Partners Fall 23

Promoting the business success of our customers and the rural community

SMALL GAINS: Fall Market Outlook CROP INSURANCE CUSTOMER FEATURE LAND VALUE BENCHMARK STUDY

TECH TIP: Wire Fraud What You Should Know

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HUNTING TIPS FOR FALL CUSTOMER SATISFACTION RESULTS

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CultivateGrowth Spotlight:

Green Vale Farm

FALL 23 5 YBSF Feature. Most would argue that raising a ten-month-old baby is no walk in the park. Operating a cattle operation, on-site creamery and farm store is no easy feat, either. Heidi Hendrickson, a young farmer in Coopersville, Michigan is doing all of those things -- simultaneously. And she's doing them well.

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23 GreenStone Story I. GreenStone operates on a set of four core values – one of which is “Deliver Quality.”

By putting an emphasis on engaging and developing our employees, we are able to be the best team possible.

25 GreenStone Story II. As he marks his one year anniversary, GreenStone’s President and CEO, Travis Jones, has taken the challenge of his role head-on.

31 Country Living Feature.

Ryan Schomaker accomplished his dream - he and his wife Taylor purchased his grandmother's farm and built a home on the property to raise their family.

39 Crop Insurance Feature.

In West Olive, Michigan, you will find a farm that’s doing something a little differently – Organic Blueberries, LLC.

3 CEO Comments.

President and CEO Travis Jones unpacks predicted fall yields and touches on recent customer satisfaction results.

11 Guest Article.

An update on two environmental issues affecting agriculture.

13 Market Outlook.

The U.S. Economy has fared better than predicted with either a mild recession, or even avoidance of a recession, being real possibilities.

36 10 Hunting Tips.

Deer hunting season is upon us. Make it the best hunt yet by following these tips to keep you safe, and support those around you!

37 5 Ways To Give Back This Holiday Season.

Here are some ways that you and your family can give back to your community during the holiday season.

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Tax Feature.

As we get close to the end of the year, now is the time to start thinking about how to minimize your tax liabilities.

21 Land Value Study.

GreenStone’s appraisal team has completed a yearly land benchmark study, and the results ring positive for land owners in Michigan and northeast Wisconsin.

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Tech Tip. Staying safe from wire fraud means you need to recognize these common scams and their trap.

27 Directors’ Perspective.

In August, GreenStone’s board of directors and executive team held a joint board meeting with neighboring association Farm Credit Illinois.

8 Agriculture Blog Brief

29 Legislative Matters.

Emotions have overcome logic as leaders make efforts to settle politically charged issues, including food and agriculture policy.

30 PAC Progress.

Strong relationships continue to be built to support rural communities and agriculture.

35 Guest Column.

Jordan Browne was able to purchase his dream property, thanks to a very generous land owner and GreenStone Farm Credit Services.

9 Young Beginning Small Farmer Resources 16 MAEAP Program 16 Member News 18 Calendar of Events 19 Behind the Scenes 24 Candid Comments 26 Pause for Applause

Publisher’s Note: Community – where would we be without it? We often choose our community before we ever look at property to call home. We evaluate a team or organization based on the community it has created. We rely on our community of peers to support and inform us.

This fall I’ve been reminded how special “community” is.

From tragedy in our high school, to encouragement within our sports teams, to a loss within our own GreenStone family, to comradery between neighbors, to support amongst farmers – community is there for all the ups and downs, and it can only be curated through a fellowship of like interests and mighty special people.

Community is all around us. Heidi Henrickson showcases hers with a constant flow of customers and helpers on and around her thriving farm and market (page 5). GreenStone’s CultivateGrowth resources emphasize networking and learning to broaden your community (page 9). And our customer satisfaction wouldn’t be anywhere near our strong results (page 16) without the engagement of our GreenStone team (page 23) and their partnership with our members and the many communities we serve.

Ryan and Taylor Schomaker felt a sense of community in Thomas Township and built their home to embed themselves in it (page 31). Organic Blueberries, LLC has adopted their community, not only providing wholesome products but a venue to come together to pick berries and learn about food and farming (page 39). Now a year at the helm, GreenStone’s CEO Travis Jones reflects on the community he calls home at GreenStone, and the pride he has in our culture rooted in the essence of community (page 25).

As we push through fall and into the holidays, may we each embrace the body of support, encouragement, and friendship around us. Whether you’re sitting in the tractor seat or behind a computer screen – take a moment to acknowledge and give thanks. And know your entire GreenStone community is sending each of you and your families wishes for a safe and plentiful fall.

Happy reading, – Melissa

34 Country Living Blog Brief 38 Commodity Cuisine...

Organic Blueberries Farm Cheesecake 41 Crop Insurance Calendar 42 Crop Insurance News 44 Tax Calendar

This newsletter is published quarterly for the customers of GreenStone Farm Credit Services.

Editorial Art & Design Amber Echlin William Eva Cassie Bowman Greg Ricker Emma Moore Markie Heideman Melissa Rogers Mia Vander Hoff Olivia Gallt

Partners GreenStone Farm Credit Services 3515 West Road East Lansing, MI 48823 800-444-3276 marketing@greenstonefcs.com

CEO Comments:

Fall Update I just want to begin by saying Thank You. I am lucky enough to have the best job in the world. I get to lead the best performing Farm Credit association in the country. I am blessed with the greatest customers any business could have and I get to lead a team of dedicated and knowledgeable staff that put our customers first every day.

I won’t have enough space in my comments to fully explain how well things are going with your cooperative, but know your cooperative is performing very well. I am proud to be part of GreenStone. Thank You for being a member/owner.

In my comments last quarter, the lack of rain was a major topic. Well, the Lord heard our combined prayers and came through with above normal rainfalls in July and August for most of our region. Crops currently look good. Even wheat came in better than expected.

That is based on every conversation I have had with a member, no matter where their farm is in Michigan or northeast Wisconsin. Actually, we have had a little too much rain for some crops. Michigan Sugar Company is reporting the excess rain is currently producing a high tonnage sugarbeet crop but with low sugar content. Beet growers are hoping for a dry, sunny fall to slow tonnage growth and improve sugar concentration.

However, the USDA is projecting Michigan’s average corn yield to be up a couple of bushels per acre compared to last year and the average soybean yield to be down only one bushel per acre. Not too bad considering where we started!

Good yields will be important this year as prices have certainly fallen for a number of commodities, including corn. The USDA is predicting a 25% decrease in net farm income in 2023 compared to 2022’s record year, adjusted for inflation. While it is never fun for any individual or business to have their income reduced by 25% from one year to the next, the USDA does report that, adjusted for inflation, projected net farm income in 2023 would still be nearly 23% above the 20-year average.

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A couple of things I most like to do is conduct customer visits and branch visits. From April through mid-September, I have been able to meet with at least 15 customers on their farms and I have visited all 35 of our branches. I can’t think of a better way to hear from our customers and our employees on how things are going, both good and bad. From a customer standpoint, things seem to be going pretty well and they seem very happy with our cooperative.

As a matter of fact, in July we received our customer satisfaction survey results. We are very pleased to report our numbers improved from last year’s already strong numbers. 96% of our customers are “satisfied” and “very satisfied.” That is up from 95% last year. In addition, 74% of our customers were “very satisfied.” That result was an all-time high for GreenStone. Thank you to those of you who took our annual randomized survey and thank you for the ratings!

These results don’t happen by accident, however. Our staff consistently follow our CoreFour Values: • Customer First • Get Involved

• Deliver Quality • Do the Right Thing

We wouldn’t have very satisfied customers if our employees didn’t follow these values. While it seems to just come naturally to our staff, I don’t take it for granted. I want to thank all of my teammates for these outstanding results!

On August 21, 22 and 23, the GreenStone Executive Team and our Board of Directors had our board meeting and our annual planning meeting at Fair Oaks Farms in Indiana. We held our meeting there as a more central location as we actually had a joint meeting with Farm Credit Illinois during the first two days of our meetings. Farm Credit Illinois has $5.9 billion in assets and serves the southern half of Illinois. It is the twelfth largest Farm Credit association in the country.

(GreenStone has over $13.5 billion in assets and is the sixth largest Farm Credit association.) Our executive team and board thought this would be a great opportunity to get to know our counterparts from another association and use the opportunity to share our successes and challenges. We each discussed how we serve our customers, our technology strategies and other topics. (I also had to take a few minutes to brag about the performance of your cooperative.) Both groups also got to hear a presentation from Brett Sciotto, CEO of Aimpoint Research, on the Future State of Lending. I thought we had a great meeting and really enjoyed our time with Aaron Johnson, CEO of Farm Credit Illinois, and with his executive team and board of directors.

After 25 years of service to GreenStone and 35 years as an HR professional, Beth Barker, Executive Vice President & Chief Human Resources Officer has announced her retirement. Beth will retire on April 19, 2024.

Beth joined Farm Credit Services of Michigan’s Heartland on April 20,1998 as VP & Human Resources Director. In June of 1999, the four Farm Credit associations in Michigan began joint management and Beth was appointed head of Human Resources for the new entity. She was tasked with leading all human resources/ people-related activities for that merger as well as the merger of GreenStone and Farm Credit Services of Northeast Wisconsin.

Beth created our human resources and learning & development functions that we know today. She has worked passionately to create a culture and work environment that values and recognizes employees as key stakeholders in the growth and success of GreenStone.

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We are very pleased to report our numbers improved from last year’s already strong numbers.

96% of our customers are “satisfied” and “very satisfied.”

I continue to tell our employees, directors, customers and anyone I am in front of that GreenStone is the best Farm Credit association in the country when it comes to financial success, customer satisfaction and employee engagement. Beth has been a huge part of our success and will be missed after her retirement date.

Since becoming CEO a little over a year ago, I have been very lucky to have developed very strong relationships with some other CEOs in the Farm Credit System. A handful of the CEOs and their associations are partners in our technology and Capital Markets collaborations that GreenStone leads. Our partners are always very appreciative of the services we provide, and they help GreenStone defray some of our technology and staffing costs. This summer one of our partners, Farm Credit Services of Mandan, asked me, board director Mike Timmer, and Brad Wright, Senior VP of Capital Markets and AgriBusiness Lending, to attend their executive and director planning meeting. After our presentation, their board chairperson pulled me aside and said she “didn’t understand why an association would want to partner with anyone beside GreenStone.” That comment obviously made me very proud.

GreenStone recently received more praise from Greg Cole, CEO of AgHeritage Farm Credit Services. After a recent visit he sent me a note that included the following, “You guys have built one of the most high performing associations in the Farm Credit system.”

As I said in the beginning of my comments, I have the best job in the world to be able to lead this organization. I can’t be more proud of the positive comments I receive about GreenStone.

Please feel free to reach out to me any time if I can ever be of assistance. Thank you again for your membership and business!

Travis Jones

517-318-4144 travis.jones@greenstonefcs.com

Partners — Fall 2023

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Fall 2023 — Partners

GROW

CultivateGrowth Feature:

Most would argue that raising a ten-month-old baby is no walk in the park. Operating a cattle operation, on-site creamery and farm store is no easy feat, either.

Heidi Hendrickson, a young farmer in Coopersville, Michigan is doing all of those things -- simultaneously.

And she's doing them well.

Heidi says the secret to juggling it all is having the drive and vision for what you do.

“I believe that whatever you’re passionate about, you can do,” Heidi explained. “If there’s something you want to do, it is possible to do it. The only thing that is holding you back is yourself.”

Nothing is certainly holding Heidi back. She bought Green Vale Farm just last year after leasing the farm from her father for five years prior. The farm is rooted in rich history – founded more than 100 years ago in the 1920’s as a hobby farm for a banker. Now, the barns are filled with 550 cows along with pigs and chickens.

Heidi has a rich history in agriculture, too. Since she can remember, she was helping out on her father’s dairy farm milking cows.

“I grew up on the farm riding shotgun in my dad’s pickup truck. From as young as I can remember, I was working on the farm,” said Heidi.

That experience on the farm, along with some other opportunities in her youth, prepared her to take on such a large operation at a young age.

Heidi utilized GreenStone’s CultivateGrowth program, which is uniquely designed for young, beginning and small farmers, to take advantage of more flexible loan

➡ Since taking over the farm, Heidi has updated the barns on the property keeping with the traditional green paint color.

View a highlight reel video at: www.greenstonefcs.com/YBSFFall23 Partners — Fall 2023

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terms to help her get started. Her financial services officer, Joel Arends, noticed her devotion to success almost instantly when they met.

“She’s extremely hardworking,” said Joel.

“If I have a question for her, she’s always willing to take time out of her busy schedule to talk about whatever is at hand.

She has been very personable and easy to get acquainted with.”

customer service,” said Heidi. “Learning new things is one of my favorite parts.”

