What has changed since July’s Partners article?

Update: As of December 3, 2024, you are no longer required to complete the CTA and BOI information by January 1, 2025. However, if you choose to you are still allowed to submit your reports. At a minimum, we recommend you closely monitor developments and have all of the information necessary to complete your filings so you can swiftly respond when a ruling has been made. Here’s what you need to know:

A federal district court in Texas has issued an order granting a nationwide, preliminary injunction that: (1) enjoins enforcement of the Corporate Transparency Act (CTA) and regulations implementing its beneficial ownership information (BOI) reporting requirements, and (2) stays all deadlines to comply with the CTA’s reporting requirements, including the January 1, 2025, deadline for reporting companies to submit their initial BOI report. The Department of Justice, on behalf of the Department of the Treasury, filed an appeal of the district court’s decision on December 5, 2024.

The Financial Crimes Enforcement Network (FinCEN) has responded that as long as the preliminary injunction remains in effect:

1. reporting companies are not required to report BOI to FinCEN; and
2. reporting companies will not be subject to liability for failing to report their BOI.

FinCEN also indicated that reporting companies may continue to voluntarily submit BOI reports.

What This Means for You:

Due to the stay, you are no longer required to complete the CTA and BOI information by January 1, 2025.  However, if you choose to you are still allowed to submit your reports.

The future of the CTA and BOI reporting, including when reports need to be submitted, remains fluid and unpredictable.  If the appeal upholds the CTA and BOI reporting requirements, you will need to report at a future date. We recommend that you closely monitor developments and be prepared to respond swiftly if necessary.

Check the FinCEN Beneficial Ownership Information Reporting page for more information.

For those of you that are loyal readers of this Partners magazine, you may be wondering – why another article on the Corporate Transparency Act (CTA)?

The answer is: it is new, there have been some updates to it, and many impacted business owners still do not understand it.

Near the end of 2023, the National Federation of Independent Business completed a survey in which 90% of small businesses responded that they were completely unaware of the new CTA Beneficial Ownership Information (BOI) requirements. 90%!

What is the purpose of the CTA?

The CTA was enacted as part of the Anti-Money Laundering Act in the 2021 National Defense Authorization Act. The CTA is intended to combat money laundering, terrorism financing, organized crime, and other financial crimes by requiring many corporations, limited liability companies (LLCs), and other entities formed or registered in the U.S. to timely report information about their beneficial owners and company applicants to the Financial Crimes Enforcement Network (FinCEN). The CTA authorizes FinCEN to maintain a centralized, nonpublic database of BOI, accessible to law enforcement agencies, national security agencies, and financial institutions.

Who is required to comply?

The CTA focuses on business entities that have:

• Fewer than 20 full-time employees
• An operating presence in the U.S.
• $5 million or less in gross receipts

Business entities that must report are defined as those “… created by the filing of a document with a Secretary of State or any similar office in the United States.” Businesses that need to comply with BOI include, but are not limited to:

• Limited Liability Companies, including single member LLCs
• S corporations
• C corporations
• Cooperatives
• Associations
• Limited Partnerships
• Certain trusts

What has changed since January’s Partners article?

On March 1, 2024, a federal district court in the Northern District of Alabama concluded that the CTA BOI reporting requirements were unconstitutional and urged FinCEN not to enforce the CTA against members of the National Small Business Association, the plaintiffs in the case. FinCEN indicated it would comply with the court order regarding members of the National Small Business Association. FinCEN did also file a notice of appeal in the case. More legal challenges are likely!

On April 3, 2024, the Association of International Certified Professional Accountants (AICPA) wrote a letter to the director of the FinCEN in which the Alabama court case was cited – requesting that the FinCEN suspend the enforcement actions of the CTA BOI until one year after the conclusion of the above-mentioned court case and any other related court cases.

At the end of April 2024, U.S. Representative Warren Davidson (OH-08) and U.S. Senator Tommy Tuberville (AL) introduced a bill to repeal the CTA.

On May 30, 2024, the House Small Business Committee was scheduled to hold a hearing on the CTA BOI.

Be wary!

FinCEN issued a warning that it was aware of fraudulent attempts to solicit information from individuals and entities who may be subject to reporting requirements under the CTA.

