GreenStone Farm Credit Services

Background

Established in 1916, GreenStone Farm Credit Services is a member-owned cooperative headquartered in East Lansing, Michigan. As Michigan and northeast Wisconsin's largest agricultural lender, and the seventh-largest association within the Farm Credit System, GreenStone manages over $14 billion in assets and serves approximately 28,000 members through 35 branch locations.

Mission: To promote the success of customers and the rural community by providing consistent credit and sound financial services.

Vision: To be rural America's first choice for financial services.

Core Values:

Customer First

Deliver Quality

Get Involved

Do the Right Thing

Key Strategic Focus

GreenStone specializes in offering a comprehensive suite of financial services tailored to the agricultural sector, including:

Short, intermediate, and long-term loans

Equipment and building leases

Life and crop insurance

Accounting and tax services

Appraisal services

Additionally, GreenStone provides residential and country home loans, facilitating the purchase, improvement, construction, or refinancing of residences, as well as financing for future home sites and recreational land.

Financials and Funding

As of January 2025, GreenStone reported annual revenues of approximately $264.7 million, with a workforce of around 780 employees. Operating as a cooperative, GreenStone returns a portion of its earnings to its members. In 2023, 40% of the profits were distributed to members through Patronage checks, totaling over $960 million since the program's inception 19 years ago.

Leadership Team

Travis Jones: President and CEO

Paul Anderson: Executive Vice President and Chief Credit Officer

Steve Junglas: Executive Vice President and Chief Information Officer

Beth Barker: Executive Vice President and Chief Human Resources Officer

In August 2023, Dave Armstrong retired after 41 years of service, with Travis Jones succeeding him as President and CEO.

Competitor Profile

Market Insights and Dynamics:

The Farm Credit System, established in 1916, is a nationwide network of borrower-owned lending institutions providing over $373 billion in loans, leases, and related services to the agricultural sector.

Competitor Analysis:

GreenStone's primary competitors include:

Farm Credit Mid-America: Serves farmers and rural residents across Indiana, Ohio, Kentucky, and Tennessee.

AgAmerica: Specializes in agricultural land loans across the United States.

Camino Financial: Provides small business loans, including to agricultural enterprises.

These competitors offer similar financial services, targeting the agricultural sector with various loan products and financial solutions.

Strategic Collaborations and Partnerships

GreenStone actively collaborates with organizations such as the Michigan Farm Bureau and Michigan State University Extension, enhancing its outreach and support to the agricultural community. The cooperative is also a Gold Star Partner of the Michigan FFA Foundation, investing in youth-focused organizations to develop future agricultural leaders.

Operational Insights

GreenStone's member-owned cooperative structure ensures that customers are also stakeholders, fostering a strong community connection. The cooperative's commitment to returning profits to members through Patronage checks underscores its dedication to member success. Additionally, GreenStone's involvement in community initiatives and partnerships with educational institutions positions it as a leader in supporting agricultural development and education.

Strategic Opportunities and Future Directions

GreenStone's focus on supporting young, beginning, and small farmers through programs like CultivateGrowth provides financial and educational resources to nurture the next generation of agricultural professionals. By embracing digital outreach and innovative partnerships, GreenStone aims to expand its services and continue its mission of promoting the success of its members and the rural community.