accounting, Minor: Information Systems
What drew you to intern with GreenStone: “Working with farmers.”
Brian Lapetina
College: Western Michigan University
Major: Accounting
What drew you to intern with GreenStone: “I previously had another internship here, and I wanted to learn more about the tax code and agriculture.”
Joe Novelli
College: Grand Valley State University
Major: Accounting; Marketing
What drew you to intern with GreenStone: “I met someone at a job fair and have the opportunity to learn new systems.”
Haiming Gao
College: Western Michigan University
Major: Accounting
What drew you to intern with GreenStone: “It could help me better understand my career and pursue an interest in agriculture.”
Dayna Vander Heiden
College: University of Wisconsin-Oshkosh
Major: Accounting; Finance
What drew you to intern with GreenStone: “GreenStone’s drive to help their local farming community.”
Nolan Stump
College: Central Michigan University
Major: Accounting
What drew you to intern with GreenStone: “Learning how accounting is used within agriculture.”
Michael Wahl II
College: Mid-Michigan Community College
Major: Accounting
What drew you to intern with GreenStone: “A chance to expand upon my resume and gain real world experience.”
We may be well past the time of year to make New Year’s resolutions, but it’s never too late to make goals for the year ahead, especially when it comes to improving your record keeping practices!
For those of you that are not fully utilizing accounting reports to guide your farming operation – I challenge you to make it one of your goals for your operation this year.
Up to date records allow you to:
- 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 records also demonstrates your commitment to knowing your numbers and providing accurate historical results, which lenders and other capital providers appreciate because it allows them to produce lending decisions in a quick and seamless manner.
It’s no fun scrambling around at the end of the year catching up on your record keeping trying to find out what you need to buy for inputs or equipment to minimize tax liabilities. Keeping your accounting up to date throughout the year allows you more time to plan and shop for the best prices on any necessary purchases.
In addition to completing your accounting in a timely and routine manner throughout 2025, you should also complete a budget for the upcoming year. Now is a great time to take financial measure of how your farming operation ended the previous year and to also establish your goals for the new calendar year.
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 means, handle upcoming challenges, and hopefully record profitable results. Throughout the course of the year, you should continually refer to your farm’s budget as a way of measuring 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. Know your historical results!
A budget is a planning tool necessary for building a framework for your farming operation and its finances. A budget combines past trends with realistic forecasts for the upcoming year and 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 preliminary assessment of what could happen.
Goals should also be established for the upcoming year. Review 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 that 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 identifying potential changes from initial expectations.
For example, assume a budget accounts for $4.15 corn and $10.00 soybeans. What if, in the middle of the year, soybean 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?
You now need to sell your corn for $4.77 to break even. Is that possible — if so, do you sell it all when you see that price available? A portion of it? If not possible – where are you at to budget on other financial statement line items? Do you need to cut expenses elsewhere? 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 helps to ensure that your farm is sticking to its plans. Budgeting also offers an important means of identifying problems and opportunities.
If you are interested in learning more about anything you read within this article, contact your CPA or a local GreenStone branch. GreenStone offers a full array of tax, accounting, and payroll services for farmers and agribusinesses.
This article was originally published in Michigan Farm News.
Are you a young, beginning, or small farmer, looking to develop your dreams further? GreenStone’s CultivateGrowth program can be the right fit for you.
Devon Rosebrugh, a Financial Services Officer in Traverse City, said “I’ve seen the program be so beneficial for folks who just want to go out and get these certifications or even just learn a little bit more about the industry they’re a part of.” Like Devon said, just a little bit of growth can propel any operation forward.
Each year GreenStone awards grants up to $1,000 for current customers and up to $500 for non-customers. Devon has seen grants used for cider making, business certifications, or even GreenStone’s tax and accounting services. To use the grant, it must fall under our intended use categories like agricultural education events, first time use of GreenStone resources such as tax services, or non-GreenStone services like farm consultants. The grant program offers a multitude of different opportunities tailored to fit exactly what you and your operation are looking for.
GreenStone has also designed an emerging loan program for producers. This program is useful when it is not cost-effective to obtain an FSA guarantee, or you do not have a personal guarantor readily available. This program can offer up to $100,000 in operating loans and $100,000 in long-term financing. Having an emerging loan and attending educational programs or events can bring down your interest rate by 0.50% upon completion!
We know some of the most valuable education can come from those around you. That’s why we also have an 18-month mentorship program where a mentor and mentee are placed together to learn from one another. As a mentee, you can have the opportunity to learn key industry dynamics and networking with many individuals in your same industry. This program includes site visits to both operations with multiple opportunities to connect and conversate. We are kicking off our next mentorship now and cannot wait to see what experience is gained!