“My dad raised all of us seven kids with a very strong work ethic. We learned you do the job right and you do it until it’s done. There was a bar, and we were expected to live up to those standards,” Heidi explained. “Between my five part time jobs in high school, I was in some different work scenarios. I always knew that I wanted to work with something that was agriculture-based, yet something I could organize, make things, build things, and market things.”

Since taking over the farm, she has had the barns updated, expanded the storefront’s product line and hours, and makes cheese on-site.

Now, she’s doing all those things, but even with agriculture in her blood, leasing, and later owning, the farm came with some learning curves.

“I knew how to raise cows and do that side of things, but I had no experience running a business and very little experience with

“The cheese plant existed from the previous owners, but it wasn’t up to code.

My cousin decided he wanted to update the equipment and make cheese. That eventually fell through, but then my mother and I decided to get licensed and begin making cheese on our own and sell it at the storefront.”

After seeking advice from some other cheesemakers in the industry, that journey began. Now, the storefront offers an array of products - from blocks of cheese from her plant, to cheese curds, eggs, steak, beef sticks and sausage – all from the dairy and beef cattle on her farm.

The store also sells fresh ice cream from another local dairy farm, and during the autumn season, she raises turkeys to sell for Thanksgiving dinner.

The storefront and farm have been received positively throughout the community – which is important to Heidi, who takes her operation's brand and image very seriously.

“Once I opened the store, I learned I loved customer service and marketing and presenting my products well,” said Heidi.

“This is my image and my businesses’ image. I never want someone to see something and think poorly of me or my family.”

Heidi works extremely hard day in and day out, but she understands she cannot do it all without some help. Her three parttime employees, her parents, and even her retired neighbor all pitch in to help make Green Vale Farm a huge success.

“My neighbor became my adopted grandpa.

He was across the street and knew I was working early in the morning and wanted ➡ Heidi poses with her daughter, Sage, who is a big help on the farm! ➡ Financial Services Officer Joel Arends (L) visits with Heidi (R) at Green Vale Farm.

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to make sure I was safe being out there alone milking cows. He’s a retired cop and gave me his number and we hit it off from day one. He’s one of the best people in my life,” Heidi shared.

Another big part of her network are other young farmers. Heidi is part of a Farm Credit peer-to-peer group made up of young, beginning and small farmers in the Midwest financed through Farm Credit institutions. It’s those connections that help answer questions, share ideas and push through challenges.

“When you have something in common with somebody, and you are passionate about the exact same things, it makes everything one hundred times more enjoyable,” said Heidi. “I love meeting

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people and hearing about their businesses and learning new ideas.”

We can’t forget another extremely important part of her farm team – her ten-month-old daughter, Sage, who tags along during the day-to-day operations of the farm and is a welcoming face in the storefront.

“My farm and my business were my first baby, but my actual child is now my number one priority,” said Heidi. “If I can’t farm with my kid, I’m not going to farm, but I can’t ever stop farming, so I take my kid.”

GreenStone is proud to be a part of this important team, too.

“It really just comes down to relationships

and getting to know the individuals,” said Joel. “It’s not just part of what my job is, it’s part of who I am. I like to get to know people and their successes and hardships to be a partner of their business and help them achieve their goals and ambitions.”

We know Heidi has many more goals and ambitions to achieve in the years to come, and GreenStone will be there every step of the way.

“I think she is the type of person that will always continue to be moving forward and growing over the course of her business life,” said Joel. “She does a really good job and is very personable when working with other people.”

“If I look back to where I started, I have a lot to be thankful for,” Heidi reflected. ■

AGRICULTURE – OPEN FIELDS BLOG BRIEF GreenStone publishes regular updates on our Open Fields blog. Check out some of the posts you may have missed at www.greenstonefcs.com/openfieldsblog.

Embracing Education and Growth Caitlin and Larry turned to GreenStone's CultivateGrowth program to better understand their farm's financials.

Dollars and Sense: Leasing Facts to Benefit You With a lease, customers can preserve working capital.

A Mentor to Grow With Cassie Eadie joined the mentorship program to connect specifically with a female farmer.

Dollars and Sense: What is collateral, and why should I put up my assets to secure a loan?

Collateral is an extra layer of security for a lender to ensure there is less risk.

What is going on with QuickBooks?

The most commonly used accounting software system for GreenStone customers has made some changes. ■

➡T op Left: The Schultzes' australian shepherd, Miles. ➡B ottom Left: GreenStone financial services officer, Johnny Thompson, featured with Max and Halie Schultz

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Young, Beginning, and Small Farmer Resources:

FINDING FARM FINANCIAL SUCCESS: CultivateGrowth Grant

In northern Michigan, Caitlin and Larry McSweeney started an inspiring journey into sustainable farming in October 2017. Their farm, Danu Hof Farm and Market, is not just a business but a commitment to creating a better future for themselves, their children, and their community.

“There is always more you can learn about in farming,” Caitlin said. “The grant was really easy to apply to and didn’t take much time at all, especially compared to other grants. Anytime you can get an opportunity to be reimbursed for learning is great.”

The McSweeney family raises hogs, meat chickens, and various produce, participating in several farm markets each week. They also established a farm market on their property, collaborating with 17 local farms to offer fresh produce to the local community. To improve their farm's financial management, they turned to GreenStone and its CultivateGrowth program.

Armed with new insights, they overhauled their budgeting system, ensuring that each expense was aligned with their long-term goals. Regular monthly reviews of their financials empowered them to make informed decisions and optimize their cash flow. The course brought revamped their budgeting system, aligning expenses with longterm goals and not only brought financial stability but reduced unnecessary costs.

Caitlin learned about CultivateGrowth resources for young and small farmers from her loan officer and applied for the grant. With this support, she enrolled in Cornell University’s Holistic Financial Planning course, gaining a comprehensive understanding of their farm's finances and budgeting.

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GreenStone’s CultivateGrowth Grants are available to support young, beginning, and small farmers in various agriculture-focused educational pursuits.

Read more about Caitlin and Larry’s farm journey and GreenStone’s CultivateGrowth Grant program at www.GreenStoneFCS.com/CultivateGrowth. ■

Unlocking Knowledge and Connections:

2024 CultivateGrowth Conference

NAVIGATING THE LEARNING CURVE WITH CONNECTIONS: CULTIVATEGROWTH MENTORSHIP Cassie Eadie and her husband Andrew have very different agricultural backgrounds, with Andrew growing up on a dairy farm, while Cassie was completely new to farming.

They purchased E-D Farms from Andrew's parents, and Cassie sought to quickly learn the ropes of farming. GreenStone's CultivateGrowth Mentorship program provided a valuable opportunity for newcomers like Cassie to gain farming knowledge and she jumped at the chance to learn alongside a farmer with decades of dairy experience already under her belt.

Cassie joined the 2022-2024 CultivateGrowth Mentorship program seeking a female mentor with experience in human resources and employee management, leading to her pairing with Anna Link, a part-

owner of Swiss Dairy Farms.

Anna and Cassie meet frequently to maximize their experiencethe mentorship involves regular weekly meetings and monthly in-person sessions. Cassie highlighted the benefits of her mentorship, including assistance with her business plan, HR strategies, coaching employees, and gaining insights from Anna's farm.

“Anna’s been helping me with my five-year business plan, implementing HR management plans that our farm has been in need of and helping me to do ‘coaching vs. warning’ with employees,” Cassie says. “She gives me book recommendations on enterprises or how to run a profitable business and shares updates from her operation for ideas on what we could be doing.”

Cassie's farm operation improved significantly through coaching employees instead of resorting to warnings. Anna's mentorship also aided in the succession planning process for Cassie, her father-in-law, and her husband.

Cassie emphasized the value of mentorship for those, like her, who entered farming through marriage without prior agricultural backgrounds. Having a mentor provided essential guidance and support in her farming journey.

Cassie and Anna will continue to meet and look to one another for guidance until the program wraps up in Spring of 2024.

The next class of mentees and mentors will kick off fall 2024 but interested farmers can apply online at www.GreenStoneFCS. com/Mentorship. ■

GreenStone is helping young, beginning, and small farmers to embark on a journey of growth and networking at the 2024 CultivateGrowth Conference. For the second year, GreenStone’s conference is aimed at providing young, beginning, and small farmers with a platform to expand their networks and knowledge as they progress in their agricultural journeys.

This one-and-a-half-day event will feature a roster of distinguished speakers, an informative FSA update, insights from agricultural leaders, succession planning guidance, economic and industry updates from experts, and deep dive breakout sessions all designed to equip producers for a successful year ahead. Heavily integrated into the event is ample networking to help attendees facilitate connections and share experiences and wisdom.

The CultivateGrowth Conference is packed with a wealth of learning opportunities, chances for personal and professional development, and networking possibilities. ■

Partners — Fall 2023

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AN UPDATE ON TWO

Environmental Issues Affecting Agriculture

By Alan Hahn Environmental Scientist at Dragun Corporation Environmental Advisors

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For more than a decade, my colleagues and I have written for GreenStone on environmental issues that affect agriculture.

When driven by science, the awareness and appropriate response and management to these issues can help protect human health and the environment. Science-based management also provides appropriate regulation. However, as evidenced below, environmental issues are not just matters of science – they include legal, political, and emotional components as well.

Waters of the United States (WOTUS)

Earlier this year, the Supreme Court of the United States (SCOTUS) issued a decision on the Sackett II case regarding the Waters of the United States or WOTUS. While many legal pundits were anticipating the ruling in favor of the Sacketts, few expected the unanimous decision that a wetland is not a jurisdictional water.

Further, SCOTUS rejected the “significant” nexus definition as too vague. Note: For background see our April 2023 article in Partners.

With this SCOTUS ruling, the WOTUS rule issued on December 30, 2022, and published in January 2023 was now in need of revision. The Biden Administration set out to offer an updated WOTUS rule by September 1, 2023. Upon initial review, the newly-issued WOTUS rule (August 29, 2023), appears to be straightforward.

The new WOTUS rule revises the January 2023 text to remove all language pertaining to significant nexus. It deletes interstate wetlands from the category of interstate waters. It also amends the definition of “adjacent” to mean “having a continuous surface connection.”

At the time of writing this article, legal and technical reviews from those likely or potentially regulated under WOTUS seem to be generally pleased with the revised WOTUS rule.

A Note of Caution

One note of caution came from former Assistant Administrator for Enforcement and Compliance Assurance at the Environmental Protection Agency, Susan Bodine. Ms. Bodine, now a lawyer at B&W Law, notes: “Many concerns of the regulated community arise from interpretations found in the preamble to the January 2023 final rule. 88 Fed. Reg. 3004 (Jan. 18, 2023).

The preamble instructs the agencies on

how to identify a ‘tributary,’ a ‘relatively permanent’ water, and ‘a continuous surface connection,’ none of which is defined in rule language.”

PFAS

The potential presence of per- and polyfluoroalkyl substances (PFAS) in the environment is a growing concern, not just for typical manufacturing companies, but for everyone – including agriculture. Their widespread use in a host of industrial and consumer products has resulted in their presence around the globe in humans, animals, water, and soil.

PFAS are a concern because some of the PFAS compounds (there are thousands of PFAS compounds) are suspected of causing adverse health effects at very low levels (parts per trillion). However, there remains considerable uncertainty regarding which compounds and at what concentrations the effects are manifested, as toxicological studies are still not complete. In fact, if you go to the EPA’s PFAS website (epa.gov/ pfas/pfas-explained), the agency states that one of the things they don’t understand concerning PFAS is, “How harmful PFAS are to people and the environment.”

PFAS in Groundwater

There are two main ways that farms may be at risk of being impacted by these chemicals. First, groundwater can be impacted by military bases (and commercial airports) that used certain fire suppressants known as Aqueous Film Forming Foam (AFFF). This was the case for a dairy Concentrated Animal Feeding Operation (CAFO) in New Mexico. The farm, which used groundwater for crop irrigation and cow hydration resulted in the farm and the nearly 4,000 cows becoming an environmental liability, not an asset. The cows were subsequently euthanized.

Attorney David Crass (Michael Best) recently wrote, “Since 2021, the US Department of Defense (DOD) has notified nearly 4,000 agricultural operations of the potential for PFAS contamination in aquifers associated with military installations, adding nearly 400 new notifications in its most recent update.”

There has been some movement under the National Defense Authorization Act (NDAA) to allow for government funding to compensate farms impacted by environmental releases at military bases.

PFAS in Biosolids

Second, and the more common way farms have been affected is through land application of biosolids. Publically-owned treatment works (POTWs) that treated effluent from industrial dischargers that used PFAS (e.g., plating companies, paper companies, semiconductors, and more) may have PFAS in their biosolids. These biosolids in many cases have been land applied to farms – in many instances for decades. This was the case for several farms in Maine that unknowingly accepted PFAS-impacted biosolids. Because PFAS are extremely chemically stable compounds, they can persist for decades and even much longer. Thus, the nickname: forever chemicals.

