For Immediate Release
$29 Million Patronage Payment for Members
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.
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."
year's patronage payment, GreenStone has paid more than $163 million back to
members since the program began in 2005.
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."
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.
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
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.
GreenStone Farm Credit Services
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 www.greenstonefcs.com.
Jake Harris, Communications & Public Relations Specialist, firstname.lastname@example.org,