FinCEN noted that the fraudulent scams include:

• Correspondence requesting payment. There is NO fee to file BOI directly with FinCEN. FinCEN does NOT send correspondence requesting payment to file BOI. Do not send money in response to any mailing that claims to be from the FinCEN or another government agency.
• Correspondence that asks the recipient to click on a URL or to scan a QR code. Those e-mails or letters are likely fraudulent. Do not click any suspicious links or attachments or scan any QR codes in emails, on websites, or in any unsolicited mailings.
• Correspondence that references a “Form 4022,” or an “Important Compliance Notice.” This correspondence is fraudulent. FinCEN does not have a “Form 4022.” Do not send BOI to anyone by completing these forms.
• Correspondence or other documents referencing a “US Business Regulations Dept.” This correspondence is fraudulent; there is no government entity by this name.

Go directly to the FinCEN’s website to complete your BOI information. Only work with reputable service providers if you are receiving assistance in the BOI process. Be diligent with your personally identifiable information!

What Is Next?

Entities subject to the Jan. 1, 2025 filing date might wish to delay compliance with reporting until later in 2024 based on many of the pieces of information detailed in this article. However, all entities should work with their advisers to be prepared to comply by the due date.

You should target to completely understand what is necessary to complete the CTA BOI requirements and be ready to file as soon as possible, even if you do choose to wait until later in the year to complete the filing. Willful noncompliance with the CTA BOI reporting requirement still can result in criminal and civil penalties of $500 per day up to a maximum of $10,000, and up to two years of jail time.

Updated information about the CTA can always be found on the FinCen website at https://www.fincen.gov/.

 

To view the summer 2024 issue of Partners magazine in its entirety, click here.

These sunny summer days call for a cold, refreshing drink. Made with local ingredients, you’ll want to pour yourself a glass of this savory honey lavender lemonade from Indigo Lavender Farms! Read about their lavender story in our summer Partners magazine.

Prep time: 20 minutes

• 1 cup raw honey
• 5 cups purified water
• 1 tablespoon dried, organic culinary lavender (or ¼ cup fresh lavender blossoms, crushed)
• 1 cup lemon juice (fresh squeezed)
• 2-3 sprigs lavender (for garnish)

Instructions:

1. Bring 2 ½ cups purified water to boil in a medium pan.
2. Remove from heat and add honey, stirring to dissolve.
3. Add the lavender to the honey water, cover, and let steep at least 20 minutes or up to several hours, to taste. You can put the lavender into a tea infuser or reusable tea bag for easier clean up.
4. Strain mixture and compost/discard lavender.
5. Pour infusion into a glass pitcher.
6. Add lemon juice and approximately another 2 ½ cups of cold water, to taste. Stir well.
7. Refrigerate until ready to use, or sit on the porch and pour into tall glasses half-filled with ice to enjoy!

Makes 4 servings

 

To view the summer 2024 issue of Partners magazine in its entirety, click here.

Are you one that likes to take the road less traveled, or at least less traveled by vehicles? Off roading has become a popular recreational activity throughout the summer months.

In Michigan and northeast Wisconsin there are thousands of off roading trails you and your outdoor enthusiast crew can explore!

While the adventure of two tracks is fun it can also be dangerous, but here are a few tips to help make sure the fun is also safe.

Know your Trail and Limits:

Some trails can be full of multiple surprises, make sure you do your research before hitting the trail. It is suggested to only ride the trails that you can handle. Doing your research beforehand will help you know what kind of terrain to prepare for and the capabilities you and your vehicle can handle. It is also important to check the weather before you plan to ride, if the trails are muddy make sure you have a winch and someone to help pull you out!

Don’t go Alone:

It’s often more fun to make memories when you have friends with you, but going alone on the trails can also be dangerous. Many of these destinations do not have the proper cellphone service to call for help. In case your off-road vehicle gets stuck it is best to have someone else there to pull you out, or if you both get stuck it is better to not walk alone!

Stay on the Trail:

Although creating your own path may seem fun, it can damage the land around you and leave ruts that will remain there for a long time. Without knowing the terrain, you could also hit rocks or terrain that could damage your vehicle, or cause injury to yourself. Choosing a path that has been previously used will help save you unnecessary worry, costs, and time.

Equipment Check:

Before you and your crew head out onto the trails for the day make sure you look over your equipment to see the current condition. Checking things like oil, gas, and tire pressure can be essential beforehand to make sure you are prepared for the day.

