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GreenStone Announces $29 Million Patronage Payment for Members

Wednesday, January 22, 2014   (0 Comments)
Posted by: Michelle Rahl
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For Immediate Release

GreenStone Announces $29 Million Patronage Payment for Members

EAST LANSING, MICH. (Jan. 22, 2014) - 2013 was a prosperous year for farmers throughout Michigan and northeast Wisconsin. That success translated into record earnings for GreenStone Farm Credit Services and the cooperative has again elected to pay a portion of those earnings back to eligible members on what has become known as Patronage Day.

On March 19, GreenStone members can visit their local branch to collect their share of this year's record breaking $29 million patronage payment. The payment - the largest in the nine year history of the patronage program - equates to roughly 21 percent of the cooperative's net earnings.

"Patronage Day has been a day of celebration for our member-owners, and has allowed GreenStone to give back to those who work tirelessly to ensure we all enjoy an abundant and secure food supply," said GreenStone President and CEO, Dave Armstrong. "We are all very thankful for the hard work and success of our members."

With this year's patronage payment, GreenStone has paid more than $163 million back to members since the program began in 2005.

"The goal of the patronage program is to reward our loyal members and benefit the local communities where they work and live," said Armstrong. "Our members' communities are our communities, and by putting more than $163 million into these local areas over the past nine years we hope to have had a positive impact in the lives of those living in the area."

As a cooperative, GreenStone's success is directly linked to the organization's 23,000-plus hard working members throughout Michigan and northeast Wisconsin. That success has allowed GreenStone to share its net earnings with members through a patronage refund, while also building capital to continue providing exceptional service to members, in good times and challenging times, for generations to come.

All GreenStone branches will be open during normal business hours on Wednesday, March 19; customers are invited to visit their branch to pick-up their patronage check. Those checks not picked up on March 19 will be mailed to customers the following business day.

The cash patronage paid to each customer will be based on the proportion of net-interest income earned during 2013 on his or her loan to the total patronage based net-interest income earned by the association.

About GreenStone Farm Credit Services

GreenStone Farm Credit Services, based in East Lansing, Michigan, is Michigan and northeast Wisconsin's largest agricultural lender and the country's sixth largest association in the Farm Credit System. A member-owned cooperative, GreenStone owns and manages approximately $6.9 billion in assets and serves more than 23,000 members with 36 branch locations in Michigan and northeast Wisconsin. More information on GreenStone can be found at


Contact: Jake Harris, Communications & Public Relations Specialist,, 517-324-0213

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