In 2022, Maine became the first state to ban the land application of biosolids.

PFAS as Hazardous Substances

Finally, the pending federal legislation to make certain PFAS chemicals “hazardous substances” under the “Superfund” program could potentially have widereaching impacts. If finalized (it was delayed until February 2024), it may result in sites with the specific regulated PFAS above threshold quantities being labeled hazardous and would potentially establish liability and remediation obligations for current and former owners of these sites.

It appears that we are much closer to a final definition of a WOTUS but we will have to let some more dust settle before saying this with any certainty. The PFAS issue is more complicated and potentially more consequential. The regulated community needs a robust evaluation of the real human health and environmental risks associated with PFAS sooner than later.

These and other environmental regulations are becoming increasingly far-reaching and require close attention. ■ ABOUT THE AUTHOR

Alan Hahn has an undergraduate degree in Environmental Studies and completed a graduate program in Environmental Management. He has worked in environmental management for 45 years.

He has written hundreds of blogs and articles. In addition to GreenStone Partners, his published work includes Progressive Dairy, Manure Manager, Michigan Lawyers Weekly, Detroiter, Michigan Forward, and HazMat Magazine.

The opinions stated herein are not necessarily those of GreenStone Farm Credit Services.

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Fall Market Outlook:

Small gains...

By: Therese Hill, GreenStone Regional Credit Manager

The U.S. Economy has fared better than predicted with either a mild recession, or even avoidance of a recession, being real possibilities. The Real GDP, which grew at a rate of 2.4% in the second quarter of 2023, has now exceeded the 2.0% pace for four consecutive quarters.

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Inflation has decelerated which is leading households to see real increases in hourly wages and helping to support consumption growth. Year-Over-Year Headline Consumer Price Index (CPI) inflation has dropped from 8.9% in June of 2022 to 3.3% in July of 2023 due to a decline in energy prices and moderation in food prices as supply constraints have eased and commodity prices have fallen. Core Inflation, the measure of inflation with energy and food removed, has also declined, however not as significantly as Headline Inflation. The target rate for inflation by the Fed remains at 2% which is anticipated to occur late 2024 or into 2025.

The unemployment rate continues to remain tight in the 3.4-3.7% range since March of 2022. This is projected to drift closer to 4% with declining productivity metrics, lower quit rates, and pressure on corporate profit margins to slow hiring.

Unemployment is expected to rise to upper 3% or low 4% in 2024.

The Fed has raised interest rates 5.25% since March 2022. This is one of the sharpest rate hikes in the past four decades.

The market now anticipates another quarter hike this fall before pausing on additional rate hikes. If unemployment rises as anticipated, and with student loan debt repayment resuming this fall, it is anticipated that inflation will continue to trend positively towards its goal of 2%. This will allow the Fed to begin to cut interest rates mid-2024.

A concern for the U.S. economy as we head into the fourth quarter is the potential for a government shutdown due to contentious debates over the 2024 fiscal budget.

The agreement for capped discretionary spending averted a debt ceiling crisis earlier this year, however rating agency Fitch lowered U.S. rating from AAA to AA+ as a result. If there is a prolonged government shutdown from a budget negotiation

stalemate, it would reinforce Fitch’s rating and could potentially result in additional rating cuts. [1][2] WORLD ECONOMY: The goal for most

global economies has been to achieve sustained disinflation while ensuring financial stability. Thus far into 2023 most economies have been able to achieve that goal.

A look at global Headline Inflation shows a decline from 8.7% annual average to 6.8% in 2023 and projected 5.2% for 2024.

The build-up of natural gas inventory in Europe, weaker than anticipated demand in China, and lower global commodity prices have contributed to the significant decrease. With resolution of the supply chain disruptions that resulted from COVID-19, shipping costs and delivery times are back to pre-pandemic levels.

In addition, the service sector is driving increased economic activity with tourism returning to pre-pandemic levels. Core Inflation is declining more gradually than Headline Inflation, however, it is wellabove most central banks’ target rate. This more gradual decline in Core Inflation is pushing most central banks to continue to tighten monetary policy further to constrain economic activity.

In spite of the positive news of the decline in inflation, a number of risks continue to weigh heavily on the global economic outlook. These include extreme weather events, such as El Nino, which could exacerbate drought conditions and raise global commodity prices. Also the intensification of the war in Ukraine which could trigger rising food, fuel, and fertilizer prices due to supply chain disruptions.

As well as continued pressure on financial institutions which are subject to interest rate risk, especially in the commercial real estate markets. Additionally, if China’s recovery underperforms and fails to meet growth targets, it will negatively affect their trading partners.

AGRICULTURAL ECONOMIC OUTLOOK CORN: The August report reflects reduced

supply, lower domestic use, smaller exports, and tighter ending stocks.

The beginning stocks number from the 2022/2023 crop is adjusted higher by 55 million bushels given the reduction in both exports and the corn used for glucose, dextrose, and starch production. The 2023/2024 crop estimate is reduced from the July report by 209 million bushels, to an updated estimate of 15.1 billion bushels.

The forecasted yield has been adjusted to 175.1 bushels per acre, which is down 2.4 bushels from last month. This would be the second highest crop on record behind 2016/2017. With the revised lower total bushels produced, the projection of domestic feed and industrial use is reduced, as are exports. The result is lower ending stocks and an increase in seasonaverage corn price received by producers of 10 cents to $4.90 per bushel.

SOYBEANS: The August report indicates US

soybean supply and use changes include higher beginning stocks than previously projected. This is due to increased imports of the 2022/2023 crop. The updated yield projection has been reduced 1.1 bushels to 50.1 forecasted bushels per acre. With 82.7 million harvested acres estimated, this equates to a forecast of 4.2 billion bushels of soybeans 2023/2024. With this yield adjustment from the previous report ending stocks and exports have been adjusted lower. Estimated domestic crush remains unchanged. The season-average price for producers has been increased 30 cents to $12.70 per bushel for 2023/2024.

The soybean meal price is adjusted $5 per Partners — Fall 2023

14

short ton higher to $380 and soybean oil price is projected 2 cents per pound higher to 62 cents per pound.

WHEAT: The 2023/2024 outlook for the

U.S. is for decreased supply, slightly lower domestic use, and reduced exports which will result in an overall higher stock number. This higher stock number will remain under the five-year average and the projected 2023/2024 season average price remains unchanged at $7.50 per bushel.

It is a similar story globally for wheat with lower supply, lower consumption, decreased trade, and lower ending stocks.

Projected ending stocks are lowered .9 million tons to 256.6 million tons which is the lowest stocks since 2015-2016.

DAIRY: Producers have battled through

the summer months with some of the lowest national income-over-feed margins as used in the Dairy Margin Coverage

“

(DMC) since 2012. Cull rates climbed in the Upper Midwest as Region 5 (Illinois, Indiana, Michigan, Minnesota, Ohio, & Wisconsin) cow slaughter jumped 8.9% for June through Mid-August compared to levels a year ago. Producers continued to cull cows aggressively during July, and the milking herd will likely experience further contraction. The lower milk production also reduced dairy product inventories.

Many producers dipped into their liquidity that was built up from strong earnings in 2022 and Q1 of 2023. As of the start of August, Class III spot milk loads were no longer trading at a discount after the first half of the year, and have started to trade at a premium of around $1.00 per cwt. This can be attributed to a tightening milk supply. Dairy margins improved over the second half of August as a continued recovery in milk prices more than offset a slight increase in projected feed costs.

Dairy margins improved over the second half of August as a continued recovery in milk prices more than offset a slight increase in projected feed costs.

Futures also suggest a continued rebound in milk price with the average for Q4 hovering just over $19/CWT for Class III and $19.10 for Class IV. US dairy exports of cheese and butter are expected to be slower as US prices are quite expensive, with US cheese being the most expensive in the world. Despite that, domestic demand is strong for nearly all major dairy products.

CHICKEN: While live costs are seen

moderating, year to date production through July continued to exceed that of last year (RTC 103% YOY) which, along with higher YOY cold storage holdings, has been keeping downward pressure on the weighted average national composite whole broiler price. The exception to this is jumbo BSB and wings where (ostensibly) increasing demand has begun to put upward pressure on those markets. Meanwhile, exports into Mexico continued to climb through June however this increase was almost entirely offset by reduced volumes into other key export destinations. In turn, leg quarter markets are currently holding steady however USDA projects declining overall export volumes for the remainder of 2023. While integrator profitability will likely remain challenged through the remainder of this summer, for its part, USDA is projecting a “retrenchment [of production]” later this year and into 2024 which could imply improving balance between supply and demand (and therefore wholesale pricing) in the months to come.

PORK: Cash hog prices were stable in the

first half of 2023, but significantly below production costs. High feed costs remain the key profitability issue for producers, but non-feed expenses have also risen.

Cash markets improved through the summer to slightly profitable levels. Hog futures contract prices have been quite volatile throughout 2023 with a sharp decline in mid-Q2 followed by a significant rally in early Q3. However, more recently futures have been in decline. Export demand has been strong (up nearly 9% through Q2 v. 2022), but domestic demand has lagged. 2023 US pork production has been above 2022 levels. Losses over the past 12 months is triggering contraction of the US sow herd, which is providing optimism for 2024 profits, along with the recent drop in feed costs and expectations of lower feed costs next year.

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Fall 2023 — Partners

CONNECT

NEWS: Putting Our Customers First:

GreenStone sees Increase in Customer Satisfaction Score GreenStone is proud to earn a 96% customer satisfaction rate from our customers, up from 95% in 2022. This year’s customer satisfaction score for GreenStone marks more than 20 years with a score above 90%.

“Our relationship with our customers is extremely important to us – it's a key part of our culture. We are proud to be meeting their expectations and see their satisfaction increase even beyond our longstanding strong results,” said President and CEO Travis Jones. “We make it our mission to put our customers first and deliver quality results day in and day out.”

related to the culture of GreenStone,” said Jones. “It is clear our staff have a deep care for serving rural communities in Michigan and northeast Wisconsin. We work hard to provide speedy service and a seamless customer experience, and we are proud to see that the speed of our service, coupled with our relationship focused people, was highlighted in positive feedback from customers in the survey.”

GreenStone’s customers also provided feedback on our Patronage program mentioning the

benefit of being a part of a cooperative that gives a significant portion of its earnings back in the pockets of its members. This year, GreenStone returned $120 million back to our members, which is more than 40% of our net earnings from 2022.

“It’s important for us to be able to give these earnings back to our customers,” said Jones.

“Our customers are our owners and we take every opportunity to celebrate our partnership – and the benefits of the cooperative - with them.” ■

The customer satisfaction survey uses a seven-point scale for measurement, from “dissatisfied” to “very satisfied.” This year, GreenStone’s “very satisfied” results also climbed to 74%, up from 72% in 2022. This is an all-time high score for the cooperative, and a testament to the quality of service our staff works hard each day to deliver.

GreenStone remains committed to being a go-to-lender for farms, agribusinesses and rural customers. Satisfaction scores for each business segment again showed strong results at or above last year’s scores.

Other areas GreenStone saw an increase in satisfaction include the effectiveness of credit staff, communication with customers, being a lender that understands agribusiness, and having a local branch that is easy to get to and utilize. Each of these independent performance scores sat at more than a 94% satisfactory score.

More than three quarters of participants provided candid comments about the cooperative in their survey. Comments about the speed and convenience of service, and the kindness, knowledge and accommodating nature of GreenStone’s employees were pervasive throughout the results.

“We saw very few comments about numbers and loan products, and far more comments Partners — Fall 2023

16

GREENSTONE'S DEER CHALLENGE: HUNT, WIN, AND CASH IN! Join in the excitement of hunting season and have a shot at winning cash for your deer in GreenStone's Annual Deer Challenge!

For more than a decade, and once again this hunting season, GreenStone is offering a grand total of $1,000 in cash rewards as part of the Annual Deer Challenge. Hunters from northeast Wisconsin are encouraged to take part for the opportunity to earn substantial rewards until Friday, December 1, 2023.

Along with the grand prizes, all entrants who harvest a deer with any legal gun, bow, muzzleloader or crossbow will be entered into a drawing to win a game camera or a $25 gift card. Trophies will also be awarded to junior hunters who harvest their first deer.

The challenge features both adult and junior classes, with grand prizes awarded in each group:

• First Place - $200

To qualify, deer must be harvested in northeastern Wisconsin or Michigan’s upper peninsula and the hunter must reside in GreenStone’s northeast Wisconsin territory.

The completed form can be dropped off at one of our five Wisconsin branches in Clintonville, Coleman, Little Chute, Manitowoc or Sturgeon Bay, or online by visiting www.GreenStoneFCS. com/DeerChallenge.

