160 years ago, the Natzke family wanted to make a difference in their community. They broke ground on the development of Zion Lutheran Church in Greenleaf, Wisconsin, while at the same time, starting a farming operation that is known today as Wayside Dairy.
It’s that passion for agriculture and faith in God that has helped them become the community staple they are, all these years later. Through hard work and a passion to serve, their continued success is inevitable.
Equipped with four generations of knowledge, Dan Natzke shares the farm with the fifth generation, his children, Jeremy and Jenna. After growing up watching their father have a passion for the trade, they knew they wanted to do this important work as well – working full-time on the farm.
“I personally like the challenge,” Jeremy explained. “No two days are ever the same. You start your day off with an agenda, and it doesn’t always go according to plan, but it turns out a different way and that’s not always a bad thing.”
“It’s something different every day, and that’s what makes it exciting,” Jenna agreed.
A Turning Point
Every farmer knows that life in agriculture is far from simple, and some days are tougher to bare than others. In 2001, when the farm was milking 400 cows every day, they suffered a barn fire depleting most of their facility.
Their cows were moved to an off-site facility for six weeks as they fixed up what they had left. Although a stressful and defeating situation, Dan keeps a positive spin on that fateful day.
“That was one of the worst days, but also one of the best days for us to start over and modernize,” said Dan.
And that’s exactly what they did. Today, the farm milks 2,200 cattle and harvests 3,200 acres of crops including alfalfa, corn for silage and wheat – much of which is used for feed. Nearly 211,000 pounds of milk per day is produced on the farm.
Crunching the Numbers
Between the crops and a full-scale dairy operation, managing the books and making sure the farm’s 35 employees are paid is a full-time job. Jenna works in the office and handles day-to-day accounting and payroll with the help of her GreenStone tax accountant, Eric Vandivier.
“They’re fantastic to work with and very down-to-earth people,” said Eric.
Eric handles the farm’s personal and business tax returns, quarterly payroll duties, year-end payroll and monthly accounting. Eric’s favorite part of helping the farm manage their books is getting to see them grow in real time.
“It’s always fun to see where they were at financially 12 months ago and compare that to where they are now,” said Eric. It’s fun to be a small part of a successful farm like this.”
That’s the kind of can-do attitude that Eric likes to deliver to all of his customers.
“Not a lot of people like talking about taxes, but I try to keep it as simple as possible for customers to understand what it all entails. I can help them plan for the future and give them information that helps them make the best business decisions possible.”
The farm doesn’t just lean on GreenStone for help with tax and accounting services, but also loans and crop insurance. Dan enjoys the one-stop-shop convenience that GreenStone offers.
“We’ve worked with GreenStone for more than 20 years, and through the years, GreenStone has been there,” said Dan. “They’ve helped us with loans, building projects, accounting, and crop insurance. It’s a great place to get all of that done at once. They have people handling all of those accounts. It makes it fun doing business with them.”
Another person on team Wayside, their GreenStone financial services officer, Michelle Backhaus. Michelle loves assisting the farm with new projects because she knows the energy she puts into the Natzke family benefits the entire community.
“They are a very community-based farm and family,” said Michelle. “They are very involved with the church. It has been fun to get to know how they give back to the community.”
Going Green
Not only is Wayside Dairy passionate about giving back to the community, but they value giving back to the earth, as well.
Wayside Dairy began a digester project where there are able to collect methane from manure waste on the farm and turn it into natural gas.
Leading the pack on this project is family friend Jesse Dvorachek, who grew up seven miles down the road from the farm. Soon, Jesse will have a share of the farm, after working on manure management for the operation for years.
“I know this family very well,” Jesse explains. “When the fire broke out in 2001, I was a little kid helping wrangle the cows running around.”
Jesse also explained that the farm has moved away from sand as bedding for cattle and is using dried manure solids. This helps prevent truckloads of manure from leaving the farm reducing risk of pollution and saves them tens of thousands of dollars on sand.
“We started producing the solids and we have a separator,” said Jesse. “We’re running the solids through an infrared dryer. We took out the sand and started putting in the dried manure solids. We transitioned all the cattle to this in about seven weeks.”