Safety Kit:

It is better to be prepared than unprepared. Not only should you bring a proper first aid kit with bandages and pain reliever, but having things like a tow strap, portable air compressor, tire repair kit, flashlight, jumper cables, and few tools will help you be prepared for anything! While the goal is to never have to use any of these, chances are you may run into someone else who could use the help.

Be prepared so you can have a fun and safe summer in the outdoors!

 

To view the summer 2024 issue of Partners magazine in its entirety, click here.

The agricultural legislative environment has been very active this spring and moving into the summer months. In D.C., Congress is actively moving through the Farm Bill process and the several Farm Credit priorities were included! Back in GreenStone’s territory, an urban agriculture tour in Detroit, MI was sponsored by GreenStone and attended by almost 30 people from the Michigan legislature and agricultural industry. Then in Wisconsin, there is a summer-long farm tour schedule to educate elected officials and keep them engaged. All these accomplishments have been aided by the foresight to build relationships and provide financial support through our political action committees (PAC).

The successful MI GreenStone PAC campaign was followed by deliberation on the recommendations for MI GreenStone PAC disbursements by the Board of Directors with perspective from our lobbyist partner Kelley Cawthorne and the legislative outreach team at GreenStone. Over 30 individuals were identified to be recipients of funds based on their agriculture background, commitment to growing Michigan’s agriculture economy and rural communities, and leadership in the Michigan legislature. Delivery of the funds has begun and some of the MI GreenStone PAC checks will be delivered in-district and in GreenStone offices to facilitate local connections.

In Wisconsin, the WI Farm Credit PAC contribution drive showed continued support from members. This is directly allowing the WI Farm Credit associations to collaborate and decide what legislators to support with PAC funds. Focus has been placed on legislators who have led policy efforts that are priorities for the WI Farm Credit legislative committee and understand the needs of our Wisconsin rural communities. We look forward to inviting members to participate in meetings.

The Farm Credit PAC has also been delivering contributions to federally elected legislators both state-side and in Washington, D.C. The Federal delegation in both Michigan and Wisconsin continues to be thankful for the outreach and support. The information and connections provided has resulted in strong and positive recognitions of Michigan and Wisconsin agriculture and Farm Credit.

Your GreenStone legislative outreach team remains committed to building relationships and communicating the policy needs of your rural communities and agriculture industry, and we are hopeful of workable solutions. But, without your support, we are not able to have as positive of an impact. You are commended for your initiative and commitment to the future of agriculture and rural communities in Michigan and Wisconsin!

 

To view the summer 2024 issue of Partners magazine in its entirety, click here.

In today’s environment, scams are increasingly sophisticated and pervasive. According to a recent FBI report, Americans lost a staggering $10.3 billion to internet scams in 2022, the highest amount in the past five years (FBI Springfield, 2023). This highlights the critical need for vigilance, particularly with scams arriving through the mail, which exploit public information meant to promote transparency but can also be used maliciously.

Public records, such as court documents, marriage certificates, and public mortgage records, provide details like loan amounts, interest rates, loan terms, and the institutions holding mortgage notes. This information is not only accessible to cybercriminals but also to businesses seeking to market their goods and services. For instance, many receive mail soon after closing a loan that references their mortgage details, appearing to come from their actual mortgage company but designed to alarm or suggest a better alternative.

How Scammers Obtain Your Information

Scammers can access your information in several ways:

• Purchase from Financial Service Providers: GreenStone does not sell customer information; some financial service providers do. These providers might sell your data to marketing companies that, in turn, use it to create targeted mailers. This information can include loan details, account balances, and transaction histories.
• Creditors and Prescreened Offers: Creditors often provide information to marketing firms once you meet certain credit criteria. These prescreened offers are sent based on your credit report, and scammers can exploit this practice by creating convincing but fraudulent offers that appear legitimate.
• Online Public Records: Scammers can use online tools to search public records. With just your name and property address, they can find mortgage details, property tax records, and other personal information. This data is then used to craft mailers that seem credible and relevant to your specific situation.
• Data Breaches: Data breaches at financial institutions, credit bureaus, or other organizations can expose vast amounts of personal information. Scammers use this stolen data to send highly personalized and convincing mail scams. For example, the Equifax breach in 2017 exposed the personal information of over 147 million people, which has since been used in various fraudulent schemes.
• Social Engineering: Social engineering techniques involve manipulating individuals into divulging personal information. Scammers might call you pretending to be from a legitimate financial institution, using the details they already have to gain your trust and extract more sensitive information.
• Phishing: Phishing involves sending fraudulent emails that appear to be from reputable sources. These emails often contain links to fake websites designed to capture your personal information. While primarily an email-based tactic, phishing can also be linked to mail scams when the mail directs recipients to visit a phishing website. 