• Second Place - $100

Good luck to all hunters this season! ■

Adults (18 years and older) • First Place - $400 • Second Place - $200 • Third Place - $100 Junior Buck (17 years and younger)

Taking Swings at Hunger: Timber Rattlers and GreenStone Unite Teaming up for the sixth year, GreenStone and the Timber Rattlers baseball team are once again striking out hunger in the community with their annual ballpark donation garden. Situated behind left field at Fox Cities Stadium in Wisconsin, the garden embodies a true community effort, promoting skill development and community service. All produce cultivated in this garden is dedicated to supporting those in need and is generously donated to a local food pantry.

This year, the garden yielded a substantial 100 pounds of tomatoes, summer squash, and green peppers, all of which were contributed to St. Joe's food pantry in Menasha, Wisconsin. Over the years, this unique garden has contributed over 1,000 pounds of fresh produce to the pantry, with valuable assistance from the Freedom High School FFA Chapter. This exceptional project offers students an opportunity to live out a core value by simultaneously serving and learning, acquiring valuable gardening skills.

For the food pantry, ensuring a bountiful harvest is a significant relief. Seth Merrill, Director of Business Development for the Timber Rattlers, expressed,

FALL FACEBOOK CONTEST—ENTER TO WIN! Visit GreenStone's Facebook page during the month of October for your chance to win a RTIC 30 Can Backpack Cooler and $100 gift card!

"For this garden to thrive, we needed a fantastic partner, and GreenStone has been the perfect fit. This partnership has a profoundly positive impact on our community."

To enter, choose your oasis by commenting A, B, C, or D on our designated Facebook post.

After you submit your comment, you will automatically be entered in a random drawing to win the backpack cooler and gift card!

We look forward to highlighting our recreational land financing options throughout October! To learn more about how GreenStone can help finance your outdoor oasis, visit our website. ■ 17

Fall 2023 — Partners

Comment on Facebook to enter

While the gardening season may be coming to a close, GreenStone's commitment to rural and agricultural communities remains unwavering. To learn more about our other community initiatives, please visit www.greenstonefcs. com/resources/open-fields-blog. ■

Supporting Producers of all Sizes GreenStone is proud to be a national leader in providing customers a risk management option through Micro Farm Crop Insurance. This policy provides specialized small farmers and specialty crop producers a safety net.

Recently, a group of GreenStone employees hosted representatives from the USDA Risk Management Agency, Congressman John Moolenar, and the Farm Credit Council on two farm visits. Both farms utilize Micro Farm Crop Insurance through GreenStone and were able to share the success of their business, value of the new coverage option for their unique farm, as well as outline ways to better the policy.

The group started their day at Rasch Cherry and Apple Market in Conklin, Michigan. This farm offers customers a full-scale farm experience with you-pick cherry and apple options. Their farm store is stocked with baked goods, doughnuts, cider, and more much – all insured through this policy.

In the afternoon, the group

was able to meet at Organic Blueberries LLC, a fourthgeneration family farm in West Olive, Michigan. With almost 20 acres of blueberries, the farm allows customers to pick their own or choose from a selection of pre-packaged berries. Read more about the blueberry farm on page 39.

to pushing for crop insurance standards to meet your needs.

• GreenStone wrote 45% of the

Fast Facts about Micro Farm:

the United States, and 89% of

• Micro Farm Crop Insurance covers both revenue from commodities and revenue from some value-added products like lotions from lavender or wine from grapes.

policies in Michigan.

total Micro Farm policies in

If you think your operation could benefit from a Micro Farm policy, contact your GreenStone crop insurance specialist today! ■

The USDA Risk Management Agency makes decisions about the guidelines for crop insurance in the United States. GreenStone understands the importance of getting them in the same room as producers, members of Farm Credit, and lawmakers to have a productive conversation about important changes to benefit you, the customer. We are proud to lead the charge with Micro Farm Crop Insurance, and we are committed

Mark Your Calendar...

NOVEMBER

10

GreenStone Offices Closed In Honor of Veterans Day GreenStone Offices Closed

23 (23-24) In honor of Thanksgiving Michigan Farm Bureau

28 Annual Meeting (28-30) Amway/DeVos, Grand Rapids with virtual options

DECEMBER

1

Wisconsin Farm Bureau Annual Meeting and Young Farmer and Agriculturist Conference (1-3) Wisconsin Dells, WI

Great Lakes Fruit, Vegetable and

Market Expo/Michigan 5 Farm Greenhouse Growers Expo

(5-7) Devos Place Convention Center, Grand Rapids, MI Michigan Junior Livestock

7 Society Winter Classic (7-10) MSU Pavilion, East Lansing, MI

GreenStone Offices Closed

25 (25-26) In honor of Christmas

Michigan Sheep Breeders

5 Association Shepherd’s Weekend (5-7) Lansing, MI

Dairy Strong Conference

16 (16-18) Green Bay, WI and virtual Great Lakes Crop Summit

25 (25-26) Soaring Eagle Resort, Mt. Pleasant, MI

FEBRUARY JANUARY GreenStone Offices Closed

1 In Honor of the New Year

GreenStone CultivateGrowth

5 Conference (5-6) Lansing, MI

Partners — Fall 2023

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Anthony Pegley Senior Financial Services Officer, Saginaw, MI 6 years of service Describe how your role carries out the GreenStone mission of supporting rural communities and agriculture.

Behind the Scenes In this behind the scenes, three GreenStone employees share how their role allows them to support rural communities and agriculture.

We offer some unique products that other institutions don’t, such as DIY home construction financing, contractor construction loans, and vacant land financing for up to 30 years. I think there is a lot of demand for these types of financing and it’s great to work for a company that can fill these needs.

What do you enjoy about your role?

The most enjoyable part about my job at GreenStone is getting to interact with so many people with various backgrounds and goals. Everyone is different and it’s always fun and interesting to understand people’s personal goals and then to watch them accomplish them.

What changes have been incorporated in your role to meet evolving customer needs?

Since COVID, people seem to be more comfortable communicating and working electronically. Utilizing secure messaging and our online loan request system has allowed us to better fit customer schedules. They are able to use these features at their own convenience and has also has increased our turnaround time in some areas. I see this as being a big benefit for everyone going forward.

What do you enjoy doing in your free time?

I enjoy hunting, fishing, and woodworking in my free time. My wife and I have 4 and 6 year old boys that keep us very busy as well!

Joel Arends Financial Services Officer, Grand Rapids, MI 7 months of service Describe how your role carries out the GreenStone mission of supporting rural communities and agriculture.

My role as a Traditional Financial Services Officer gives me the opportunity to form and build relationships directly with members. Our members are unique and deserve to have a tailored approach when analyzing their business and credit position. Everyday I strive to make GreenStone’s financial services available to all of rural West Michigan.

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Fall 2023 — Partners

What do you enjoy about your role?

Agricultural businesses are extremely unique. From apples to zucchini our members have very different business plans that make their profession successful.

Discovering the details behind what it takes to get products to market and all the service industries that support them, give me a lot of confidence in the American food system. I am truly grateful to all the hard-working men and women putting food on our tables.

blessing to me. Experiencing the beautiful outdoors of Michigan through hiking, biking, kayaking and snowmobiling are some of my favorite past times.

what ever I can to help give that passion the resiliency to survive. It’s hard not to be grateful to a community that puts its trust in you to protect their dream.

Phil Preston Senior Crop Insurance Specialist, Grand Rapids, MI 5 years of service

What changes have been incorporated in your role to meet evolving customer needs?

Describe how your role carries out the GreenStone mission of supporting rural communities and agriculture.

What changes have been incorporated in your role to meet evolving customer needs?

In just the half year I’ve been with GreenStone I have noticed customers continuing to evolve and embrace technology. Using online or digital platforms for communication or electronic signature platforms are something we do more of every day. At the same time, face to face customer interaction is still second to none. Making farm visits is an important part of the job.

What do you enjoy doing in your free time?

Farms are the backbone of our rural communities: raising families, providing jobs, and participating in community. Crop Insurance delivers the financial resiliency they need support the next generation (and often the previous generation), to provide jobs and income for our communities to thrive. I take pride in being a part of the resiliency of our communities.

What do you enjoy about your role?

In my free time, I love spending time with family and friends. My wife Elena and three young children are a tremendous

The pride our farmers have for their business goes deeper then most jobs. I get to stand alongside their passion and do

The faith a farmer sews into the ground every year is only matched by their determination to see that faith result in a harvest. Their crop is special and specific.

That crop needs a knowledge and a wisdom inherently specific to its success…

By segmenting our teams into specialists focused on specific crops, we’ve been able to deliver an expertise that honors that need for specific care. Rather than our crop insurance specialists being spread thin over multiple crops and industries, our specialists stay attuned to the evolving risks and needs of our farmers.

What do you enjoy doing in your free time?

My faith, family, and community get most of my time. I’m grateful just to play a part in their lives. I also enjoy keeping honeybees, doing some gardening, and gathering with friends and family. ■

Internship Wrap-up

As this summer draws to a close, GreenStone’s group of interns concluded their summer internships with a collective presentation before returning to their college studies. The 23 interns offered profound insights into their challenges, accomplishments, pivotal learning moments, and cherished

memories from their time with GreenStone, and shared their transformative experiences for all employees to hear.

These interns held diverse positions across various departments, engaging in tasks like analyzing financial statements, assessing credit narratives, conducting farm appraisals,

participating in employee recruitment efforts, and more.

The unanimous consensus among

Apart from contributing to significant projects crucial for GreenStone’s success, the interns enjoyed a range of intern events. These experiences encompassed participating in a food drive competition, attending information sessions, exploring a dairy farm, and gaining valuable insights into the agricultural industry. The events fostered networking, professional growth, and team interactions.

Information sessions covered topics such as resume building, the hiring process, and personality assessments, all providing a strong foundation for the interns next career step.

tremendously through their

the interns is they have grown projects and will forever cherish the knowledge gained from those they worked with. As they depart, they carry with them not only new friends and a great network of supporters, but also a newfound confidence in their capabilities in the professional realm.

As the curtains fell on the summer of 2023, GreenStone proudly extended its heartfelt congratulations to these accomplished interns. Their dedication, innovation, and enthusiasm have left an incredible mark and are deeply appreciated. ■ Partners — Fall 2023

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The results are in:

It’s a good time to own land!

By: Andrew Warner, GreenStone VP and Chief Appraiser GreenStone’s appraisal team has completed a yearly land benchmark study, and the results ring positive for land owners in Michigan and northeast Wisconsin.

appraisals are then compared to the prior year appraisals to understand value trends in cropland, transitional land, recreational land and dairy improvements.

Each year, GreenStone re-appraises the same eleven parcels of land representing local market areas across the geography. These re-

For the third year in a row, none of the eleven parcels of land we measure saw a decrease in value as outlined below.

DESCRIPTION

21

(CHANGE FROM PERIOD)

5 YEAR CHANGE (2018-2023)

10 YEAR CHANGE (2013-2023)

2018 2019

2020 2021 2022

2023

Cash Crop - Southwest MI

6.3% 0.0%

0.0%

18.5%

25.5%

30.6%

Cash Crop - Southern MI

0.0% 0.0%

0.0% 14.3% 15.0% 15.2%

51.4%

65.6%

Transitional - Southeast MI

1.3% 1.3%

3.7% 11.9% 17.0%

4.5%

43.8%

121.2%

Transitional - Southern Thumb MI -2.0% -2.5%

2.6%

5.0% 16.7%

0.0%

22.5%

22.5%

Cash Crop - Mid-Michigan

0.0% 0.0%

-5.7% 0.0% 10.0%

5.5%

9.4%

6.2%

Cash Crop - Northern Thumb MI

-7.5% 0.0%

-2.8% 2.9% 18.1%

8.2%

27.8%

29.1%

3.9%

1.9%

Cash Crop - Saginaw Valley MI

-0.7% -5.9%

0.0%

3.3% 16.1%

0.0%

12.9%

12.2%

Recreational - Northern MI

12.5% 2.8%

2.7%

5.3% 25.0%

8.0%

50.0%

92.9%

Cash Crop - Southeast NEWI

-2.6% -3.8%

0.0%

3.0% 19.6%

3.9%

23.1%

39.1%

Cash Crop - Western NEWI

0.0% 0.0%

0.0%

6.7% 14.5% 10.0%

34.4%

51.4%

Large Dairy - Michigan

-5.5% 0.0%

-5.6% 13.5% 9.8%

60.4%

60.3%

Fall 2023 — Partners

36.2%

“

While the price to acquire land is now higher, your existing land assets are also likely worth more today than last year.

As a part of this annual evaluation, research is also done to understand why these values are increasing or decreasing. A rise or decline in commodity prices, input costs, interest rates, weather, tourism and labor availability can all play a role in determining the market value of real estate, as outlined in more detail below.

Cash Crop and Dairy The Saginaw Valley cash crop land did not see an increase in value for 2023, after seeing a more than 16% jump in value last year.