The farm is also hoping to plant cover crops regularly after each harvest season to use as feed and keep the soil fertile and sustainable.
“We know large farms aren’t always well received, but if we can have grain fields that are good for the soils, it’s the right thing environmentally,” said Dan.
The Road Ahead
Between working to make the farm more sustainable and making sure the next generation is inspired to continue the family legacy, the Natzke family is busy planning for the future.
“We hope to get our kids involved,” said Jenna. “They could be our sixth generation. We hope they get excited about things here and eventually want to join.”
From generation to generation, GreenStone will be there to help keep their crops protected, keep their books balanced and help make their ideas a reality.
“They just want to be the best operation they can be,” said Eric.
“I value the relationship we have created together,” said Michelle. “I like to help them be a part of their day-to-day operations and a part of their success. Watching them climb the ladder is the most rewarding for me.”
To view the article in the online 2023 Summer Partners Magazine, click here.
The modern era, while bringing the world closer and making information accessible, has also brought unique challenges. One of these challenges lies in navigating the digital landscape safely. The 2023 Verizon Data Breach Investigations Report (DBIR) underscores this.
According to the report, “74% of breaches include a human element, such as Error, Privilege Misuse, Use of Stolen Credentials, or Social Engineering. Furthermore, 49% of breaches by external actors involved the use of stolen credentials. Phishing made up 12% of external attacks, and attackers exploited vulnerabilities in 5% of breaches. As what drives these attacks is financial gains, 95% of breaches are financially driven.” (Verizon, 2023).
What does this tell us? Your role in protecting your information is more significant than ever.
Phishing is one of the most popular tricks in the scammer’s toolbox, largely due to its success rate. They send deceptive messages disguised as communications from a trusted entity, attempting to coax you into revealing crucial sensitive information. Because of the ease with which a phishing email can be crafted, they often take on the guise of fraudulent wire transfer requests, banking account changes, or even something as mundane as a bank account password reset page. GreenStone is committed to helping you stay secure. Here are some key ways you can identify and neutralize such attempts:
- Unsolicited Requests: Be cautious of unexpected emails or texts, particularly those asking for wire transfers or sensitive information.
- Urgency: A message that tries to create a sense of immediate action is often a warning sign.
- Sender Verification: Always verify the sender’s details. Watch for slightly altered email addresses that closely resemble legitimate ones.
- Links: Treat every link in an email with suspicion. Hover over it to check its destination before you click.
- Spelling and Grammar: Typos or poor grammar in messages are often clear indicators of phishing scams.
Besides spotting phishing attempts, we should also understand the importance of vigilance in certain scenarios. Take, for example, a loan process. It is a chance of connections involving you, GreenStone, title companies, realtors, and possibly other participants. Each link in this chain is an email of information exchange. A single compromised link, infected by cyber attackers, could put the entire chain at risk.
That’s why we must be on guard when it comes to emails involving sensitive information including wire instructions or other personal sensitive information. Use your gut instincts, if something feels off, like the timing of the message or the language used is out of place, it’s critical to verify its authenticity.
GreenStone takes your information and privacy seriously; all of our websites and emails are secured using current internet security standards of encryption, TLS, which stand for “Transport Layer Security” and ensures your information is encrypted between your computer and our website to prevent unauthorized access. We also offer a secure File Exchange platform to share sensitive information using our My Access customer portal.
Remember, a chain is only as strong as its weakest link, our email conversations are only as private as the most secure email. With this in mind, let’s also ensure you’re well-fortified with:
- Confidentiality: Never disclose sensitive information or conduct wire transfers based on unsolicited messages.
- Device Updates: Keep your devices updated to patch security vulnerabilities.
- Financial Monitoring: Regularly check your financial statements and immediately report any irregularities to your bank.
- Multi-factor Authentication (MFA): Enable MFA on your accounts wherever possible, especially on your email and bank accounts.
- Verification: Always verify wire transfer instructions, particularly if there are any changes. Use known, trusted channels for this verification.
