Our Story: GreenStone's Annual Report Shows Record Net Earnings in 2012

EAST LANSING, Mich., April 1, 2013 /PRNewswire/ -- GreenStone Farm Credit Services has released its 2012 Annual Report, Our Story. The report highlights the exceptional year the association experienced in 2012, including the cooperative's record net earnings of $126.2 million. Our Story can be viewed and downloaded on the association's website, www.greenstonefcs.com.

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"GreenStone's success is a testament to the hard work of our members throughout Michigan and northeast Wisconsin," said GreenStone President and CEO, Dave Armstrong. "In 2012, many of our members faced a variety of circumstances beyond their control, but were able to persevere and make the most out of what could have been a devastating year."

The cooperative also saw exceptional growth within its portfolio in 2012 finishing the year with $6.4 billion in owned and managed assets, and posting 8.7 percent loan growth over 2011.

In addition to financial results and performance, Our Story highlights the diversity of GreenStone's 23,000 members, including profiles of five customers from throughout the association's territory. The report also includes details about GreenStone's impressive 97 percent customer satisfaction rating and industry-leading crop insurance team.

The volunteer efforts of GreenStone's dedicated staff are featured in the report, including the story of employee Cheryl Carlton who volunteers at Ele's Place – a community organization for grieving children – in Lansing, Michigan. In total, GreenStone employees recorded spending more than 3,000 hours volunteering with a diverse group of organizations and causes throughout 2012. Additionally, GreenStone provided more than $670,000 to a variety of organizations in the form of sponsorships, scholarships, youth event support, educational outreach, and more.

"The dedication our 475-plus employees show to our customers and the rural communities served by GreenStone makes me incredibly proud to lead this organization. The future of agriculture in Michigan and Wisconsin is bright, and we are honored to play a small role in the overall success of this vital industry," stated Armstrong.

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 $6.4 billion in assets and serves more than 23,000 members with 37 branch locations in Michigan and northeast Wisconsin. More information on GreenStone can be found at www.greenstonefcs.com.

Contact: Jake Harris, Communications & Public Relations Specialist, [email protected], 517-324-0213

SOURCE GreenStone Farm Credit Services