GreenStone Farm Credit Services is pleased to announce the release of its 2023 annual report: Your First Choice. The report outlines a strong financial status, record net earnings and the cooperative’s commitment to its members and communities it serves.
The report follows the theme “Your First Choice,” a nod to GreenStone’s vision statement to be rural America’s first choice for financial services. It goes beyond the solid financials to share stories of a multi-generational farm acquiring crop insurance which helped their bottom line, along with a family’s path to their dream home.
The report also outlines how GreenStone’s culture cultivates a positive work environment, which in turn, creates a seamless and friendly customer experience, and how GreenStone gives back time and dollars to the local communities it serves.
“Our team has produced strong earnings and solid loan growth over the past year. Our most recent customer satisfaction survey found that 96% of our members feel satisfied with GreenStone. That’s a testament to the hardworking team here, and I am proud to lead them,” remarked President and CEO Travis Jones. “I’m even more proud that we serve the hardest working Americans: our members in rural America.”
GreenStone’s loan portfolio grew nearly 8%, along with solid performance in crop insurance and tax and accounting services. Additionally, $120 million of profits were once again returned to GreenStone members, through the cooperative’s Patronage program – totaling more than 40% of GreenStone’s net profit from the past year.
“When our customers are doing well, we are doing well, and that means money back in their pockets,” said Jones. “We remain committed to our customers, and always have their best interest in mind. I am proud that more than 28,000 people choose GreenStone as their first choice for financing in rural Michigan and northeast Wisconsin.”
Other financial highlights in this year’s annual report include:
- Net income: $285 Million
- Total Assets: $14.4 Billion
- Patronage Paid: $120 Million
You can read the 2023 annual report in its entirety here.