It represents a historically strong agricultural area; this surprising stagnation may be an early indication of plateauing land values to come in other agriculturally rich communities.

All other cash crop focused trends saw the anticipated increases.

While other factors are present, land scarcity and competition are the primary drivers of increasing values in these areas. For instance, the property located in western northeast Wisconsin is located in the western part of GreenStone’s northeast Wisconsin territory. This area is strongly influenced by the dairy market, producers are always looking for opportunities to expand their land base. This expansion increases competition for land and thus, increases land values.

The benchmark representing a CAFO sized dairy operation saw the largest year-over-year increase in value. Our team attributes this jump to increased construction costs and a stronger dairy market than in past years.

Transitional and Recreational Transitional land, which is typically considered agricultural land being converted to urban development, saw a small increase in Southeast Michigan as indicated in the chart.

However, the same land category in Michigan’s Southern Thumb benchmark property saw a plateau.

After a significant increase in recreational land value last year, the northern Michigan benchmark this year indicates things are settling down in that area, as well. Given these results, it may be plausible that the boom in rural land buying during the COVID-19 pandemic is softening as a result of increasing interest rates.

GROW SOMETHING GOOD! Our communities are rich with aspiring youth doing great things! GreenStone not only recognizes the good youth are doing within their communities, and we want to celebrate them, too. To do so, GreenStone has been handing out t-shirts to youth who stand out among their peers for embodying the phrase "Grow Something Good".

This year, GreenStone branches have been active handing out t-shirts to reward those who exemplify characteristics such as hard work, kindness, giving, responsible and reliable.

In some cases, growing something good could reference youth who volunteer within their community, raise animals or grow plants, lead others inside and outside of the classroom, or even give a helping hand.

We congratulate each and every person growing and doing good – whether you have been acknowledged with a t-shirt or not – and thank you for making a positive impact within your community. Keep up the great work! ■

These results benefit you!

While the price to acquire land is now higher, your existing land assets are also likely worth more today than last year. That is good news for current land owners, but presents challenges for those looking to purchase land in the future. Regardless of current buying complications, history has proven that the purchase of land is a solid investment into your future.

Tracking this data annually keeps both our customers and our staff aware of where values are headed and prevents any big surprises year after year; and informs our property appraisers to help accurately value land. GreenStone’s team of lending experts are here to help you navigate the fluctuating market and find solutions for your dreams! ■ Partners — Fall 2023

22

The GreenStone Story:

Being our Best to Deliver the Best GreenStone operates on a set of four core values – one of which is “Deliver Quality.” By putting an emphasis on engaging and developing our employees, we are able to be the best team possible for our member-owners and do just that – quality work.

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Fall 2023 — Partners

Having a Pulse on our People

Like our customers, it’s difficult to know how your employees are doing without listening to them and gathering their feedback. One major way GreenStone is able to do this is through our employee engagement survey.

The survey measures how satisfied our employees are with the direction of the organization. Although many companies do similar surveys every two to five years, GreenStone finds importance in utilizing this survey annually to track any changes timely to ensure the consistent satisfaction of our employees.

This survey has allowed us to make adjustments to best suit our workplace. Recently, when the COVID-19 pandemic shifted the way we worked, our leaders were equipment with real time employee information to be able to make changes on the fly that they knew would best suit our employees based on feedback from the survey.

In our recent employee engagement survey, 92% of respondents indicated that GreenStone’s culture and values are favorable.

When asked in the survey if GreenStone is a great place to work, our employees’ responses have always kept us in the 99-percentile compared to other organizations – and that’s something we’re deeply proud of.

Everyone’s a Leader

At GreenStone, we believe everybody, regardless of their job title, has the capacity to be a leader and an expert in their field. We offer an array of professional development opportunities internally to help our team become equipped to be the best they can.

Employees are invited and encouraged to participate in different development pathways throughout their time at GreenStone to hone in on skills like business writing, public speaking, teamwork, leadership and business etiquette. Some pathways are geared to prepare employees for a managerial position in their future, and others work to provide the skills to be an empowering teammate in their current position.

GreenStone employees are also supported in their desire for promotions. In fact, a majority of GreenStone’s leadership team

“

started in other positions and made their way to the managerial positions they hold today. GreenStone’s robust internship program also helps us find skilled and talented teammates that stay on full-time after their schooling has ended. In fact, GreenStone’s recently retired CEO, Dave Armstrong, began at the cooperative as an intern!

Engaging Our Team

Keeping a team satisfied starts with engagement. GreenStone has a volunteer committee, the Employee Engagement Work Group, made up of employees in almost every single department. Their goal – to be a sounding board for what works best for the people of GreenStone.

The team helps organize mentorship opportunities for newer employees, coordinates the employee engagement survey, manages GreenStone’s employee recognition program and records a monthly internal podcast giving the spotlight to our staff to share their vast knowledge.

The committee also meets and brings ideas to our leadership team about techniques to make the workplace even better – everything from dress code recommendations to alternative work arrangements.

Nobody on this committee has to do this work. They do it voluntarily to help make GreenStone the best workplace it can be – a testament to the culture of the co-op.

Investing in You

Earlier we stated that one of GreenStone’s core four values is “Deliver Quality.” Another one of those values is “Customer First.”

We believe when our employees are engaged and consistently bettering themselves, they are able to put you, the customer, before anything else. You are the reason we put an emphasis on investing in our employees.

By being experts in our field, we can help provide you with professional service and solutions to your unique needs.

When our people are happy, we can do everything in our power to make you happy, too. ■

“

I would like to thank you from the bottom of my heart, because this scholarship will help me achieve my dreams to be a large animal veterinarian.

”

— Jena Fellabaum, GreenStone Scholarship Recipient

“

After completing my bachelor’s in business, I plan to be a farm loan officer, a florist/cut flower farmer, or even go back to school to be an agriculture teacher. The possibilities are endless thanks to your support!

—Peyton Prowse, GreenStone Scholarship Recipient

On behalf of the Michigan State University Block & Bridle Club, I would like to extend a sincere thank you for your donation to our recent benefit auction! Your generous donation will help fund club activities as we strive to provide agricultural opportunities for our member and others. We appreciate your support!

”

—- Rachael Sena and Block & Bridle Recognition Banquet

”

...Candid Comments Partners — Fall 2023

24

The GreenStone Story:

One Year of Passionate Leadership President and CEO Travis Jones Reflects on First Year at the Helm of GreenStone

25

Fall 2023 — Partners

Every new job comes with some learning curves, and GreenStone’s President and CEO, Travis Jones, has taken the challenge head-on. Jones was appointed CEO last summer and took the reins of GreenStone in August after serving as Chief Financial Officer for 15 years. Now, one year into the top job, Jones is reflecting on all that he has learned and is looking forward to in the future.

Pause for Applause...

Q: W hat has been your favorite memory so far as President and CEO? The last year has gone very fast and I can’t think of just a single favorite memory.

GreenStone is doing very well, and I get to brag about our successes which makes my job easy. I have been lucky enough to visit a large number of customers on their farms and at their businesses, which I really enjoy. Very few CEOs get to visit such a diverse range of customers. I have visited cash grain farmers, apple growers, pork producers, dairy farmers, and sugar beet, blueberry and potato growers to name a few. Everyone’s operations are different, yet everyone is working hard not only to support their families but to also provide food, fuel and fiber to the world.

Q: What has been your biggest challenge as CEO? Probably the biggest challenge we face is trying to always do the right thing for our members and our employees. With 28,000 customers and more than 600 employees, we don’t “bat a thousand” every time, but we never stop trying. We strive to have very satisfied, engaged employees and hope that turns into very satisfied customers. We have been pretty good at striking the right balance in the past, and it’s imperative that GreenStone continues to strike the right balance in the future.

Q: D o you still turn to former CEO Dave Armstrong for advice?

Dave and I have breakfast once a month. My wife Sue and I have probably had dinner with Dave and his wife Debbie three times in the last year. I can ask Dave anything. He was the best boss in the world and now he is the best unpaid consultant in the world. Actually, I cover breakfast, so his advice isn’t totally free, but close! When he was at GreenStone or just during breakfast this past year, I have always tried to soak up his knowledge and advice. I listen to everything he has to say except for when he starts talking about Spartan football or basketball.

When a game against Michigan is coming up for instance, he will always say he doesn’t expect much from Michigan State. However, if the Spartans win, it’s very hard to put up with the gloating.

Q: Y ou said last year that GreenStone is where you want to spend the remainder of your career.

Does that still ring true?

Absolutely! This is just a really special place; I knew it when I interviewed here 16 years ago for the Chief Financial Officer position and I still believe it today.

You can’t find another organization like Farm Credit. GreenStone is a $14 billion financial institution, yet we are a cooperative. We are owned by our members.

Fourteen of our 16 board members are members. Our employees understand why we are here. Our mission is to “Promote the business success of our customers and the rural community by being the best at providing credit and financial services.” My teammates follow our mission every day, and we have the greatest member base in the country. Why would I want to work anywhere else?

SERVICE ANNIVERSARIES Help GreenStone congratulate and thank these staff who are celebrating an employment milestone. From five to 40, the years represent the dedication and service all employees provide our members.

OCTOBER Lori Rasmussen Marie Fair Courtney Vance Mary Grace Hodak Scott Martin Amanda Kutchey Brandon Walters Lisa Smith Julie Feuerstein

5 5 10 10 10 10 15 15 30

NOVEMBER Stephanie Willett Garrett Anderson Marsha Wilhelm Barbara Steinfeldt Linda Miner

5 10 25 25 40

DECEMBER James Kosmerick 5 Cassie Bowman 5 Nathaniel Feldpausch 5 Kandice Brown 15 Jill Meridith 30

Have a proud moment to share?

Let us know about it. Contact us on social media or by email at: marketing@greenstonefcs.com

Q: W hat are you looking forward to most in the future at GreenStone?

GreenStone has such a strong staff. I am spoiled as a CEO to have such great teammates. Some have a ton of experience, and some are strong, young leaders.

GreenStone will be very successful in the future because of the bench strength of our staff, at every level. ■ Partners — Fall 2023

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Directors' Perspective :

Making Connections One mission, two associations, endless value.

In August, GreenStone’s board of directors and executive team held a joint board meeting with neighboring association Farm Credit Illinois. The goal – collaboration, networking and learning. The result… read on to hear about the value of the experience from four of your board members.

Gene College

Collaboration = “the act of working together.” This is the reason that the board and management of GreenStone and Farm Credit Illinois held a joint session in August as a part of our 2024 planning process. It was an opportunity to share our business model, including the unique technology tools that are available to our customers. Farm Credit Illinois informed us on how they operate in their marketplace. An outside speaker also gave a thought-provoking presentation on the future state of lending.

GreenStone exists to be America’s first choice for financial services. Farm Credit Illinois also does an excellent job of meeting their customer’s needs. Even though there are some differences in commodity concentrations, business practices, etc., it was very clear that both organizations are committed to being the very best in their individual marketplaces.

These types of joint sessions are very valuable. We can learn from others which may ultimately benefit our customers and, likewise, can offer some of our insights to other organizations.

The opportunity of getting to know other association board members was also great. Each farm operation has its own challenges and opportunities and I gained beneficial information from such conversations. Hopefully, we can have additional joint sessions with other associations in the future.

We are all working diligently for a common cause!

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Ron Lucas

When this joint meeting was first announced, I honestly wasn’t certain if we’d get value out of it. After we did meet, it was very enlightening! We have a lot in common and yet different in many ways. GreenStone is more diverse in our customer’s commodities and farming practices. We both put a lot of effort in supporting young, beginning, and small farmers. Also, both associations prioritize giving back a portion of our earnings to our members through Patronage dividends annually. And opportunities were identified to possibly collaborate on technology or other areas down the road. Overall it was a good meeting get to know the other directors who hold the same goals in mind as we do – to do the best we can for our fellow borrowers.

Dennis Muchmore

It was an excellent joint board meeting between Farm Credit Illinois and GreenStone. The opportunity to share common issues and solutions to those issues doesn’t happen as often as we would all like, and focusing on just two organizations over the two days allowed extra scrutiny on certain commonalities.

Although my interest was piqued due to Illinois board members beings from towns near my hometown, drawing on their strength and common experiences with our board members enhanced the two days. I feel even more confidence in the Farm Credit System and in GreenStone. ■

Michael Timmer

I imagine we have all had a person in our lives who we would like to learn from or find out what makes them successful; Farm Credit associations are no different. GreenStone does look at how other associations meet the needs of their customers while fulfilling the Farm Credit mission. We recently met with Farm Credit Illinois for that purpose. Our board of directors and executive teams had an opportunity to meet and discuss the challenges each association faces, share ideas, and see how each of us returns value to our members. Both associations have strong financial positions, high customer satisfaction scores, and work hard to help young, beginning, and small farmers. Farm Credit Illinois had some particularly innovative ideas for helping the young and beginning farmers they serve.