Should you receive a suspicious message that appears to be from us or your bank, don’t hesitate to contact us. Use contact details that you trust, not the ones provided in the suspicious message.
We prioritize your security in the digital landscape. With vigilance, robust safety measures, and a keen eye, we can together keep your digital fields safe.
References:
- Verizon. (2023). Verizon 2023 Data Breach Investigations Report.
To view the article in the online 2023 Summer Partners Magazine, click here.
It’s spring time in Michigan, and that can have lots of different meanings to different people.
We as Michiganders are some lucky folks. I know we all take it for granted, it is hard not to. We are surrounded by an endless amount of natural resources other states only wish they had.
Where do we start. We could start with our endless amount of blue-ribbon trout streams. I suppose we could start with the over 11,000 inland lakes. Maybe it’s our elk population that other Midwest states don’t have. Maybe it’s that we harvest more Woodcock than any other state. Maybe it’s our deer, maybe our bear, maybe our 4.6 million acres of state land! I don’t know what our most prized natural resource is, oh wait yes, I do – it’s our Great Lakes! And a top the fish swimming in the big water of Lake Superior, Michigan, Huron, Erie and Ontario is the chinook or king salmon.
The king salmon is such an amazing fish it’s hard to say just how much it means to the billion-dollar sport fishing industry here in Michigan. Folks here in our state and across the Midwest and beyond come here to tangle with this formidable hard fighting fish. Lake Michigan is not the only lake that holds the king salmon but does produce more than the other lakes and among the west Michigan coast ports that produce the most fish Grand Haven, Ludington, and Manistee are typically the hot spots for some of the best fishing. Last week found me in Manistee with the conditions just right, the fish feeding on some lingering bait fish and the cooler was full at the end of the day. So, the problem is, what does one do with 60-80 pounds of fish?
Eat some, freeze some, give some.
Eat some. I always like to eat as muchas I can while its fresh so with in the first 2-3 days plan on grilling or smoking as much as you can! My favorites recipe for the grill is as follows:
- Cut the fillets into smaller pieces roughly the size of your spatula.
- Marinate your fish in a zip lock, skin off, for 30 minutes in equal part soy sauce and Lemon Concentrate. I also will put some corn oil in the bag for some lubrication as well. I once put corn syrup in on accident and it was really good as well!
- Once you let that sit for half an hour put on a hot grill for a few minutes per side until done and enjoy.
If you want to smoke it, you can do skin off or leave on, do the same marinade but smoke for half hour at 225, then bump up to 350 for another half hour and enjoy!
Freeze some.
I like to bag in smaller portions. Typically, 2-3 fillets per gallon size ziplock. That way you don’t have huge portions if you’re only going to be cooking for a few people. You can always pull more bags out. Try to label by date and species of fish. Try to eat within a month or so. You may go fishing again and need the space!
Give some.
This is the best part. I have found real joy in going around town to the endless amount of people who love salmon who rarely get it. I just dropped off fish for about five families this past week and it was so much fun, and so appreciated!
Catching a big king is awesome, giving some away is just as rewarding, give it a try!
To view the article in the online 2023 Summer Partners Magazine, click here.
Integrating your operating loans with short-term investments through a GreenStone Farm Cash Management account gives you the dual benefit of easy access to operating funds while potentially minimizing net interest costs.
Integrating your operating loans with short-term investments through a GreenStone Farm Cash Management account gives you the dual benefit of easy access to operating funds while potentially minimizing net interest costs.
When your Farm Cash Management account is activated and funded, money drawn will be pulled from the investment account before advancing withdrawals from your GreenStone operating loan. The benefit is the Farm Cash Management program combines the availability of a revolving line of credit with the high return of a short-term investment account.
As a result, you can save money by putting your funds into an account where they generate the best return. Farm Cash Management helps you make the most of the money you have now to help out with future expenses.
How does it work?
When you have available cash, your operating loan is paid first. Any excess funds are then invested in an account of short-term investment bonds. You’re then paid a return, similar to a money market account.
Why a bond?
Bonds pay interest at rates that are higher than typical commercial bank accounts like checking, savings, and certificates of deposit.
What is the benefit?