Examples of Recent Mail Scams

• Mortgage and Financial Mail Scam Scenario: One recent scam involved fraudulent mail that appeared to be from a well-known mortgage company. The mailer claimed that the recipient’s mortgage had been flagged for urgent review due to potential issues with their payment records. It provided detailed information about the loan, including the amount, interest rate, and lender name, making it look legitimate. The scam’s objective was to lure recipients into calling a provided phone number or visiting a spoofed website to “verify” their information. Once there, victims were prompted to enter personal details, which the scammers could then use for identity theft or unauthorized financial transactions. The Federal Trade Commission (FTC) has issued warnings about similar scams and provided guidelines on how to recognize and report them. For more details on this scam, you can visit the FTC’s consumer information page.
• Farm Equipment and Agricultural Mail Scam Scenario: Farmers and agricultural businesses are also vulnerable to scams targeting their industry. Recently, scams have involved fraudulent offers for farm equipment and supplies. These scams typically involve sending mailers that look like legitimate offers from well-known agricultural companies, promising significant discounts on essential equipment. When farmers respond, they are often asked to provide personal and financial information, which is then used for fraudulent purposes (Wells, 2021).For example, scammers have been known to create fake websites or bogus classifieds on legitimate platforms. They may provide a contract of sale, answer questions about the potential sale of machinery by phone or email or offer a free trial period once money is deposited into an escrow account, which is part of the scam (Dorenkamp, 2024).

Protecting Yourself from Mail Scams

To safeguard against these scams, consider the following strategies:

Recognize Junk Mail

Understanding how scammers get your information helps you recognize junk mail. Look for these signs:

• “Presorted” Postage Labels: This could be an indicator of junk mail, although reputable companies like GreenStone also use this streamlined postage option.
• All-Capitalized Words: Names, mortgage amounts, or lenders in all caps could suggest your information was sourced from purchased lists.

Trust But Verify

• Check the Source: Verify the sender before responding to any mail requesting personal information. You may want to call the sender, using your own contact information for them and not what is provided on the mail, to confirm validity.
• Be Wary of Alarmist Language: Scammers often use language designed to scare you into action.

GreenStone’s Commitment

GreenStone will never ask you via mail to update your confidential information or provide sensitive details such as PINs, account numbers, social security numbers, usernames, or passwords. We advise against responding to any mail requesting such information, even if it appears legitimate. If in doubt, contact us directly.

If you suspect fraud related to your GreenStone accounts, notify us immediately at [email protected] or call 855-895-2761 for prompt assistance.

Steps to Reduce Unsolicited Mailers

The Federal Trade Commission (FTC) suggests two primary actions to reduce unsolicited mailers:

• Opt-Out of Prescreen Offers: Call 1-888-5-OPTOUT (1-888-567-8688) or visit https://www.optoutprescreen.com
• National Do Not Call Registry: Register your phone number to reduce telemarketing calls by visiting https://www.donotcall.gov or calling 1-888-382-1222 from the number you want to register.

Additional Tips for Mail Security

• Shred Personal Documents: Shred any mail that contains personal information before discarding it to prevent identity theft.
• Monitor Your Mailbox: Check your mailbox regularly and be cautious of any unfamiliar mailers.
• Be Skeptical of Urgent Requests: Scammers often create a sense of urgency. Take time to verify the legitimacy of any requests before taking action.
• Use a Locked Mailbox: Consider using a locked mailbox to prevent mail theft.
• Report Suspicious Mail: If you receive suspicious mail, report it to the authorities and your financial institution.

It is important to keep yourself updated and alert to avoid mail scams. Always check the origin of any mail that asks for personal information and use the tools and resources you have to lower your risk of getting unwanted offers and possible scams.

 

To view the summer 2024 issue of Partners magazine in its entirety, click here.

Less than 10 years ago, Tricia Dennis was commuting to her job as a corporate attorney in downtown Detroit.