Devon concluded, “After customers begin the different aspects of the CultivateGrowth program, I hear about how much it impacts them. It’s nice to have a program like that at GreenStone.” To learn more about our CultivateGrowth program click here.
Can you build your own home yourself with a DIY construction loan from GreenStone? The simple answer is yes! There are many different options when it comes to making your dream build a reality. Dive into the possibilities a DIY construction loan with GreenStone gives you when it comes to the building process.
With the housing market remaining competitive due to ongoing low inventory, more and more people are opting to build rather than buy. But what does a DIY loan mean exactly, and do you have to handle all the contracting and labor yourself? The answer is no! When it comes to a DIY loan with GreenStone, you can build your own home and decide how hands-on you want to be with the project. Whether you want to act as your own general contractor, subcontract everything out, or something in between, GreenStone’s team will work with you to customize your project to fit your needs.
Working with a Builder
There are many benefits of working with a builder on your home construction project. The first being your builder will act as your general contractor, meaning they will coordinate the delivery of materials needed, work with vendors, and schedule the timeline of the build. If you are someone with a busy schedule who won’t be able to put the necessary time into your home build project to have it completed by the deadline, then working with a builder on your home is the ideal choice for you.
Another benefit to working with a builder is the peace of mind that comes with having a professional source vendors and utilize their resources. Builders have a broad network of subcontractors at their fingertips, and that can be very useful should you need to find a new vendor unexpectedly!
One downside of working with a builder is having less control over the project. If you prefer to be very hands-on throughout the build process, working with a builder for the entire project may not be the best choice for you.
Acting as Your Own General Contractor
If you’re prepared to handle the challenges that could arise during the building process and are willing to take on the work yourself, you might want to consider acting as your own general contractor. If you have expertise in areas like construction plumbing, electrical work, or other skilled trades you can complete those tasks yourself in your new build while also contracting out other work to subcontractors. Whatever work you want to handle for your new build, it’s your call.
Most commonly, those who opt for a DIY build will handle a portion of the labor and then choose to contract out jobs they are less experienced in, such as the site preparation, septic work, or pouring the foundation, and focus on their skills such as finishing the interior of the house themselves.
As a general contractor, you need to consider whether you have the time and resources to manage all the subcontractors, handle payments, and oversee the construction loan. When you’re the general contractor, you’re solely responsible—no one else will step in to help.
You’ll be in charge of resolving any unexpected issues, such as when a subcontractor cancels or can’t make it to the site on time. If that happens, you may have to find and hire a new subcontractor quickly, which can take a lot of time and effort to coordinate. Do you want to do all, some, or none of the labor? It’s best to determine beforehand what you are willing to take on before you start the project.
Setting Yourself Up for Success
When it comes to a successful DIY home build, one of the most important things you can do to ensure a smooth project is give your lender as much information as possible as soon as you can. The more detail you can provide on your project and the more definitive decisions you can make upfront, the easier the process will be. Going into the project knowing the amount of bedrooms you plan to build, the square footage, and other details that affect the scope of the project will help your lender more accurately assess what your needs are.
GreenStone’s dedicated team of home construction experts are here to answer any questions you might have on a DIY construction loan! Contact your local branch today to get started on turning your dream floor plans into a reality!
This year marks an exciting milestone for GreenStone Farm Credit Services and its members on Patronage Day. For 20 consecutive years, the cooperative has given back a significant portion of its profits to its member-owners through the Patronage program. This year, GreenStone is set to return another $120 million, making total Patronage returns over the last 20 years over $1 billion back into the hands of GreenStone members.
As a part of a cooperative, members directly benefit from GreenStone’s strong financial position.
“Our members are the heart of our success. Patronage payments are a true reflection of this, as the more our cooperative grows, the more our members benefit,” says GreenStone President and CEO Travis Jones. “This year is a significant milestone that showcases our dedication to our members. Not only are we returning another $120 million this year while celebrating over $1 billion back in total Patronage payments, but for 20 consecutive years, we have been able to share profits with our member-owners as we continue to grow with them.”
To commemorate this momentous occasion, GreenStone invites its members to join them for an event at their local branch on March 20 to celebrate this significant member benefit of more than $1 billion back over the 20 years of the program. Patronage Day events will include refreshments, fun and the distribution of Patronage checks.
“We are thrilled to celebrate this milestone with our members,” said Jones. “It truly is a testament to the relationships we have with built with our members and we look forward to showing our appreciation for them through our Patronage Day events.”
