GreenStone Farm Credit Services is pleased to announce the release of its 2024 annual report themed “Strength in Partnership.” The report details the growth, resilience, and strength of the relationships the cooperative fosters with its member-owners.
Included in the report are several milestones, including a record year for net income at $297 million, the second consecutive year of a 96% customer satisfaction, and another $120 million returned to GreenStone’s members in the form of Patronage marking over $1 billion total returned over the past 20 years.
In addition to the solid financials, under the theme “Strength in Partnership,” the report shares the stories of a longtime member and dairy farmer who has received Patronage returns for all 20 years of the program, as well as a second-time home construction customer with GreenStone as he sets out to build his family’s forever home.
GreenStone’s partnership with its members is built on strong relationships, which is highlighted through a story of GreenStone’s Hart branch sharing their dedication to the success of their customers.
“We are thrilled to report a number of milestones this year, underscoring the strength of our cooperative system and the valuable relationships we have with our members,” said CEO and President Travis Jones. “Our team prioritizes maintaining an open line of communication with our customers so we can continue to provide our members with solutions tailored uniquely to them.”
GreenStone’s return on assets reached 2.2% as a result of its record-breaking net income, and its loan portfolio showed solid growth in 2024. The cooperative’s credit quality also remained strong. This continued performance is a testament to the success of GreenStone’s members over the past year.
Other financial highlights in this year’s report include:
• Net Income: $297 million
• Total Assets: over $15 billion
• Total Loan Growth: 5.9%
• Patronage Paid: $120 million
“The strength of our partnership with our members propels us forward, as our customers remain resilient despite experiencing rising inflation, interest rates, and overall higher input costs,” said Executive VP and Chief Financial Officer Kim Brunner. “We are committed to continuing to grow alongside our members.”
The full report can be viewed here.