The former U.S. Air Force Captain spent more than 17 years commuting to her job. She was tired of the grind, so when her husband, Gregory, decided to start a lavender farm, she was completely on board.

“I joke that on April 30, 2017, I was in my business suit and heels behind a desk, and on May 1, I was sitting behind a tractor getting covered in dust and putting in flower beds,” she said. “I’ve enjoyed it immensely. I don’t miss the commute or the corporate life at all.”

In 2017, Tricia was able to quit her job and take over as owner/operator of the lavender business. Located in Imlay City, Michigan, it opened to the public in 2018. The business is both veteran-owned and woman-owned, a rare combination in agriculture.

“I’ve come across several operations owned by women, but I don’t know that I’ve met another farm that is both women- and veteran-owned,” Tricia said.

Trish loves to be on the farm working the garden and pruning the lavender during the summer months. She believes in naturally sustainable farming and works to use best practices for the lavender and honeybees. Everything on the farm is all natural, and there are no chemicals used on the plants.

Tricia and her husband have two active children, Wren and Trace, an upcoming senior and sophomore, respectively, who are also active on the farm.

About the farm

The farm features nine varieties of lavender made up of six lavandula angustifolias and three lavandula x. intermedia.

“Lavandula is a genus of 47 known species of flowering plants in the mint family,” Tricia said.

In 2018, several breeds of feathered friends joined the Indigo family. Silkies, chickens, ducks and even peacocks enjoy the southwest corner of the farm. Silkies are a breed of chicken named for their fluffy plumage which is said to feel like silk and satin.

There is also a large honeybee population on the farm, who stay hard at work making delicious lavender honey. There are nearly 500,000 pollinators on the farm, and they are an important part of the farm ecosystem.

A period of growth

In the first year, Indigo Lavender Farms had just under 4,000 plants, and by 2018, it had more than 10,000 plants. Today, the farm boasts more than 14,000 plants and is considered the largest lavender farm in Michigan with six fields and nine varieties. The average lavender farm in Michigan is less than 1,000 plants.

The farm has added more flowers over the last few years, giving a variety of blooms in the spring and fall as well.

The farm itself is 50 acres and not only home to the purple flowering plants but also a farm store with local-artisan-made goods, a greenhouse, garden, chicken coop, wetlands and more.

“Lavender is naturally drought- and pest-resistant; however, we must weed and nurture our plants by hand to ensure their health and productivity,” she said.

After a few years, the couple had more lavender than they knew what to do with, so they started selling products at local markets.

Today, Indigo Lavender Farms is much more than a farm. Visitors are able to pick their own lavender. There are also a number of photoshoots that happen on the property for weddings, engagements and senior photos. They are also a great venue for wedding ceremonies and receptions.

Indigo is also host to several festivals throughout the year, including Lavender Daze July 19-21, which includes several workshops, wreath-making classes, lavender planting, vendors, live music and more.

The farm employs three people year-round, and has as many as 12 employees during peak season, which is mid- to late-June through the middle of August.

Support from the community

Tricia said that the couple has received a lot of support and encouragement from the community, other lavender growers, the USDA and GreenStone Farm Credit Services.

“I feel fortunate with my background as a lawyer because I had some knowledge about running a small business; however, it is very challenging. I’ve learned a lot about the farming and the business side as well,” she said.

Tricia said she and her husband approached the USDA for a farm ownership loan, and as part of the requirements, they needed to bring in a banking partner.

“We were referred to GreenStone, and the experience has been outstanding,” she said. “They have terrific customer service and lots of options and alternatives to assist in terms of repayments or refinancing.”

GreenStone was Indigo’s finance partner together with the USDA for the original farm loan. They later approached GreenStone when they wanted to acquire more property for the farm. Before they knew it, Indigo quickly grew from 27 acres to 50 acres, which resulted in a second loan with GreenStone.

Tracy Jelinek, senior financial services officer for GreenStone, said she has been involved with helping to expand Indigo Lavender’s footprint with additional financing for an office building, additional acreage and the Dennis’ primary residence, which is located on the farm.

“Having previously been a Captain in the Air Force and a corporate attorney, Tricia is very organized and detail-oriented,” Tracy said. “She’s good with numbers, and when I became involved, their business was already established, so that helped making the analysis process a lot easier.”