GreenStone remains committed to giving back to the rural communities it serves. You can find more information about GreenStone’s Patronage program here.
GreenStone is pleased to announce two new members to its capital markets team, Chris Allsteadt and Mike Frodermann!
Chris (pictured above left) brings a wealth of knowledge with him to GreenStone, with over 20 years of experience exclusively devoted to the growth of agribusinesses. Before joining GreenStone, he most recently worked as the Director of Credit at CoBank for nearly 15 years covering the Corporate Agribusiness Division.
Chris is eager to continue to grow and diversify GreenStone’s portfolio and create an even more sustainable business for the benefit of our stakeholders and shareholders. As a member-owned cooperative, the success of our member-owners is our success!
For Chris, bringing out the best in his team is the key to success. “What I enjoy most about my role is supporting our team and bringing out all of their unique skillsets and personalities in a way that contributes towards our overall growth,” says Chris. “I enjoy watching our team grow personally and professionally. To me, it’s the little things that are important. I love what I do and enjoy supporting the mission of Farm Credit and advocating for our associations, industries, and banking partners.”
In what free time he has, Chris stays active and enjoys a variety of hobbies including fitness, golf, snowboarding, playing chess, and even learning to speak Spanish!
Mike (pictured above right) joined the GreenStone team in December 2024 in the role of Senior Vice President – Portfolio Risk Management. He comes to GreenStone with over 27 years of progressive experience in the financial sector, most recently serving as the Senior Vice President – Credit & Operations on the capital markets team at AgCountry CFG. Mike attended the University of Minnesota – Morris where he earned his BA in Economics and Management, then advanced his professional career by having various positions in the leasing, commercial equipment finance, corporate lending, and ABL sectors.
In his new role as SVP – Portfolio Risk Management Mike is looking forward to continuing to identify emerging eligible market opportunities with a focus on providing sound, constructive, and reliable credit to all eligible customer–owners of our lending cooperative. Mike will be actively involved in the development of strategic direction and the coordination of operational management of association portfolio risk management for all market segments, directing Agribusiness Lending credit activities, and chairing the Executive, Capital Markets, and Agribusiness Lending Credit Committees.
Mike is a Minnesota native and currently lives in suburban Minneapolis with his wife Katie and their three children. When not working or at a sporting event, Mike enjoys travel, fishing, and occasionally going to his parents’ farm to get his hands dirty.
To view the winter 2025 issue of Partners magazine in its entirety, click here.
March 2025 marked two exciting milestones for GreenStone members on Patronage Day. Not only was it the 20th consecutive year of sharing our profits with our members, but we also returned a total of $1 billion back into your hands throughout those 20 years! That’s a lot of dollars!
Exactly how big is 1 billion you might ask? Well to put it into perspective, we thought we’d share some examples with you:
- 1 billion gallons of milk would fill approximately 1,500 Olympic-sized swimming pools.
- There are just under a billion acres of protected recreational land in the U.S. to get out and enjoy!
- A herd of 1 billion cows would require more land than the entire United States.
- 1 billion trees could build approximately 23 million average-size houses
But most important are the countless smiles, handshakes, relationships, and dreams we’ve been lucky enough to help make a reality for over a century. The success of our members is the “why” behind what we do, and we are truly grateful to be able to share our earnings with you for the 20th consecutive year.
To celebrate 20 years of Patronage, we returned $120 million in Patronage dividend checks to eligible loan customers on March 20, 2025! Each Patronage-earning member received a notification letter in mid-February outlining the amount of their check. That letter also included a personal invitation to join us for a celebration on March 20, 2025, at their local branch. Members enjoyed refreshments, a celebration of our 20 year and $1 billion milestones, and of course, had the opportunity to pick up their check.
Patronage is a partnership. Our ability to give back to you, our member-owners, is the direct result of your success and your relationship and trust in GreenStone.
To view the winter 2025 issue of Partners magazine in its entirety, click here.
As we contemplate another year of agriculture production focused on our individual and collective roles as part of the food system, our preparation, planning and planting is heavy on our minds. Will we all win together in this critical profession of agriculture? What are the dependencies we have that will make a difference in our outcomes? These questions have to be part of our thinking. Defining the “win” will likely be difficult and different for each of us, yet we all must work together.
One critical dependency is agriculture public policy. While we finished 2024 without the completion of the Farm Bill that many hoped would have addressed significant public policy issues and modernize aspects of what producers require and provide some level of certainty in the marketplace, all hope is not lost. We get to try again in 2025 to develop sound policy to advance our common mission with a new Farm Bill.