When you need cash for operating expenses, you can use the investment account funds first – before your operating loan – to help minimize your operating loan interest cost.
Plus, you don’t have to worry about access. If you need your Farm Cash Management money, you can get it at any time, with no penalty. If you access more money than your balance, Farm Cash Management will automatically use your credit line.
How do I get it?
Funds are immediately available by writing a draft on your revolving line of credit. You can transfer funds online or over the phone, and the investment funds are liquid.
There is also an option to utilize a debit card to access your Farm Cash Management funds.
What are my limits?
Farm Cash Management has no limits on the number of drafts that can be written or the number of electronic funds transfers that can be made. In addition, there are no monthly or per check fees.
What about taxes?
Interest earned on your investment bonds is exempt from state and local income tax, so the tax-adjusted annual yield is even higher.
It’s a simple process. Using Farm Cash Management is as straightforward as making a payment on your loan or writing a draft on your operating loan.
Your Money is Secure
You will receive a monthly detailed transaction statement so you can make sure all purchases made with your Farm Cash Management account are valid. You can also receive text message notifications of credits or debits posted to your line of credit or debit card.
Contact your GreenStone team for more information on Farm Credit Management, and start saving today!
To view the article in the online 2023 Summer Partners Magazine, click here.
At GreenStone, we understand that the success of our members is, in part, determined by the strength of the communities we serve. Each year, the co-op gives back thousands of dollars and volunteer hours to hundreds of organizations that align with our mission and vision.
GreenStone aligns those dollars and hours to four target focus areas:
• Agriculture Advocacy, Customer and Industry Relations and Producer Leadership Development and Education
• Young, Beginning and Small Farmers Youth Education and Agriculture Awareness
• Rural Community Engagement
As we mark the halfway point of 2023, GreenStone is once again leading the charge by dedicating 3,360 hours and $162,000 dollars to the community through local events, scholarships and partnerships with local organizations committed to advancing rural America and agriculture.
Highlights of outreach efforts year to date:
Supporting the future of farming is a part of our commitment to supporting our rural communities. This year, GreenStone awarded $60,000 dollars in scholarships for current and incoming college students pursuing degrees that help advance agriculture.
GreenStone is committing to the advancement of youth in agriculture by being a proud supporter of 4-H in both Michigan and Wisconsin. GreenStone’s values align with 4-H’s goal to advance youth through rural community engagement and personal growth. GreenStone is an annual sponsor of the Michigan 4-H Volunteer Leader Recognition Training and a top sponsor of the Wisconsin 4-H program. In addition to these donations, staff from each of our 35 locations are involved year-round through community-building activities, county fairs and youth engagements.
Advocating for farmers is another way GreenStone is committed to giving back. One way is through our partnership with Michigan Grown, Michigan Great, which promotes Michigan-grown products and the local farmers growing it. GreenStone donates to the group annually to help make it possible for them to attend farmer’s markets, community events and food festivals. The group aims to raise awareness of the food grown around us and the steps farmers take to ensure food is safe and wholesome.
The diversity of agriculture in Michigan and Wisconsin is extensive, and the dairy industry is a key contributor. GreenStone advocates for the dairy industry. Among the partnerships is Dairy Business Association in Wisconsin through which GreenStone supports their Dairy Strong event, golf outing, policy meetings and the World Dairy Expo among others. Like many similar organizations, GreenStone teammates are involved and help promote and support their values. The Dairy Business Association is a large supporter of dairy farms in Wisconsin and aligns with GreenStone’s commitment of advocating for the agriculture industry.
We know that the investments made in our communities today will help strengthen them and the next generation for tomorrow. GreenStone is proud to continue building on this promise to rural Michigan and northeast Wisconsin.
To learn more about how GreenStone is showing up for our communities through sponsorships, outreach and scholarships, check out our page at www.GreenStoneFCS.com/community.
To view the article in the online 2023 Summer Partners Magazine, click here.
We know your time is valuable, and that’s why GreenStone is now offering real-time updates and information through text messaging! Whether you’re in the field, on the road, or at home, you can now connect with GreenStone in the palm of your hand.