Indigo Lavender was the first lavender farm that Tracy worked with, and she has since worked with several other similar farms.

“I can reach out to Tricia and bend her ear,” Tracy said. “She’s very visible in the public and is able to share her experience, the pros and cons and rewards and successes as she grows her business.”

“GreenStone has been fabulous,” Tricia added.

Making the move

Tricia had never been involved with an active farm, but she has found she enjoys it much more than her former day-to-day corporate life.

As for advice to those wanting to get started in agriculture, Tricia said to do your research first.

“We did quite a bit of research into what type of crop to plant, which ones were hearty and what climate they require,” she said. “Farming can be challenging but also very rewarding. There are many things out of your control, like the weather, so don’t be too hard on yourself.”

 

To view the summer 2024 issue of Partners magazine in its entirety, click here.

Coverage for your death benefit needs now, while also covering long term care expenses later on your own terms.

Not long ago the only way to protect against the risk of long-term care expense was through the purchase of a traditional long-term care insurance policy. Many people did not like the “use it or lose it” nature of the product and the instability of the premium increases.

Alternatively, Life-Link Long Term Care coverage provides invaluable protection for individuals and families, offering financial assistance by covering death benefit needs, but also living benefits to cover the costs associated with long-term care services.

• Life insurance today to cover debt and replace income.
• Coverage later to pay long-term care expenses.
• Tax free death benefit for beneficiaries.

Coverage if you need it, all your money back … either in long-term care expenses or in death benefit!

However, the value of such coverage extends far beyond monetary benefits; it provides peace of mind, security, and the ability to maintain dignity and independence in later stages of life.

Here are some key values associated with Life-Link Long Term Care coverage:

1. Legacy Protection: Many farmers have a strong desire to preserve their farming legacy and pass it on to future generations. However, unexpected long-term care costs can quickly erode the assets they’ve worked hard to build over the years. Life-Link Long Term Care insurance helps protect their legacy by ensuring their assets remain intact for the next generation, even if they require expensive long-term care services.

2. Financial Security: Farming often involves physical labor and exposure to various risks such as accidents, injuries, or health issues due to long hours and strenuous work. Life-Link Long Term Care policies provide death benefits to cover debt, farm transitions, and related expenses, but also provides financial protection by covering long-term care costs, including nursing home care, home health care, or assisted living facilities. This helps farmers ensure that they have access to quality care without depleting their savings or assets.

3. Maintaining Independence: With adequate coverage, individuals can afford to receive care in the setting of their choice, whether it’s in their own home, an assisted living facility, or a nursing home. This autonomy is crucial for maintaining a sense of independence and quality of life as one ages.

4. Access to Quality Care: Having long-term care coverage can increase access to high quality care services, as individuals can afford to choose reputable providers and facilities that best meet their needs.

5. Flexible Coverage Options: Many Life-Link Long Term Care policies offer flexible coverage options, allowing individuals to tailor their coverage to their specific needs and budget.

6. Peace of Mind: Farming is not just a job; it’s a way of life for many families. Knowing they have long-term care and life insurance in place can offer peace of mind to farmers and their families, especially as they age. They can focus on running their farm operations without worrying about the financial implications of potential long-term care needs.

7. Tax Benefits: Long-term care insurance premiums may offer tax advantages. Farmers can potentially benefit from tax deductions or credits associated with their long-term care insurance premiums, providing additional financial relief.

Overall, Life-Link Long Term Care insurance provides farmers with the financial security and flexibility they need to protect themselves, their families, and their farming legacies against the uncertainties of long-term care expenses.

GreenStone and FCS LifeExpress are your trusted resource to provide information and experience to answer all your questions, and provide life, disability and long-term care solutions.

 

To view the spring 2024 issue of Partners magazine in its entirety, click here.

Sometimes, all you need is a quick get away from the hustle and bustle of the city to enjoy the peace and quiet of nature. For Melissa Potvin and Michael Schaub, that was just a short drive from Traverse City to 80 sprawling acres in the woods where they can escape to and unwind.

Initially, Melissa thought she may find land on which to build a house, but she and Michael Schaub discovered an 80-acre property with a rustic cabin, perfect for weekend adventures of four-wheeling, hiking, camping and hunting.

The property doesn’t have electricity or water, and Melissa and Michael hope to fix up the cabin to make it usable.

