Recognizing the Strength of Partnership in 2024
This past year marked another milestone for GreenStone. We are proud to share 2024 was a record year, with net-income reaching $297 million resulting in a strong return on assets of 2.2%. We continue to be one of the most efficient stewards of capital in the Farm Credit system. In addition, Credit quality of the portfolio is another measure that we watch closely, and we are pleased to end the year well positioned to support our customers in whatever may lie ahead. These achievements underscore the trust our customers have in us and position us with the financial stability to support your success in the future.
Beyond the financial numbers are the people at the heart of what we do – our members and our employees. We are very proud our customers are 96% satisfied with GreenStone, 74% of them being very satisfied. That result is a multi-year trend which tells us our people – our employees – are living our CoreFour values every day. Our success is tied to the success of our members, and our team is here helping them evaluate options, realize dreams, and emerge even stronger. A particular highlight is our Hart branch team, noted later in this publication, which achieved a remarkable milestone of 100% customer satisfaction for the third consecutive year. (We have nine other branches that were able to achieve a 100% score in 2024!) As you’ll also read in a member story on the next pages, this achievement reflects the dedication and commitment of our employees, who embody GreenStone’s relationship-based values in every interaction.
Celebrating the Power of Partnership through Patronage
We mentioned a year of strong results and milestones, and we’re excited to celebrate an extraordinary one with our Patronage program putting more than $1 billion dollars back in our members hands - $1 BILLION! 2024’s strong financial results allowed the cooperative to again return $120 million of our net profits back to our members, resulting in $1.08 billion being returned over the 20 years of the Patronage program.
Personal relationships and partnerships with our members define GreenStone. They are what make this partnership pay, not just in dividends but in the shared journey of building thriving businesses and strong communities. It’s the result of a million conversations and dreams, the handshakes and smiles shared, and the relationships built that we’ve been lucky enough to be a part of for over a century. Just like the one you’ll read about in this annual report, a longstanding Wisconsin member who has realized the benefit of partnership on his farm all 20 years of Patronage returns. The ability to give back through Patronage is a direct result of your success and the trust you place in us. Together, we have created a legacy of growth and resilience.
Benefiting through Partnership with our Communities
Beyond providing credit and financial services, GreenStone remains deeply connected the communities we serve. In 2024, our outreach efforts included thousands of volunteer hours, significant financial contributions, and partnerships with numerous organizations as highlighted in the coming pages. Through these efforts, we provide resources, training, and support that empower our customers to navigate economic cycles and business challenges successfully; engage our youth and teach skills as the foundation for our future leaders, neighbors and customers; offer specialized programs, flexible financial solutions, and tailored guidance designed to help young, beginning and small farmers establish and grow their operations; and partner in our communities to build the programs to strengthen our vital rural communities.
Preserving Partnerships for the Future
As we move through 2025 and beyond, we are mindful of the cyclical nature of the economy. While profitability may become more challenging for some, opportunities remain, including our opportunity to strengthen relationships with customers and help them navigate the challenges, just as we have before. With proactive and transparent communication, the cooperative’s strong financial base and proven experience has us prepared to help customers make informed decisions. Partnership with our cooperative is about more than a loan or service, it’s about a relationship and commitment that stands strong today and for the days to come!