Similarities aside, the associations achieve this success while maintaining quite different loan portfolios. One of GreenStone's strengths is the diversity of our loan portfolio.

While meeting the financial needs of a diverse customer base is challenging, it provides stability to the association by limiting the fiscal impact of cycles in any one industry. Developing new software and integrating it into the workforce to improve efficiency is a challenge that both associations face. GreenStone has been a leader in this area. Our information technology department has been working to develop software that will improve the efficiency of GreenStone and to keep the costs down has partnered with several associations to share the cost of these software enhancements.

At the close of our meeting time together we all agreed it was beneficial and would look for opportunities to meet again. . . there is more to learn.

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Legislative Matters:

LEADING TOWARD POLICY IS A MATTER OF ENGAGEMENT Those who follow the political entanglements of our times have an uneasiness about the future of where some of our major policy issues may land. There are more questions and uncertainties than there are answers and clarity. There is a sense that emotions have overcome logic as leaders make efforts to settle on firm ground on many confounding politically charged issues, including food and agriculture policy.

Efforts to stay engaged with strong communication remain as a necessary constant demand.

With broad engagement and leadership, our collective prospects for a bright agriculture future will endure. Reflecting on history, we have always found a better way forward with engagement.

The engagement of our political leaders takes some courage and patience, and input from our cooperative members who have feet on the ground and hands in the dirt. Collaborative groups have been formed across diverse interests to provide strength in communication. These collaborations have proved to be an essential tool to assist leaders understand the dynamics of the challenges in agriculture and food policy.

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What is at stake if we do not get this completed competently is captured in a couple statements made by former President Hebert Hoover, who led the first worldwide humanitarian food effort during World War I. While educated and employed as a mining engineer, he was directed to lead the food aid effort in Europe because of his ability to get things done during that time.

As head of the American Relief Administration with a mission to extend aid to famine-stricken Russia he reported, “Twenty million people are starving.

Whatever their politics, they shall be fed.” Leading up to that moment there had been decades of struggle and debate over the role of USA to serve humanitarian aid. A way forward was found.

Yet today we still struggle over budget and policy to the point of gridlock. As we go and grow forward, we know agriculture of all kinds must be supported because the risk is hunger. As Hoover said in a radio address to the American people on May 17, 1946, “Hunger is a silent visitor who comes like a shadow.

He sits beside every anxious mother three times each day.

He brings not only suffering and sorrow, but fear and terror. He carries disorder and the paralysis of government, and even its downfall. He is more destructive than armies, not only in human life but in morals. All the values of right living melt before his invasions, and every gain of civilization crumbles.“ Don’t take agriculture and the miracle of a sound food system

for granted. Together we need to maintain a consistent rhythm of engagement and communication to assist our leaders in making the best policies to serve us all. As we work together to overcome the politics of our time, our engagement awards us with being recognized the great humanitarian of this generation.

As timing for a new Farm Bill faces a looming deadline, Congress does not appear to be able to successfully meet the challenge to get through the finish line. It seems nearly impossible to get a Farm Bill under the circumstance of government shut down and budget disparity. There is no crisis in agriculture currently, yet there is need to maintain stability in agriculture policy as the supply chain remains fragile.

Encourage broad communication and engagement while we can through this current political cycle, and together we will avert disasters of the past. ■

PAC Progress:

LEGISLATIVE OUTREACH: Strong relationships continue to be built to support rural communities and agriculture.

Throughout the course of the year, action has been taken through the PACs to disburse funds. This has allowed your GreenStone team, board of directors, and fellow members to be involved in dialogue with legislative leaders that are interested in and eager to support the agriculture industry. Discussion centers around building relationships, providing education on the structure and value of GreenStone and the Farm Credit System, and discussing our rural communities and agriculture.

In Michigan, close to 20 individual meetings have occurred with Senators and Representatives to introduce GreenStone to the new leaders in the legislative branch.

In addition, in June a widely attended legislative lunch reception was held at the Capitol and was a huge success. Your GreenStone staff engaged with more than 200 elected officials and staff. The event was a great success and is evidence of the work done for many years to build relationships.

Time was taken to educate legislators on the productivity and sustainability efforts of farmers and let them know our concerns with unneccessary regulation. GreenStone is a trusted resources in the constantly evolving political landscape, and your financial support provided through the MI GreenStone PAC is what makes that possible!

In Wisconsin, planning the Ag Huddle fundraiser for Senate and Assembly Agriculture committee is underway. The event was so successful last year that it is coming back by request and it is anticipated to keep growing in number of attendees and financial support provide to the committee members! Numerous legislative items are being tracked and discussed, including land ownership, agricultural road improvement funding, and fertilizer requirements.

Federally, over 20 meetings have taken place with U.S. Senators

and Representatives to communication the importance of the Farm Credit System. The focus has been and is on the importance of the Farm Bill to the Farm Credit System, agriculture, and rural communities. A significant portion of the legislature has never voted on or provided staff support for a Farm Bill, and as a result there have been ample opportunities to education on why the Farm Credit System was chartered and how GreenStone and the other Farm Credit associations still carry out the mission in the ever changing business environment. In addition, a special Farm Credit marketplace reception will take place in DC this fall where two GreenStone customers products will be highlighted. Beef Sticks from Green Vale Farm in Michigan and dried cherries from Country Ovens in Wisconsin will be given out. It was a great opportunity to share products from customers, and more importantly share its contributions and challenges in the domestic and international trade economy.

As stewards of the Farm Credit System and partners in the agriculture industry, the highest importance is placed on communicating the importance of Michigan and Wisconsin agriculture to our communities, country, and world. This is not possible without your support and we thank you for it. Strong relationships will continue being built to help ensure support for rural communities and agriculture for years to come. ■

Headsup that the annual MI GreenStone PAC and WI Farm Credit PAC drives will be taking place in January. Be sure to look out for the voluntary pledge and contribution card at the end of December.

If you have questions about getting involved with hundreds of your fellow members, contact your local branch.

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LIVE

Building a Dream Country Living Customer Feature

Ryan Schomaker had a dream – to purchase his grandmother’s farm in Thomas Township, Michigan and raise a family in the farmhouse adjacent to the property.

When that home was not available for purchase, Ryan and his wife Taylor decided to take matters into their own hands and build a brand-new home on the farm property. In 2019, they turned the key, walked into their new home, and never looked back – but it took a lot of work to get to that point.

Six Months of Dedication

After purchasing the family farm in 2018, Ryan and Taylor were determined to build a home as quickly as possible so they could give their full attention to farming. They met with GreenStone Financial Services Officer Anthony Pegley who helped them secure the financing they needed to break ground and begin work on the farm. Sensing their passion to farm and give back to the community, Anthony

was excited to help them make this dream a reality.

“Our purpose here is to help people pursue their passions and their dreams, and that’s the best part of the job,” said Anthony.

“Ryan and Taylor are excellent people. They’re great for the community, very ambitious, and I don’t have enough nice things to say about them.”

“The application was very simple, being first-time home buyers,” said Taylor. “We went in, sat down with Anthony, and it was a very positive experience for us.”

Later that year, the two worked with an architect on the floor plan and were able to start their self-build. Living out of a camper on the property, they worked long hours outside of Ryan’s full-time job as a lineman to get their home completed.

“We would work on the house until two in the morning, and then I would get up a few hours later at six for work,” Ryan explained.

Ryan and Taylor not only spent long hours doing physical labor like laying flooring, but also researching and learning how to complete certain projects.

Building a home was a whole new ballgame for them.

“We had a house before and did some basic remodel stuff, but that was it,” said Ryan. “If you watched us tackle this, you’d notice we don’t build houses every day.”

“I grew up in the building industry, but neither one of us had done anything more than simple home repairs before,” said Taylor.

➡ Ryan, Taylor and son Bennett take a break from working on the farm to pose for photo on their beautiful front porch.

View a highlight reel video at: www.greenstonefcs.com/CLFall23 Partners — Fall 2023

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Home Sweet Home Six months later, a beautiful three-bedroom home with an attached garage sat at the front of the 40-acre farm ready for Ryan and Taylor to make memories in.

Moving in to the home they spent countless hours building and perfecting was a reward of a lifetime.

“It feels good to be in the home we spent to many hours making,” said Ryan. “It’s sweat equity.”

“Building it from the ground up like that is awesome because you know all of the nooks and crannies of the house,” said Taylor.

The home is equipped with an open floor plan, sliding wood doors, custom cabinetry, white oak floors, a stone fireplace and a black walnut staircase – just to name a few features.

It’s the perfect place to raise their one-and-ahalf-year-old son, Bennett.

“The fact that we built it ourselves makes it even more of a homestead,” Taylor remarked.

For Anthony, seeing the final product is one of the best parts of the experience.

“They’ve been great to work with throughout the process,” said Anthony. “They built a beautiful house, and it was great to watch it go up and see them move in.”

Trailblazers in Agriculture Not only is the 2,000-square foot home the perfect place to make memories and share meals, but it’s the perfect operation center for their ever-growing farm. After completing their home-build, they dove head-first into making their farm a success.

The two have turned the traditional cash-crop farm into a produce operation – selling things like corn, tomatoes, peppers and onions to the community at their self-serve stand on the property and to some local restaurants. The couple also offers you-pick flower options throughout the property.

Although the farm is a staple in the Saginaw community now, it took some hard work to get there.

“We started with nothing,” Taylor explained.

“The first year, we used a tractor that Ryan ➡ The 2,000-square foot home sits on the Schomaker family farm.

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got from his grandpa. Every year we get a piece of equipment or two that will make it a little easier. It’s a huge undertaking, but it’s extremely rewarding to see it come to fruition.”

And they’re sharing that reward with the community. Ryan and Taylor founded the Thomas Township Farmer’s Market in 2022. The market houses about 20 vendors and serves nearly 1,000 members of the community.

“It’s definitely awesome to see people come out and support it,” said Ryan.

“It really inspires you to put your ideas in action to make a bigger impact,” said Taylor. “Seeing people come to your produce stand is rewarding, but when you go the next step and see the acceptance of your ideas outside of the farm and in the community, that’s a good feeling.”

The Schomaker family isn’t slowing down any time soon. They plan to keep expanding the farm, market and making core memories in their homestead for years to come – and we’re excited to support them as they grow.

“It’s fun watching people, over time, accomplish what they set out to do, and if we can help, that’s even better,” Anthony reflected. ■

i

COUNTRY LIVING – OPEN FIELDS BLOG BRIEF GreenStone publishes regular updates on our Open Fields blog. Check out some of the posts you may have missed at www.greenstonefcs.com/openfieldsblog.

Country Minute: Making Recreational Land Affordable Think you can’t afford to own recreational land? Think again!

Country Minute: Preparing to buy a country home? Here’s what you need before calling a realtor There are a few things you need to know to get started with the process before calling a realtor.

Country Minute: Top Five Reasons to Buy Hunting Land Owning your own hunting land is an opportunity to have a slice of peace and quiet away from the crowds to safely chase your next trophy whitetail. ■

➡T op Left: The Schultzes' australian shepherd, Miles. ➡B ottom Left: GreenStone financial services officer, Johnny Thompson, featured with Max and Halie Schultz

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A New Adventure By: Jordan Browne Producer, Michigan Out of Doors TV Last year, my wife and I were able to purchase our dream property, thanks to a very generous land owner and the folks at GreenStone Farm Credit Services.

It was a realization of a lifelong dream of mine and something I’m thankful for every single day. In southern Michigan, purchasing land can be difficult, especially hunting land. There’s not much for sale and plenty of potential buyers.

So, to end up owning a chunk of premium hunting ground seemed like a dream for most of my life, and still does to some extent. I’m

not sure if I realized it when we signed the papers, but this was the beginning of new adventure for our family.

This particular piece of property is one that I’ve hunted for nearly 15 years and have enjoyed countless experiences on. In recent years my wife and I, along with our two children, have enjoyed spending time there throughout

the year doing a wide variety of outdoor activities. That being said, the deer hunter in me is always thinking about fall. I find myself constantly wondering what the next deer season will bring or reflecting on previous seasons. Heading into this year my mind was racing with anticipation of what was to come.

For the first time in my life, my primary hunting spot would be my own.

Once the snow was off, I found myself wandering around the property thinking about what improvements I could make to the current habitat to enhance it for wildlife. It was a strange sensation to realize that I no longer needed to dream about what I wanted to do, instead, I could actually do it. In a way, it was also somewhat daunting. The possibilities seem endless when it comes to property enhancements.

As spring progressed into early summer, I started to cross off some of the things I had planned out early in the year. I added a few new blinds, hung a few new tree stands, and planted three new food plots. It seemed like I spent pretty much all of my free time doing something around the property. Although it was a lot work, it hardly felt that way. The more work I did, the more I thought about the future. I would think about things like planting trees and what they might look like down the road, what they might look like when my kids were older. With or without any changes I might make, the property is beautiful and I find myself constantly in awe of what we own.