To sign up, text “GreenStone” to 87303 – it’s that simple!
When you sign up for texting through GreenStone, you will receive:
- Real-time updates and information from GreenStone whether you’re in the field or at home
- Two-way instant communication
- Reminders about important deadlines
- Straight-to-the-point messages to save you time
This is just one more way GreenStone is meeting you where you’re at!
House hunting can be a very daunting task for some, while others may enjoy every minute of the search. Besides finding a realtor to help fulfill your wants and needs, it is also important to know what to expect from a lender. As a consumer, it is important to know what goes in to applying for a loan, what documentation your lender requires, and what to expect during the process.
What to Expect
There are three important things to know when applying for a loan:
- What you can afford for a down payment
- Your credit score and credit history
- What you can afford for a monthly payment
Down payment requirements differ from lender to lender depending on what type of loan you are applying for. GreenStone finances conventional loans with down payments starting as low as 5 percent, depending on the property that is being purchased.
Credit score/history is a vital factor lenders look at when determining your potential loan approval. GreenStone looks for credit scores of 680 and above; credit reports showing foreclosure or bankruptcy within 48 months, a short sale within 24 months, or a judgement, garnishment, or lien with a balance of over $250 may result in a denied application.
Debt to income ratio is also an integral part in determining your chances of being approved for a loan. GreenStone looks for a total debt load of no more than 40 percent of your gross monthly income. This calculation includes car loans, student loans, revolving credit cards, real estate loans (including taxes and insurance), and the new mortgage debt payment. Lenders generally can approve you for a loan much higher than what you need, but as a consumer it is very important to know what monthly payment is comfortable for you.
Documents Needed
When applying for a loan, whether it be with GreenStone Farm Credit Services or another lender, you need to be prepared to provide your lender with financial information. The financial information requested, by the lender, is to show proof of income and proof of assets. The following is the most common types of documentation requested by GreenStone:
- Paystubs or salary voucher for the last 30 day period
- Most recent two year’s W-2 statements or tax returns
- Most recent two months of checking and savings statements
- Most recent investment statements
If you are self-employed, additional documentation will also need to be provided:
- 2 to 3 most recent business and personal tax returns
- Profit and loss statement
- Balance sheet
Expectations
After a loan is approved, an appraisal and title work is ordered. In today’s market it is taking two to three weeks to get these items back from the external vendors that render the services. Once the title and appraisal are returned they will be cleared by our credit and legal department. The appraisal should come back with a value of at least the purchase price or the loan amount may need to be adjusted. The title work should also come back without any issues or exceptions. Once the legal and credit department clear these two items a closing date is set and your dream home is now yours!
When starting and maintaining an operation, it’s important to know your business’s financial position. A helpful tool to monitor your financial position is a balance sheet. The balance sheet can show your progress year-over-year and is something your lender may ask for on an annual basis.
A balance sheet, also known as a financial statement, contains assets, liabilities, and equity at a specific point in time.
Assets are anything that is owned by an operation or an individual and have a cash value. Liabilities are anything that is owed by an operation or an individual to a debtor. The equity of an operation is determined by taking total assets minus total liabilities.
Understanding assets and liabilities
When completing a balance sheet; you’ll want to break down assets and liabilities into “current” and “noncurrent” sections.
Current Assets are assets typically liquidated over the next 12 months. Some examples of current assets are cash and cash equivalents, accounts receivable, prepaid expenses, inventory (crop and/or market livestock), and supplies on hand.
Noncurrent Assets are typically thought of as long-term investments and will most likely not be liquidated in the next 12 months. Some examples of noncurrent assets are machinery and equipment, vehicles, buildings, real estate, long-term investments/retirement accounts, goodwill, and intangibles.
Current Liabilities are liabilities an operation will typically incur over the next 12 months. Some examples of current liabilities are property taxes, income taxes, payroll expenses, rent payments, accounts payable, current portion of principal payments, and accrued interest.
Noncurrent Liabilities are typically thought of as long-term obligations and not due within the next 12 months. Some examples of noncurrent liabilities are loans for machinery and equipment, vehicles, buildings, real estate, leases, and any deferred liabilities.
