Parting comments from President and CEO Dave Armstrong:
As most of you know by now, I will be retiring from GreenStone on July 31 and would like to share some final thoughts and introduce you to GreenStone’s new CEO.
First, time really does fly! I cannot believe where the last 41 years have gone. It seems the longer you live the faster it goes. Do your best to enjoy the ride (yes, even despite the myriad of challenges)!
Also, do not take anything for granted, especially those who are close to you, good health (if you are blessed to have it), enough to eat, a roof over your head and, yes, even having a dependable, competitive, and responsible source of credit and financial services delivered by people who are professional, knowledgeable, and have a passion for the agricultural industry.
For over 106 years the Farm Credit System (which GreenStone is a part of) has been there in good times and bad to provide the capital that fuels our nation’s agricultural industry. Without it, who would have provided the peace of mind farmers, ranchers, and other eligible borrowers have come to rely on (or maybe take for granted) for their operation’s credit needs year in and year out?
As I end my career, I could not be more confident in the System or GreenStone’s ability and commitment to continue carrying out its mission over the next century. With abundant levels of capital and risk bearing capacity, dependable low-cost sources of funding, a laser like focus on its mission, and dedicated people who strive to adhere to our Core Four Values of Customer First, Do the Right Thing, Deliver Quality, and Get Involved, it is well positioned for whatever challenge may come its way over the next horizon.
As of the end of June, GreenStone has over $2 billion of capital and allowance for loan losses to sustain it through troubled times; the portfolio has nearly an all-time low level of adversely classified assets of just 1.6% (this was as high as 50% in the 1980’s), strong earnings, growth, and a customer satisfaction score of 95% satisfied or very satisfied. Nearly every key performance indicator is at or near historical highs positioning it to return high levels of Patronage back to customers for the 17th year in a row!
This kind of performance year in and year out is the result of a focused and dedicated team effort. I have been blessed to have worked with some of the best and brightest people I have ever known and have absolutely no doubts they will continue to perform at a high level well after I am gone, because long term, consistently high performance is well beyond any one person.
GreenStone’s next CEO is one of those people; I have been blessed to have worked closely with him since 2007. He is passionate about the agricultural industry and GreenStone with nearly 15 years as its CFO, making him uniquely qualified to lead GreenStone in the decades to come. I could not be more pleased to be handing over the reins to someone of his character and professional abilities. He has been a close advisor to me and someone whose input I sought before making key decisions. His humble, down to earth, approachable style and professionalism have earned him the confidence and respect of our Board of Directors as well as our 600 team members. It is my honor and privilege to introduce you to a valued colleague and friend, Travis Jones, as GreenStone’s next CEO!
Congratulations, Travis!
Introductory comments from incoming President and CEO Travis Jones:
During my recent interviews with our Board of Directors, I kept repeating how I believe GreenStone is the best Farm Credit association in the country. (And when I say that, I really mean we are the best financial institution in the country!) No other Association can compare to the combination of our financial performance, our customer satisfaction scores, and our employee engagement scores. Nobody. We didn’t get here by accident.
It starts with you, our customers, our members, our owners. You get up every day and work hard, feed the world and meet your financial obligations. No financial institution has the dedicated customers that we do.
Then we have an extremely dedicated staff of 600 plus individuals that come to work every day to meet our mission of promoting the success of our customers and the rural community. We do it the “GreenStone Way.” We follow our Core Four Values, which starts with Customer First. We do the little things and the big things every day to be a dependable, competitive and reliable source of credit and financial services. Finally, we have an outstanding Board of Directors, our coaches, to provide guidance and support to our strategy and vision.
GreenStone is a very special organization, and I am extremely honored to be succeeding Dave as CEO. Our management team tends to use a number of sports metaphors. Well, this feels a little bit like being named the starting quarterback of the New England Patriots after Tom Brady left. (It didn’t hit me until I typed this that their current quarterback’s name is also Jones.) With Dave leading GreenStone, we made the “playoffs” every year and won a handful of “championships”. Again, no other financial institution compares.
It is very hard to explain how much Dave means to me personally and professionally. I may not have been hired at GreenStone 15 years ago without his support. Since that time, he has become not only my boss, but my mentor and my friend. I have learned something from him each day during my career at GreenStone. How he treats customers, how he treats GreenStone teammates and how he supports agriculture. His dedication to GreenStone and agriculture in the states of Michigan and Wisconsin is almost impossible to match, yet all of us that have worked for him try. I know I wouldn’t have gotten appointed as the new CEO without his support, mentorship and guidance. Thank you, Dave, for everything!
Come August, your GreenStone team won’t have Tom Brady. But I can promise you we will continue to block and tackle, move the ball down the field and score a lot of touchdowns for our members. We will continue to work hard everyday to make the “playoffs” at the end of the year and win a few “championships” along the way.
Interest rates are going to rise, then eventually fall. The economy will slow and then grow. Input costs and commodity prices will be volatile. It will never rain exactly when we want it to. These things aren’t new. However, something else that isn’t new is GreenStone’s team will be here for you exactly when you need us to be, no matter what is happening with the economy, prices or the weather!
Best wishes for a safe and productive growing season! Please feel free to reach out to me any time if I can ever be of assistance.
Thank you for your business!
To view the article in the online 2022 Summer Partners Magazine, click here.