Here today, I’m anxious to see what this deer season holds. After a lifetime of dreaming of what could be, it’s time to enjoy what is. More than anything, I’m thankful to have a piece of property to call my own and I can’t wait to enjoy it with friends and family this fall! ■

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10 HUNTING TIPS TO KNOW THIS FALL! Deer hunting season is upon us. Make it the best hunt yet by following these tips to keep you safe, and support those around you!

1. Know your firearm and how it functions. Make sure firearms are sighted in and functioning before opening day.

2. Know your target and what is beyond it. Make sure you know your hunting area and the location of anyone around you. Remember, unless you have permission, do not hunt with a firearm within 450 feet of an occupied structure.

3. Properly tag your deer. Make sure kill tags are filled out completely with the month and date the deer was taken, gender of the deer, and number of points of antlers.

4. Respect landowners rights. If you see a posted trespassing sign or property boundary markers, please respect them.

Contact the property owner before crossing the boundaries even if it’s while tracking a deer.

5. Share public land. Before opening day make sure you scout and research the public area you plan on hunting to ensure your familiarity and ability to adjust to those around you.

6. Leave the land better than you found it. Remember to bring whatever you brought into the woods back out with you!

7. Wear hunter orange. It is required by law to wear hunter orange to help keep you safe and inform those around you. Make sure it can be visible from all directions.

8. Know and follow baiting regulations. In Michigan’s lower peninsula and some counties in Wisconsin it is illegal to bait deer, but in certain areas in Michigan’s upper peninsula it is legal up to a certain amount.

9. Hunt in-season, during legal hours. Michigan’s firearm deer season opens up November 15th and Wisconsin’s season opens up on November 18th. Season hours are 30 minutes before sunrise and 30 minutes after sunset.

10. Be respectful to other hunters. It is against the law to interfere with lawful hunting. Be respectful to those who enjoy the sport!

For more safety tips and information, please visit https://www. michigan.gov/dnr/things-to-do/hunting/safety or https://dnr. wisconsin.gov/topic/hunt/deer

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5 WAYS TO GIVE BACK THIS HOLIDAY SEASON During the holidays, it is easy to get wrapped up in the ribbons and bows and forget the importance of giving back. Here are five easy ways that you and your family can give back to your community during the holiday season: 1. Donate unwanted items:

4. S end a care package to someone in the military:

During your fall cleaning, clean out your closet of those unwanted coats, jackets and donate them to your local community closet! Do you have extra canned goods and non-perishables sitting in your cupboards? Donate them to your local food bank! It is an easy way to turn your extra or no longer useful items to value for those in need.

There are several organizations all across the country that will send your care package to those overseas. Spend time with your family to make homemade food or create a handmade card for someone that may not be able to come home for the holidays. This is just a special way to say thank you for your service!

2. Give back to the service providers:

5. Volunteer at a soup kitchen:

Don’t forget to give back to those who are working hard to make sure your grocery orders or holiday presents get delivered on time! Create a little thank you basket for your local delivery workers this season. This can be just as simple as a granola bar or a bottle of water to help them get through their deliveries!

Give back to your community by handing out food to those in need. Volunteer time at your local soup kitchen or food pantry to help out. The best holiday gift you could give yourself is the satisfaction in helping someone else! ■

3. Visit a local retirement home: Not everyone has a family to visit them around the holidays. Take the time to visit someone in a retirement home by playing games, creating a craft, or simply just hanging out with them. If you are not able to visit a home, think about sending some homemade cards. It is a simple way to make someone’s holiday season a little brighter!

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Commodity Cuisine...

Organic Blueberries Farm Cheesecake

Top Layer:

Submitted by Victoria Carini. Read more about her operation, Organic Blueberries LLC, on page 39.

8 ounces sour cream 2 Tablespoons sugar 1 teaspoon vanilla

Crust: 2 cups graham cracker crumbs (16 crackers) 1/3 cup sugar 4 Tbsp melted butter Mix crumbs with sugar and melted butter.

Butter 9-inch springform pan.

Press mixture on the bottom and sides of the pan.

Refrigerate.

Filling: 1 ¼ lbs softened cream cheese 1 cup sugar 4 eggs 1 tsp vanilla Mix cream cheese, sugar, eggs and vanilla in a bowl.

Beat until smooth and light.

Pour over crust.

Bake at 375 for 50 minutes.

Beat together sour cream, sugar and vanilla Spread over the top of baked contents Bake 10 minutes more.

Test doneness use the toothpick method.

Cool at room temperature and refrigerate.

Top with blueberry glaze when ready to serve.

Blueberry Topping Glaze for Cheesecake 1 pt (2 cup) Fresh or frozen organic blueberries, rinse and drain.

1 tsp cinnamon ½ cup water 2 Tablespoon cornstarch 1 Tablespoon lemon juice Combine sugar, cornstarch and cinnamon in a saucepan, mixing well.

Crush 1 cup of blueberries, add to the mixture with ½ cup water.

Bring to a boil until thickened, add the other half of the blueberries and lemon juice. Cool for 30 minutes.

Spread over cheesecake.

Serve and enjoy! ■

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LEARN

Growing a Farm Organically Crop Insurance Customer Feature

During the summertime in West Olive, Michigan, you will find a community indulging themselves in fresh fruit at you-pick farms across the area. Down one of those winding back roads is a farm that’s doing something a little differently – Organic Blueberries, LLC.

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The farm is run by Victoria Carini, her husband Curtis, and their family.

The land was originally owned by Curtis’ grandmother and then his mother. Curtis planted the blueberry bushes on the property forty years ago, and those same plants still stand today.

The farm is nothing short of a family affair. Victoria and her daughter Nicole work on the day-to-day operations. While Victoria handles planting operations, Nicole is working on business management tasks like bookkeeping. Victoria’s son Derick helps with marketing and branding, and daughter Kristen helps out any time and anywhere she is needed.

“It’s something we enjoy and we can all do together,” said Victoria.

“Family is so important to support you in all of this.”

“

I could’ve just grown blueberries and sent them all to a company, but I love the interaction with the community.

Educating Everyone

The farm offers you-pick berries and pre-picked selections.

Victoria’s favorite part about farming is when the community gets to visit and see exactly where their food is coming from.

“I could’ve just grown blueberries and sent them all to a company, but I love the interaction with the community,” said Victoria. “I love teaching kids. When they come to the farm and pick berries, I love educating them on where their food comes from. We have some home school classes that come to the field. They get to pick their own fruit and they just love it.”

It’s not just youth Victoria is inviting to learn. Recently, the farm allowed members of GreenStone, Farm Credit, Michigan State University Extension and the USDA’s Risk Management Agency to visit so they could see first-hand how crop insurance policies impact producers.

“As a small grower, every dollar counts,” Victoria reflected. “Being available to talk to people who can make change in policy and making sure they can put a face to a name is very important. I’ll do whatever I need to do to get our story out. These conversations can help a lot of small farmers.”

Making Crop Insurance a Priority

After a devastating crop loss in 2021 due to frost, Victoria knew it was time to get an extra layer of protection for her farm.

After refinancing her farm through GreenStone, she was connected to the specialty crop insurance team. In 2022, she began working with GreenStone crop insurance specialist Phil Preston to find the right policy for her operation.

“I drove to her house after hours near the crop insurance deadline and told her what the Micro Farm program offers and how it works, and we were able to identify that if we had that product one year earlier, she would’ve been able to protect her crops more,” Phil explained. “I ended up coming back the next night and got her signed up.” ➡ Left: Victoria Carini (R) gives Crop Insurance Specialist Phil Preston (L) a tour of her organic blueberry farm. ➡ Right: The farm is a family affair. Victoria and Curtis lean on the help of their three children and three grandchildren to operate the farm.

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“

Becoming organic has really changed the dynamic of our farm... People have been so responsive and wonderful.

Organic Blueberries, LLC utilizes the Micro Farm Crop Insurance policy. The policy specializes in small farmers with less than $350,000 in revenue and is popular among fruit and specialty crop growers. It also helps protect value-added products like jams and honey – two things Victoria sells at her farm.

After dealing with unpredictable weather, the policy gives her the peace of mind that her operation will be financially sustainable.

“GreenStone has been amazing,” Victoria said. “Phil simplifies everything and he knows his stuff.

He makes sure we get everything we need covered. I always thought crop insurance was a luxury item, but now I see it’s a necessity.”

“I’m really looking forward to seeing the crop insurance product work for them in a year they need help,” said Phil. “Financial challenges from mother nature assaults the opportunity for a farm to follow its business plan, but with a crop insurance product, it doesn’t have to.”

Operating Organically

One thing that makes Victoria’s operation stand out is her commitment to organic growing. She decided to begin organic practices four years ago and has not looked back.

“Becoming organic has really changed the dynamic of our farm,” said Victoria. “People have been so responsive and wonderful. People have thanked us for making this change and say there’s value in buying organic.

I think becoming organic is very sustainable for not only the earth, but the future of the farm.”

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Keeping the farm around for generations to come is extremely important to Victoria. Her three grandchildren, the fifth generation of the farm, are already helping out.

“To have a next generation that I can pass it down to, I want to make sure there’s enough money coming in for it to be sustainable,” Victoria explained.

Crop Insurance Calendar...

OCTOBER Forage Underwriting Report

15 Signature Due

25 Wheat Final Plant Date* End of Insurance Period (loss

31 reporting deadline) for Fall Crops Final Claim Reporting Date

31 for Dry Beans NOVEMBER

It’s not just the blueberries that are organic, but all the products sold at the farm – like her jams and honey.

Victoria makes sure that all products that go into making these products live up to her organic label.

5

End of Insurance Period (loss reporting deadline) for Apples

14

Wheat Production Reports Due

“When I work with people on my products, I want to know everything that’s going into them before I put my name and label on it,” said Victoria.

15 Sugar Beets

Future Forward

Moving forward, Victoria and her family plan to add more blueberry plants to the property to increase their poundage. In doing so, they’re researching ways to incorporate regenerative soils into the farm to help in their sustainability effort.

They’re also hoping to add more products like granola and blueberry syrup to their product lines and increase their branding.

Wheat & Forage Acreage

15 Reports Due

Final Claim Reporting Date for Fruit Sales Close Date & End of

20 Insurance Period for Grapes DECEMBER

End of Insurance Period (loss

10 reporting deadline) for Spring Crops JANUARY Acreage/Production Reports & 15 Fruit Pre-Acceptance Worksheets Due

Throughout these changes, GreenStone will be here to help finance their dreams and help protect what matters most.

“It has been a lot of fun being a part of their farm,” said Phil. “An organic blueberry grower is kind of a unicorn, it’s unique, so seeing someone who is trying to stay small, but stay focused and being competitive in the market is really cool.” ■

* P lease note that some dates can vary by County. Please check with your Crop Insurance Specialist for specific dates if you are unsure.

CROP INSURANCE NEWS: APPLE REMINDERS

SWEET CHERRY INSURANCE CHANGE Growers can now have optional units by type, where they can have independent coverage for canner and briner type Processing Sweet Cherries. Contact your specialty crop insurance specialist for more information. ■ CO-MINGLED PRODUCTION Please be aware that any production from 2022 being carried over into the 2023 harvest needs to be measured or marked by an adjuster prior to adding the current year’s production. Added production needs to be kept separate by unit through bin markings.

If you need a bin measurement, call your crop insurance specialist. ■ END OF INSURANCE PERIOD Insurance ends on each unit or part of unit at the earliest of: • Total destruction of the crop • Harvest • Final adjustment of loss

November 20, 2023 is the sales closing deadline to change your current coverage or take out a new policy for the 2024 crop year. Premiums are not billed to you until August 15, 2024, and are due September 30. Your current coverage will carry over for 2024 if you do not change anything in writing by November 20. January 15 is the acreage and yield reporting deadline for fruit. PLEASE REPORT ACRES AND PRODUCTION AS EARLY AS POSSIBLE! The County Transitional Yield (T-Yield) and 2024 prices have been recently announced. That information will be included in your renewal information later this year, or you can contact your crop insurance specialist for more details. ■ APH REVIEWS The Risk Management Agency (RMA) threshold for an Actual Production History (APH) policy review is $200,000. An APH policy review is simply the process of verifying the accuracy of the insured reported production, share and acres. Accurate and complete records will simplify the process along with following these guidelines: • Production records must be separated by crop, practice, type, unit, and the actual crop year.

• Records must be sorted by the 578 producer prints, settlement sheets and soft records.

• The insured must keep three years of production records.

• Daily livestock feeding should be recorded daily.

• Printed combine monitor records should be stored with settlement sheets.