Keeping your balance sheet accurate
While the value for some assets will be straight forward; valuing other assets can be more challenging as market values are constantly changing. When valuing assets at market value, it is best to be realistic and not overstate values.
Here are some questions to ask yourself when updating your balance sheet when the market value is ever changing:
- Crop inventory – Do you have any contracts in place? Do you anticipate the current market price to remain steady? Is the market at a high or a low?
- Machinery and equipment or vehicles – What is the condition of your equipment compared to recent sales? What is equipment selling for in your area?
- Real estate – What kind of soil type is your ground? Is it tiled? What are recent sales in your area for similar ground?
Additionally, it’s important to have a detailed balance sheet. When referring to a detailed balance sheet; every category should list all specific items and a current market value for each item.
Some examples:
- Crop inventory – Itemize out each commodity (corn, wheat, oats, etc.) by appropriate measurement and market value.
- Livestock inventory – Itemize livestock by milking, heifers, calves, or by age, group/size and value each group by market value.
- Machinery and equipment or vehicles – A complete list of all machinery and equipment owned will ease the process of updating the balance sheet on an annual basis with items sold, traded and purchased.
To monitor the progress of an operation, it is best to update the balance sheet at the same time every year, which matches the business’s tax year end, typically Dec. 31. Updating the balance sheet every year will allow one to monitor how assets, liabilities, and equity changed from the previous year.
Eventually, trends can be seen when comparing year over year balance sheets, which may assist in making management decisions.
How to use it
Once you have your balance sheet completed; how do you know if your operation is healthy? For starters, these two basic items, focused on equity, are critical in understanding your operation’s financial status:
- Assets – Liabilities = Owners’ Equity
- Owners’ Equity / Assets = Owners Equity %
The amount of equity an operation has may vary based on the size and type of operation. If your equity is increasing, then you are most likely trending in the right direction. If your equity is not trending upwards or not where you’d like to see it; then debt paydown may be a focus before any other major purchases.
When your equity is lower than you’d like or not trending in a direction you’d want to see; then you can work with your business team and financial experts for assistance. Every operation is different, and the level of equity will vary, but most lender’s standard for Owners’ Equity is 50% or higher.
Getting started
There are plenty of online resources to get your balance sheet started. GreenStone’s team of experts are here to help you every step of the way with knowledge, resources, and experience. We are committed to supporting our young, beginning and small farmers as well as our established farmers. If you have any questions, contact your local branch today!
This article was originally published in Michigan Farm News.
When it comes to planning ahead and saving money, knowing all the hidden costs of owning a home is key in being fully prepared. Now that you are officially a homeowner or in the home buying process, you may be wondering what costs to expect.
When you are in the home buying process, there a few costs many people forget to include in the budget. Depending on your loan type, there will be a down payment necessary at closing. This cost can vary, often between 3.5 percent to 20 percent of the home cost. This can become a significant cost, making it important to calculate it into your costs when looking at homes. For example, if you are looking to buy a $100,000 property and put 20% down, that’s a $20,000 down payment. If you have only $20,000 saved, you’ll want to keep reading to learn about the other home cost considerations.
Many lenders also factor in something called reserves, commonly referred to as rainy day funds. It’s important for you to you have enough funds in case of an emergency. These reserves are usually considered two months’ worth of funds with all your monthly bills factored in, along with taxes and insurance, and any other debt such as a car payment, student loans, or credit cards.
During the loan closing process, there will also be closing costs. Closing costs are the fees accumulated during the loan process and transferring the property from seller to buyer. Fees may include appraisal, title, closing, flood, credit report, recording, survey, and inspection costs. Check with your mortgage lender and realtor to better understand the estimated costs.
Insurance is also necessary during the homebuying process. Before you can take out your mortgage, you must be insured. You’ll need to purchase homeowners’ insurance and provide proof to your mortgage lender. Don’t forget this is also a monthly cost! Property tax is another ongoing expense that can be overlooked. Varying from town to town, you’ll have a property tax payment that can be folded into the monthly mortgage payment.
