FOR IMMEDIATE RELEASE
Contact: Lindsey Bliss
Communications and Public Relations Specialist
(517) 324-0213 | email@example.com
GreenStone Announces Record $36.2 Million Patronage Payment for Members
The cooperative has returned $200 million to its members over the last 10 years.
EAST LANSING, MICH. (Jan. 23, 2015) - GreenStone Farm Credit Services is returning a record patronage payment of $36.2 million to customers this year.2015 marks the tenth anniversary of GreenStone's patronage program, which rewards loyal members and benefits the local communities where they work and live.
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.
GreenStone will officially celebrate a decade of giving back this year on Patronage Day, March 18, 2015. On that day, eligible GreenStone customers can visit their local branch to collect their share of this year's record-breaking $36.2 million payment. Customers eligible to receive the patronage payments include anyone holding stock or participation certificates with GreenStone, which would include rural residential home loan customers.
Adding this year's payment to the previous nine years of patronage, GreenStone has returned $200 million to customers.
"We are very grateful for the hard work and commitment of our members," said GreenStone President and CEO Dave Armstrong. "Patronage Day is always a celebration, but this tenth year is particularly special as we hit the $200 million milestone."
All GreenStone branches will be open during normal business hours on Wednesday, March 18; customers are invited to visit their branch to pick-up their patronage check. Those checks not picked up on March 18 will be mailed to customers the following business day.
The cash patronage paid to each customer is based on the proportion of net-interest income earned during 2014 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 $7.3 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.