Bob Seger said it best in his 1982 song “Roll Me Away” with his lyric: “Gotta keep rollin’, got to keep ridin’, keep searchin’ till I find what’s right. And as the sunset faded I spoke to the faintest first starlight and said ‘next time we’ll get it right.’” Sooner or later we all come to realize this truth: we are in this together, and together we can get it right. Education and communication are premium attributes to accomplish agriculture togetherness.
There have been some critical gaps in the education and communication which have reached some bubbling points recently. The permitting of animal agriculture operation, the science of anaerobic digesters, understanding the real costs of labor, and environmental policy on water usage has been the centerpiece of this gap, to name a few. This has created a level of uncertainty in how professional agriculture producers may be sustained or grow their farms to serve the needs of consumers. When contemplating these issues, it feels as if agriculture is getting prevented.
Reflecting on where we are and how we got here provokes a diversity of opinions based upon individual experiences, your roll in the agriculture industry or how you view the political discourse. An individual opinion may have at their root a strong and reasoned based view from real life experiences. These opinions could be the start of divisions among agriculture interests and could lead to conflict. The conflict could be unintended, but nonetheless a sticking point. The whole pile of diversity of opinions demands a level of leadership that can balance the topics to land on the best overall outcome.
Educating leading policy makers is crucial toward that overall outcome as a bridge to agriculture togetherness. Standing together with diverse agriculture interests strengthens the mission and will halt the prevention of advancing agriculture. This may be the change that is called for as agriculture practices, and the demands upon farming, change as well. Science and technology advance for agriculture and while farmers may embrace these changes to meet the business challenges, if policy makers do not engage, listen and learn, agricultural will stagnate. The above centerpieces of this gap have demonstratively damaged economic aspects of agriculture. Overcoming these economic damages takes a change in the manner industry engages in educating and communicating. Alternative action would be to accept the decisions of policy makers without engagement.
The GreenStone team does its best to balance its efforts in the education and communication process to preserve and advance the cooperative mission to be the first choice for financial services for its members and the communities we serve as part of the Farm Credit System mandates. It can be tricky at times because of the wide diversity of opinions. However, the focus is always on building agriculture togetherness for the overall win for the industry.
We do this through our voluntary political action committees (PAC) engagements with a regular drumbeat of communication activities. Sometimes we may define a win as making it to next year, and we’re going to make it to next year. That is not enough for long term survival. There is a tremendous amount of uncertainty now with what’s going on, and there certainly is uncertainty with a new administration and new USDA. Now will be the time to rally in our efforts to educate and communicate to provide a better chance than the recent past.
For example, President Trump in his second term has suggested taking a path toward streamlining regulations that have been a burden to farmers and address the immigration issue. While this second term will be just beginning, there does not appear to be any interest in shying away from tough issues. Educating and communicating on these tough issues, including those mentioned above (animal agriculture, anaerobic digestors, labor and water), on both federal and state levels, will be crucial. The PACs that GreenStone has in place are key tools toward advancement.
Participation by all GreenStone supporters will be critical to advance agriculture in this rapidly changing environment in both fields of planting crops and public policy. That would be a win for agriculture. We got to keep rolling.
To view the winter 2025 issue of Partners magazine in its entirety, click here.
As a cooperative, GreenStone is owned by its member stockholders and governed by an elected Board of Directors representing all areas of our territory. Our board meets throughout the year to provide direction and leadership oversight to our organization.
Before a member can be elected to the board, our Nominating Committee identifies, evaluates, and nominates a qualified slate of member candidates for stockholder election. The Nominating Committee holds a very pivotal role in determining who provides leadership to our association.
If you’re interested in furthering GreenStone’s role as an industry leader for agriculture and our rural communities, serving on the Nominating Committee might be a great opportunity for you!
Who Can Apply for the Nominating Committee?
The main duty of the Nominating Committee is to seek out and identify qualified individuals who are willing to serve as directors or nominating committee members. Those interested in serving on the Committee must:
- Be a voting GreenStone stockholder
- Have an outstanding loan balance with GreenStone
- Not be a current candidate for the Board of Directors
- Reside or have a headquarters within GreenStone’s chartered territory
What Makes a Good Candidate?
The most important quality of a Nominating Committee member is your eagerness to get involved and advance the association forward. By putting the right people in place, GreenStone and our members both experience long-term growth that makes an impact.
Are you a GreenStone member who’s passionate about finding the right people to represent our organization? Click here to learn more about applying for the Nominating Committee and submit your application to be considered!
To view the winter 2025 issue of Partners magazine in its entirety, click here.