The title of homeowner comes with a few more costs you must budget for. You are now in charge of your landscaping, trash service, all utilities, and necessary maintenance. Utilities such as water, gas, and electricity are monthly bills that can vary each month based on usage. Trash service and internet/cable are often set monthly bills that shouldn’t vary. Your mortgage payment along with taxes and insurance should also be included in your budget.
Landscaping is another forgotten cost that can quickly surprise you in the spring. Spring is also a good time to give your house a thorough check for any necessary maintenance; for instance, roof damage, HVAC repairs, and filter replacements.
Buying a home is no easy task, but our Financial Service Officers are determined to help you with every step along the way. While the loan process can feel overwhelming and vague initially, GreenStone has a no surprise policy. Our financial services officers will be as explicit as possible on the process and the costs. Our goal is to make this process as smooth and easy as possible for all buyers. Your team is ready to help answer your questions, reach out to them today!
In this behind the scenes, two GreenStone employees share how their role allows them to support rural communities and agriculture.
Collin Nurenberg
Financial Services Officer
Ionia, MI
5 Years of service
Describe how your role carries out the GreenStone mission of supporting rural communities and agriculture.
As a financial service officer, my role allows me to help provide products and services that allow our customers to succeed in both their operational and family goals.
What do you enjoy about your role?
The thing I enjoy the most about my role is the people I get to work with every day, both customers and coworkers.
What changes have been incorporated in your role to meet evolving customer needs?
A lot has changed over the past few years, but the biggest changes are probably the technology and increased flexibility. Both have allowed GreenStone to serve our customers better and in a more timely fashion.
What do you enjoy doing in your free time?
Spending time with family and friends, as well as working on our family farm.
Joel Norkus
Vice President of Lending
Grand Rapids, MI
5 Years of service
Describe how your role carries out the GreenStone mission of supporting rural communities and agriculture:
Most clients that I help fall into one of 2 categories. The first category is clients who are looking to purchase a specialized property (such as agricultural or recreational land), and they have been told that financing is unavailable by their residential lender. A big part of this group are clients who’s dream it is to build their own house in the country for their families and future generations to enjoy. The second category is current GreenStone customers who know and trust us for all of their financing needs. We are usually their first call if they ever need anything. Both types of clients are focused on preserving the agricultural and outdoor recreational culture in Michigan.
What do you enjoy about your role?
I really don’t know where to start! I’ve never been a part of an organization with such a loyal customer base. However, given GreenStone’s company culture, I am certainly not surprised. Our company research and surveys consistently show the highest levels of employee satisfaction, and this absolutely filters through to our clients. GreenStone has the best team that I’ve ever worked with. My time here has given me a real appreciation for Michigan agriculture and the outdoors.
In our current environment of consistently being surrounded by technology, it is extremely satisfying to assist clients with achieving their goals to be able to acquire an asset that allows them to ‘disconnect’, and enjoy time with their families in the beautiful outdoors. Almost every client expresses their wish to keep these properties in their family to be used for future generations, and this makes me truly appreciate the services I provide for them.
As I mentioned, many of my new clients are referred to me by other real estate professionals (realtors and lenders), and I’ve been fortunate enough to have created a local network that refers these clients directly to me when the situation arises. Instead of competing for business with other lenders, I find that they will refer clients to me when they know a GreenStone loan is a better fit.
What changes have been incorporated in your role to meet evolving customer needs?
A good number of my clients who are purchasing land now express a desire to build a home in the future. In these cases, I do my best to describe how construction loans work and what a construction loan might look like for them, even if the build won’t happen for years. Clients appreciate the education and helps them set personal financial goals in order to get to that point.
What do you enjoy doing in your free time?
Mainly, I love spending time with my family (Wife Amy, daughter Lilli, and son Jonah). As far as hobbies go, I have to admit that my main outdoor hobby consists of spending time on many of Michigan’s golf courses. In my spare time, I play guitar and have put together a pretty decent collection of guitars and amps. This year, I’ve even connected with an old high school friend to start a band. However, I don’t think I’ll be quitting my day job anytime soon!
To view the article in the online 2023 Spring Partners Magazine, click here.