The cooperative has returned $235 million to its members over the last 11 years.
GreenStone Announces $35 Million Patronage Payment for Members in its 100th Year
GreenStone Farm Credit Services officially celebrates Patronage Day on March 23, 2016, while also commemorating the association's centennial anniversary. On that day, eligible GreenStone customers can visit their local branch to collect their share of this year's $35 million payment.
As a cooperative, GreenStone's success is directly linked to the organization's nearly 24,000 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.
"Because GreenStone is owned by the hardworking people we support, we are able to return $35 million of our net earnings back to our members. That is 25 percent of the cooperative's net earnings going back directly to our members," said former President and CEO Dave Armstrong. "As a financial cooperative, GreenStone is committed to remaining a stable, reliable association that will continue to be here, supporting our members through all cycles of the agricultural economy. We can't imagine a better way to celebrate our 100 years than giving back millions to our members who have helped us achieve this significant milestone."
The cash patronage payment is based on the amount of net interest income earned on each eligible customer's loan during the year.
GreenStone Announces $35 Million Patronage Payment for Members in its 100th Year
GreenStone Farm Credit Services officially celebrates Patronage Day on March 23, 2016, while also commemorating the association's centennial anniversary. On that day, eligible GreenStone customers can visit their local branch to collect their share of this year's $35 million payment.
As a cooperative, GreenStone's success is directly linked to the organization's nearly 24,000 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.
"Because GreenStone is owned by the hardworking people we support, we are able to return $35 million of our net earnings back to our members. That is 25 percent of the cooperative's net earnings going back directly to our members," said former President and CEO Dave Armstrong. "As a financial cooperative, GreenStone is committed to remaining a stable, reliable association that will continue to be here, supporting our members through all cycles of the agricultural economy. We can't imagine a better way to celebrate our 100 years than giving back millions to our members who have helped us achieve this significant milestone."
The cash patronage payment is based on the amount of net interest income earned on each eligible customer's loan during the year.
