GreenStone Farm Credit Services has released its 2021 Annual Report with the theme focused on ‘Innovation’.
The report outlines the exceptional year the cooperative experienced in 2021, including net earnings of $264.7 million, as well as the $115 million GreenStone will give back to members as part of its Patronage program.
“We are experiencing one of the most difficult periods in our country’s history,” said GreenStone former president and CEO Dave Armstrong. “Despite all of the challenges associated with the pandemic, our members have been working hard and finding success. We’re happy we’ve been able to get through this together, due in part to using innovative strategies.”
The cooperative also saw solid growth within its loan portfolio in 2021, finishing the year with $12 billion in owned and managed assets. Achieving strong earnings is good news for members, as earnings allow the association to build capital for future adversity while maintaining a sound financial foundation.
In addition to financial results and performance, the report includes profiles of three customers who have been innovative in business, especially during the pandemic. It also includes information about GreenStone's score of above 90 percent customer satisfaction rating for the 20th year in a row.
GreenStone also reports on prioritizing our outreach efforts, partnering with hundreds of nonprofit and mission-focused organizations each year with both dollars and staff’s time and expertise. In total, nearly $625,000 was donated and 3,400 hours were volunteered by staff.
The report also outlines GreenStone’s expanded CultivateGrowth program, which now provides a broader, expanded foundation to help young, beginning, and small farmers flourish in their agricultural aspirations.
"I am incredibly proud to lead this organization, because our employees are completely dedicated to our members and communities,” said Armstrong. “We are happy to have a small role in helping Michigan and Wisconsin farmers and rural consumers achieve their personal and financial goals.”