“Right now, I wouldn’t sleep out there, and we want to fix it up in order to be able to do that,” she said. “Building on the property would be costly, so I don’t know if that’s in the plans for the future or not.”

Melissa said the pair visited the property several times over the winter to decide if they wanted to purchase it. Ultimately, they decided it would be the ideal spot for their recreational wishes.

“We wanted the property for recreational purposes,” Melissa said. “It’s a very wooded area and swampy. We know we would be able to make the 25-mile drive about every weekend to spend time there.”

However, just before closing on the property with GreenStone Farm Credit Services, Melissa and Michael found another 40-area parcel adjacent to the 80 acres.

In a last-minute conundrum, Melissa wondered if she and Michael could buy both at the same time.

Partnering with GreenStone Farm Credit Services

When Melissa and Michael found the second property, they wanted to be able to purchase both at the same time, which is somewhat unusual from a financing perspective.

“I had only heard about GreenStone, because I had a friend who worked there many years,” Melissa said. “We were referred to GreenStone by our realtor.”

Melissa, who said she didn’t have any experience with land loans, contacted a few lenders, but in the end, GreenStone was the most responsive and answered all of her questions.

“That’s why I picked GreenStone, it was how helpful they were in answering my questions, and how quick and responsive they were when I needed them,” she said. “Plus, the closing was quick. We closed in less than a month,” she said.

With the initial sale of 80 acres, plus their desire to purchase the additional 40 acres, Melissa and Michael asked GreenStone if they could close on both at the same time to save on closing fees.

Brent Voss, VP of lending at GreenStone, and his team went to work, got everything revised, and the pair was able to purchase both properties together and close at the same time under one loan.

“One of the unique things GreenStone does is that we can combine multiple properties into one loan, and we are able to because of the way we do lending,” Brent said. “Melissa was great to work with, and she was very responsive when I needed items from her like her financials. She was also very responsive when I had questions about what they were looking to do and the property itself, which made the process a lot easier.”

Brent said that Melissa’s and Michael’s property is unique in that there’s an older cabin on one parcel and swampy land on another. However, lending for unique properties is one of GreenStone’s expertise.

“Country living lending is a broad coverage term that GreenStone uses for people living in the country away from an actual city. Our land financing options can be used for vacant land, residential land in the country, small acreage parcels, large parcels, part-time farms and even horse facilities,” Brent said.

Aside from GreenStone’s communication and ability to quickly join the two properties together on one loan, Melissa said she appreciates that it’s a co-op. As a cooperative, GreenStone is owned by the customers it serves, so it inherently works in their collective best interest.

“I didn’t know at the time when I picked them that GreenStone is a co-op that is ag-focused and offers rural lending services,” she said. “I didn’t know that until after closing, but I like that part of it.”

Melissa said if she needs another loan or financial services, she will likely use GreenStone again.

“GreenStone gave me all the information I needed to know,” she said. “If in the future something were to happen, I would probably use GreenStone.”

Enjoying their new oasis

Melissa said the pair enjoys getting away from the city every weekend, and with it only being 25 miles from her primary home, the drive is convenient.

“We don’t have to travel too far,” she said. “We can go after work, hang out and come home. It’s nice to get away and enjoy nature and lots of animals.”

Looking toward the future, Melissa is excited to get the cabin ready for overnight stays.

“Fixing up the cabin would be nice,” she said. “We want to be able to camp out there during the summer and snowshoe in the winter. There’s also a lot of fallen trees, so we’re focused on a lot of clean up right now.”

 

To view the summer 2024 issue of Partners magazine in its entirety, click here.

Here’s a challenge to consider: a first-time visitor to Michigan has only one week to see as much of the state as possible and you are their tour guide. Where do you take them and what do you show them?

Just last summer, I accepted that particular challenge when my cousins from Oklahoma took me up on my annual invite to come visit Michigan. They would bring their three kids, drive to our place in southeast Michigan and stay for six days. Excited to show them our Great Lakes State for the first time, I needed to design a road trip that was efficient in seeing as much as possible without being exhausting. After all, a vacation should be stress-free and relaxing! As much as I would have loved for them to experience the Upper Peninsula, I knew it was virtually impossible to get there and back with time to see it all. So, my husband and I made a game plan to stick to the Lower Peninsula with the promise that our cousins would need to come back another time for a U.P. tour.

