GreenStone Farm Credit Service’s Patronage Program is the result of the cooperative’s and members’ shared success and a reflection of the great things accomplished together. This year’s record breaking $105 million, nearly half of GreenStone’s 2020 profits, is going back to its 27,000 members in March 2021, because #PartnershipPays!
GreenStone is a cooperative established more than a 100 years ago for a specific purpose – to provide a dependable, competitive and responsible source of credit. Shared success is the foundation of the member cooperative, and while GreenStone has paid patronage for 16 consecutive years, this $105 million is especially significant given the 2020 turmoil of the pandemic and agricultural markets.
“I’m so pleased we were able to actually increase the amount of Patronage we’re paying back to our members this year, in a year of tremendous uncertainty. This is just a great example of how partnership pays at GreenStone,” says GreenStone President and CEO Dave Armstrong. He further explains the value of membership and the significance of patronage in this video to members: https://youtu.be/JxzUB96P7fA.
Identified as Patronage Week, March 8-12, 2021, GreenStone members will celebrate the benefits of their membership throughout the week, while also receiving a check for their portion of the $105 million being returned. All are invited to visit greenstonefcs.com/partnershippays or any of GreenStone’s social media channels throughout the week to hear from local staff and engage in the cooperative’s celebration.
In addition to the Patronage payment to members, GreenStone will also be paying appreciation forward through GreenStone’s Member Grown Outreach program, with a total of $20,000 in donations to strengthen partnerships with local organizations and charities. Members are encouraged to vote online to help direct the dollars to the nominated organizations: Macomb Charitable Foundation, F.R.E.S.H Project, and The Father Fred Foundation. Additional details on this customer driven program are on GreenStone’s 2021 patronage page: greenstonefcs.com/partnershippays.
“Our Member Grown Outreach program helps these local organizations make a significant difference in the lives of the communities we live and serve,” Dave explains. “Our staff embrace our cooperative value of getting involved, and each organization selected will be able to multiply the impact of our support, allowing GreenStone’s dollars and engagement to positively impact more individuals.”
The GreenStone board of directors approved this $105 million in patronage to be paid to its member-owners. This record-level of patronage brings total patronage payments to $605 million in the 16 years of the program. Across Michigan and northeast Wisconsin, 27,000 members of the cooperative will experience the Patronage benefit and receive a check.
About GreenStone Farm Credit Services
GreenStone Farm Credit Services, based in East Lansing, Michigan, is Michigan and northeast Wisconsin’s largest agricultural lender and one of the country’s largest associations in the Farm Credit System. A member-owned cooperative, GreenStone owns and manages more than $11 billion in assets and serves over 27,000 members with 36 branch locations in Michigan and northeast Wisconsin. More information on GreenStone is available at www.greenstonefcs.com.