• The insured cannot split truckloads, tickets, and bins between units without proper soft records for comingled production.

• Co-mingled production needs to be measured by a disinterested third party.

• The insured should keep original records and provide the Approved Insurance Providers (AIP) with copies.

• Applicable calendar date in the crop or special provisions • Abandonment • Or, as otherwise specified in the Crop Provisions Provisions require a Notice of Loss (NOL) within 72 hours of damage discovery but not later than 15 days after the end of insurance period. Revenue losses must be submitted no later than 45 days after release of Harvest Price. It is the insureds responsibility to contact their crop insurance specialist if they have or think they have a loss. ■ ACREAGE & PRODUCTION REPORTS

Hard records are production records that prove the final disposition of the total crop and are verifiable by a third party. Soft records are the documents an insured must provide if production is separated by unit, practice, type, or variety. Soft records must include all units and missing, or incomplete soft records may result in comingled production and the loss of optional units.

This may result in a lower guarantee.

If you think you will be submitting a claim that will be above the $200,000 threshold, please contact your agent to begin the APH review process. Most claims will not be paid until the review is completed. The earlier the process begins, the earlier a claim can be paid. For more details, please contact your local GreenStone crop insurance specialist. ■

It is the customer’s responsibility to report the crop that was planted in each section, the planting date, the percent share of that crop and the quantity harvested. Reporting your crop accurately and double checking everything is especially important. Corrections or changes cannot be made after the reporting deadline. If you have any questions or would like assistance, just contact your local GreenStone crop insurance team. ■ Partners — Fall 2023

42

Finishing The Year Off Right By: Chad Zagar, VP and Managing Director of Tax and Accounting The years come and go, and things that our farmers are facing are ever changing – good crops, bad crops, good commodity prices, bad commodity prices. As a result, some of you have had excellent years and some of you are facing more difficult years, and although you can’t change that, it’s always good to control what you can control.

As we get close to the end of the year, many of you start thinking about how to minimize your tax liabilities. Effective tax planning helps customers avoid surprises in tax season.

Effective tax planning helps businesses achieve their financial goals and plan for their upcoming needs – it should lower taxable income, reduce tax rates, provide for greater control of when taxes get paid, and maximize deductions and credits whenever possible.

FARMERS’ RESPONSIBILITIES What can you control? You need to be transparent with your tax accountant in the process and communicate your financial goals. Remember, your tax accountant is not a 43

Fall 2023 — Partners

magician. Here’s a few accounting best practice tips that will help come tax planning time: • Get your records in order: Having an accurate set of financial records is critical for a tax preparer to work with - this doesn’t mean a shoebox with a bunch of receipts.

A computer program or a worksheet that reconciles back to your bank statements and debts should be completed, at a minimum. If you don’t have that set up and do not have the interest or ability, consider getting help with your bookkeeping. It’s part of the operation that can’t be ignored!

• Don’t procrastinate: Waiting until the last minute to get your records in order is a big no-no. You do not want to be scrambling at the end of the year.

• Get off autopilot: It is not uncommon to see farmers make financial decisions that they shouldn’t have made because their books are not up to date. Examples include buying the same amount of prepaids as last year or making a capital expenditure because

you had to last year – only to find out that neither were necessary because you were in a loss position.

• Nothing is irrelevant: Make sure you tell your tax preparer about all equipment purchases. If equipment is dealer or manufacturer-financed, it may not show up in your bank accounts if no payment was made in the tax year. That can be a sizeable capital expenditure that your tax accountant doesn’t know about unless you tell him.

• Meet with your tax accountant: Meet before the end of the year to discuss your current financial situation and what tax bracket you’re likely to be in. Allow enough time to bring in additional income if facing a net operating loss or to make additional purchases if your income is too high.

Don’t be a victim with your income tax situation. Do what you can to control your income tax situation.

FREQUENT TAX PLANNING STRATEGIES From a tax standpoint, there is only one big change this year that will impact many farming customers. Bonus depreciation rules changed effective January 1, 2023. Bonus depreciation is one of the most effective tax minimization planning tools farmers have available to them – in the form of section 179 deductions or the use of bonus depreciation.

100% bonus depreciation begins to phase down effective January 1, 2023, at which point it will only be 80%. In other words, a $700,000 tractor you purchased is maxed at $560,000 of bonus depreciation in 2023,

with $140,000 being depreciated over a seven-year period. Bonus depreciation will continue to drop after 2023 by 20% each year until 2027 when it’s totally phased out.

Tax Calendar...

The impact of this change will continue to increase in future years as the depreciation percentage you are allowed to take reduces going forward.

It is important to note that if you are below the section 179 thresholds, you may not see an impact.

OCTOBER Individuals file a 2022 income tax return (Form 1040) if

16 an automatic six-month extension was requested.

Corporations file a 2022 calendar year income tax return (Form 1120) if you requested an automatic six-month extension.

You can read the full article on the changes to bonus depreciation on our website by scanning the QR code here:

Non-farm employers file Form 941 for the third quarter

31 to report wages paid, and social security, Medicare, and income tax withheld from wages, and compute employer matching social security payments.

DECEMBER Corporations deposit the fourth installment of estimated

15 tax for 2023.

There are a few tax planning strategies to highlight – again, each may not be applicable given your operations circumstances, but are nice to have on your radar.

Methods to decrease taxable income:

JANUARY Individuals make first installment payment of estimated

15 tax for 2023 if you didn't pay your income tax for the year through withholding (Form 1040-ES).

• Farm income averaging: averaging all or some of your farm income using rates from the three prior years.

• Common expenditures to reduce taxable income: prepaying inputs and other allowed items, capital expenditures, and retirement contributions. See above for new details on bonus depreciation.

Depending on your entity structure, retirement plan contributions can be significant, especially for self-employed individuals via a SEP, simple or other qualified plan. This also establishes retirement assets outside of the farming operations – diversification is a good thing!

• Healthcare deductions: creating an employee benefits deduction to allow for business deduction of these expenses.

• Selling under a deferred contract: you can sell grain before the end of the year, but not be paid until after the first of the next year. You then have flexibility to decide, after the fact, if you need additional income in the year that the crop was sold. Make sure you sell in several small contracts rather than one large contract to provide more flexibility for when to show income. Also, consider the risk of collection in your decision-making process.

• As a farmer you can donate commodity inventory to charity; instead of selling that commodity then giving the charity cash, this approach comes with its advantages.

• Due to the increased standard deduction in the 2018 federal tax law changes, many individuals are not receiving any benefit from their charitable contributions. Donating commodities allows you to still deduct the cost of producing commodities against your farm income.

Donating Cash Donating Grain

Donating Impact

Schedule F Net Income

$100,000

$95,000

$(5,000)

Standard Deduction

(27,700)

(27,700)

–

Taxable Income

72,300

67,300

5,000 600

Income Tax

8,236

7,636

Self-Employment Tax

14,129

13,423

706

$22,365

$21,059

$1,306

Total Tax Due

Farmers pay estimated tax for 2023 (Form 1040-ES) or file 2023 return and pay all tax due by March 1.

• Provides for lower farm income and a lower AGI, which may help you when it comes to credit and deduction phase outs.

• As a simplified illustration assume that farmer David and his wife Megan generally donate $5,000 a year to a local charity and can’t itemize their deductions.

As you can see in the chart, the tax savings is $1,306 by changing the process in which you make your donation!

Methods to increase taxable income: • Elect to capitalize repairs rather than expensing them – it can be adjusted annually.

• Maximize depreciation methods, including direct and bonus expenses – try to never depreciate your way out of standard deductions and exemptions.

• If a farm loss is inevitable, common ways to increase income include: IRA distributions, IRA to Roth IRA conversions, sale of non-farm capital assets (i.e. stocks).

• An IRA to Roth IRA conversion generates taxable income on the tax return (which can be offset by farm losses), but the earnings are tax free.

WRAP-UP Income tax planning is where your tax accountants provide the most value to your business operation. If you come with good information to the meeting, you can make the best decisions for your operation on a short-term and long-term basis. Strategies listed within this article are commonly used; however, everyone’s situation and position is unique.

Go into your tax planning sessions with the mindset that nothing is irrelevant. Control what you are able to control! ■ Partners — Fall 2023

44

i Tech Tip: Staying Safe from Wire Fraud:

Recognizing Common Scams and Their Traps By: Matthew Cosgrove GreenStone VP of Information Security

45

Fall 2023 — Partners

Wire fraud is costing people and organizations billions annually. CertifID identified $1.4 billion (about $4 per person in the US) in suspected wire fraud attempts during 2022. That is an increase of 181% from 2017 to 2021 (CertifID, 2022).

This is an urgent issue affecting both businesses and our customers alike. The allure of quick and convenient money transfers is undeniable, but it comes with its own set of risks. The ease and speed that make wire transfers attractive are the same factors that make them a prime target for fraudsters. Fraud like fake invoices, and real estate fraud often exploit the urgency and lack of scrutiny in wire transfer processes.

Here are some tips to help keep you safe!

Common Scams: Wire fraud is a serious crime that can have a devastating impact on victims. Here are just a few of the most common wire fraud tactics and what to look for: • Fake Invoices: Scammers send counterfeit invoices that look like they are from legitimate vendors. They may ask you to wire money to a fraudulent account.

“

The ease and speed that make wire transfers attractive are the same factors that make them a prime target for fraudsters.

• Last-Minute Changes: Sudden changes in account details are a glaring red flag.

Always verify added details through a trusted channel.

• Compromised Emails: A compromised

email account can leak deal-specific information. Always double-check any unusual email activity.

• Unusual Urgency: Scammers use urgency to cloud your judgment. Always question why a transaction needs to be rushed.

Proactive Steps: Wire fraud is a serious

crime, but there are steps you can take to protect yourself. Here are a few proactive steps you can take:

oice Verification: Always verbally confirm •R eal Estate Fraud: Scammers trick you into • V transaction details using a verified and sending money to a fake account during a trusted number. Never call the number property transaction, often by hacking into provided in an email message, and always an individual or business email account. ask questions to confirm the identity of They may pose as a real estate agent or the individual on the other end of the lawyer. conversation to avoid voice modification • P ersonal Impersonation: Scammers pose scammers. as a distressed family member or friend in • S ecure Your Email: Strengthen email need of emergency funds. They may ask security by using robust passwords and you to wire money to a fraudulent account. two-factor authentication. If you think your •O verpayment Scams: Scammers send you email account has been compromised, you a check for more than the amount owed should review inbox rules that might have and ask you to wire back the difference. been created by the attacker to obfuscate The initial check will eventually bounce, their malicious actions – such as auto leaving you out of pocket. forwarding actions.

•B usiness email compromise (BEC): •R egular Monitoring: Keep an eye on your Scammers hack into a business's email bank statements and flag any unauthorized account and send fraudulent emails to transactions immediately. employees, requesting wire transfers. The What to Do If You are a Victim: Wire emails may appear to be from a legitimate transfers are immediate, and this makes it sender, such as a CEO or CFO. difficult to recover funds. However, there are Spotting Red Flags: Awareness is your first line of defense against wire fraud. Scammers still steps you can take if you are a victim of wire fraud. Here is what you should do: are constantly evolving their tactics, so it is important to be aware of the latest red flags.

Here are a few things to look for:

1. Contact your bank immediately: Tell

them that you have been the victim of wire fraud and ask them to stop the wire

transfer if possible. They may also be able to assist the authorities in tracing the money.

2. Report the fraud to the authorities: You can file a complaint with the FBI's Internet

Crime Complaint Center (IC3) at https:// www.ic3.gov/. You can also contact your local law enforcement to report a crime.

3. Keep records of all communication with the scammers: This includes emails, text

messages, and phone calls. These records could be helpful to the authorities in their investigation.

Your Role: The Final Safeguard

While GreenStone and other financial institutions take measures to help secure wire transactions, the ultimate responsibility lies with you. You are the final safeguard against wire fraud. By being aware of the risks, being vigilant, and taking proactive steps, you can significantly reduce your risk of falling prey to wire fraud.

• Be aware of the latest wire fraud: Scammers are constantly evolving their tactics, so it is important to stay up to date on the latest frauds.

•B e vigilant: Do not rush into sending money. If something does not seem right, it is not.

• Take proactive steps: Do not wait for something to happen. Take steps to protect yourself, such as verifying the recipient's information carefully and using a secure payment method.

By following these tips, you can help to protect yourself from wire fraud. Remember, you are the final safeguard.

References

CertifID. (2022). State of Wire Fraud: 2022 Trends and Industry Forecasts. Retrieved from https://www.certifid.com/state-of-wirefraud-2022 ■

Partners — Fall 2023

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3515 West Road East Lansing, MI 48823

Fall feature highlight...

Ryan Schomaker accomplished his dream - he and his wife Taylor purchased his grandmother's farm and built a home on the property to raise their family.

Read more on page 31.