Their first evening in town was the perfect opportunity for a relaxing boat ride on Lake St. Clair, complete with a stop at our favorite swimming hole, and then some casting for bass. The next day, we loaded up and hit the road, where our first stop was the town of Clare. We visited the Michigan Welcome Center and then shopped at Jay’s Sporting Goods. Continuing north and west, we stopped for a quick tour of the Platte River State Fish Hatchery in Beulah, and then headed to the Sleeping Bear Dunes National Lakeshore. The kids were able to stretch their legs and expend some energy climbing in the sand while the adults took in the majestic views only the dunes on Lake Michigan can offer. We cooled off at a beautiful little beach in the town of Empire, and then made our way to Petoskey to spend the night.

The next morning was spent exploring downtown Petoskey for shopping, dining, and watching a few residents fish from shore near the local marina. Next, we made our way to the top of the mitten and hit Wilderness State Park for swimming, a picnic lunch, sunbathing and beach combing. Then it was onward and upward to Mackinaw City for some of their famous fudge, window shopping and ice cream, and of course, a stop at the water’s edge for some photos of the mighty Mackinac Bridge. We continued on to the town of Cheboygan for a great dinner and some time on the river before calling it a night. In the morning, we packed up and made our way down the sunrise side of the mitten. We stopped at Frank’s Great Outdoors in Linwood, then Pinconning for some world-famous cheese, and arrived back at our house with time to grill some venison burgers and toast up some marshmallows for s’mores.

Whew! Are you tired yet? We were, so we recuperated at home for a couple of days, and took some shorter day trips in the area.  We explored Port Huron, St. Clair and Marysville, and caught a few walleye in the St. Clair River. Our cousins headed back to Oklahoma with a whole new idea of what we have here in Michigan, and just how incredible this water wonderland really is! There is SO much more to do and see here, and they did promise to return for another adventurous visit. Maybe this is the summer to make your own list of the perfect Michigan road trip, and then with or without newcomers, get out and experience this precious and awe-inspiring state we are lucky enough to call home!

 

To view the summer 2024 issue of Partners magazine in its entirety, click here.

The summertime is the best time to enjoy the outdoors, the sun is out, grasses and flowers are tall, and lakes are great to cool off in! There’s no better time to enjoy the beaches or national parks; but there are some risks with spending time outdoors in the summer. There are many precautions available to protect you and your skin this summer while enjoying the outdoors.

Keeping an eye out for the ultraviolet radiation (UV) level when you check the weather is important, the UV comes from the sun and penetrates clouds and reflects off surfaces like water or sand. A UV level of 0-5 is considered low and medium recommending sunscreen. Experts tell us a UV level of 6-10 is high, recommending also wearing hats and finding shade. Any UV over 11 is considered extremely high, with many precautions advised for going outside during the peek hours from 10 a.m. to 4 p.m. While applying sunscreen often is a great idea, there are a few other things that can give you additional protection from the sun, like wearing hats, long sleeved shirts, and using an umbrella.

Long grass, shrubs, and standing water are places bugs like mosquitos and ticks thrive. Experts suggest it’s best to cut back long grass, brush, and shrubs to limit tick populations and reduce standing water surrounding your property to avoid it being used as a home for mosquitos. Bug spray, certain aromas, or long sleeved shirt and pants are the best protection when visiting these types of areas. When camping or having a outdoor gathering, consider keeping food and liquids in airtight containers as to not attract more bugs. When returning inside, it’s important to check yourself for ticks as tick-borne illnesses are common in the summer.

Taking steps to protect your skin is most important, but if you do end up sunburnt or bitten by a bug, there are quite a few things you can do to ease the burn or itch. Aloe vera is a great solution for both issues, its inflammatory properties help ease the itch of a mosquito and the burn from the UV. You’re able to get it in premade gel or an entire plant to grow and harvest when you need it! If bitten by a tick you should wash the site with antibacterial soap or hydrogen peroxide and monitor it as it heals. Calamine lotion or hydrocortisone are also great alternatives to sooth a bug related itch.

Whether it’s on the fields, beach, or deep in the woods, it’s vital to stay protected no matter the conditions. The more precaution taken prevents many of the risks associated with long periods of time outside. Using some of the methods above we hope you enjoy a fun filled summer outdoors while staying safe!

 

To view the summer 2024 issue of Partners magazine in its entirety, click here.