SUMMER 23

3 CEO Comments. President and CEO Travis Jones provides a member update.

11 Guest Article. Building next-gen communication skills can help sustain your family and business well into the future.

13 Market Outlook. The U.S. economy remains strong, but the slowdown is beginning. There are multiple factors that will come into play over for the remainder of 2023 and into 2024.

39 Summer Parties. Embrace the outdoors with family and friends, and enjoy the options of making dinner outdoors.

41 Crop Insurance Feature. Margin Protection or Enhanced Coverage Option? Learn why you should take a look at them this fall.

47 Protecting Your Pocket. Avoid fraud and scams when working with financial institutions.

49 Tech Tip. Spotting phishing scams and securing your digital fields.

Publisher’s Note:

It’s a season of growth – some things inspire it, others deter it. Water and nutrients – and the right environment – can make a world of difference, but it’s also the less tangible things like inspiration and encouragement that can make the biggest impact.

We recently welcomed a few new teammates into our department and wow – they’ve certainly inspired growth amongst us all! Their eagerness to learn has the rest of us embellishing our teaching attributes; their questions and fresh perspectives have us inspired to do even better, think more creatively, and explore bigger possibilities. That sense of growth is all around us, from the crops in the fields to the kids in our communities.

21 Ad Direct.

For more than a decade, GreenStone has partnered with AgDirect®, one of the fastest growing equipment financing programs in the nation.

29 Directors’ Perspective. Three GreenStone directors take a minute to reflect on where they see the focus of GreenStone moving forward.

31 Legislative Matters. The underpinnings of sustainable agriculture practices is having a strong Farm Bill.

32 PAC Progress.

The activities in Lansing, Madison, and DC have slowed slightly during summer recess... But the local meetings are in full swing!

36 Guest Column. Michiganders are some lucky folks, surrounded by an endless amount of natural resources other states only wish they had.

37 Mental Health.

Each year we strive to raise awareness and shine a light on the many available mental health resources.

8 Agriculture Blog Brief

9 Young Beginning Small Farmer

Page 25 introduces GreenStone’s interns who are certainly embracing new ways of learning this summer. The word growth is an understatement when you read about young farmer Tye Thompson – aside from the obvious affinity related to the plants he grows in his greenhouses and on the farm, is the growth of his farm stand business throughout southeast Michigan (page 5). Sometimes growth comes through challenges or life changes, like Gary and Roxanne Pederson who packed up and started fresh with a new home built to host the family as it grows (page 33). And maybe most important for many is growth in faith, like the Natzke family, who have also grown their employee count on the dairy farm and now benefit from GreenStone’s payroll services (page 43).

Whether it’s growth in size, mind, heart or all the above, the benefits compound and help each of us in impactful ways. Here’s to your growth as you read through this issue of Partners, and wishes for prosperous growth in and out of the fields this year! Happy Reading!

– Melissa

William Eva Greg Ricker

Markie Heideman

Melissa Rogers

Mia

CEO Comments:

Summer

As I sit down to write this article, it is the morning of Sunday, June 11. (Our church offers Thursday evening services if we are going to be out of town on a weekend, so not to worry, my wife and I did attend church this week!) I, like many of you, have been praying for rain, not just at church, but every morning. It was supposed to rain last night and all day today. So far, nothing yet at Gun Lake in southwest Michigan.

I got to spend the day with GreenStone’s Board Chair, Ed Reed and Vice Chair, Peter Maxwell on June 1. Peter mentioned his farm in Beaverton, Michigan had not had rain since May 6. It’s 10 days later and still no rain. It is just plain dry. I know you are reading this in July, so I’m hopeful the conditions will have improved, but for now, we will all keep praying. We have seen these cycles before. You, as farmers and our members have seen these types of challenges and certainly GreenStone’s experienced staff has seen them as well. GreenStone is going to be here for our members through all cycles. We have shown that over the last 107 years. We have the financial strength, experience, and products to help our members through many challenges, including dry weather. Many of you already take advantage of a number of our crop insurance products. During dry spells like this year, having that floor underneath us certainly makes us feel better.

On average, the majority of our members started the year from a higher altitude when it comes to balance sheet strength. The last couple years of financial performance for many of our members has given you some cushion for a challenging year. That doesn’t mean the challenges are fun to deal with, it just means that for many, they can avoid a devastating year. We are already seeing margin compression for a number of our commodities. Pork, dairy, eggs, and cash grains to name a few. If you are starting to see cash flow challenges on the horizon, please be proactive in calling your GreenStone financial services officer sooner rather than later. In most instances, we can help you work through your short-term difficulties. The more time we have to work with you, the easier it will be to reach a good outcome.

Financial Strength

One of the reasons we are always here for you is our financial strength. Through the month of May, our financial results continue to be excellent. The following is a brief summary of our interim results as of May 31:

Our financial results continue to be very strong. The numbers above and our operating efficiency continue to make us one of the best performing Farm Credit associations in the country. Our results are always significantly impacted by the credit quality of our members, which is also currently excellent. Thank you for continuing to meet your financial obligations and supporting our cooperative.

Technology Enhancements

Our technology and marketing teams continue to work hard to bring you new tools to make your experience with GreenStone more efficient and enjoyable. One of the latest tools is our new text messaging tool. This will allow GreenStone and our staff to reach customers through our company texting platform, meaning not only adding the convenience of texting, but the ability to provide real time updates and personalized reminders right in the palm of your hands. Watch for more information soon on the simple steps to get signed up!

Partnerships

As some of you know, I don’t bleed green and white (or cardinal and white). I attended the “school in Ann Arbor”. But when I joined GreenStone nearly 16 years ago, it didn’t take me long to discover the special relationship GreenStone has with Michigan State University (MSU). GreenStone is a strong supporter of MSU Extension, scholarships and certainly the College of Agriculture and Natural Resources (CANR).

Our relationship is not unique when it comes to agriculture in the state of Michigan. Many areas of ag within the state have very close relationships amongst each other and with the CANR and MSU. These relationships were on display at a Michigan Agriculture Leaders Dinner in May. The dinner was hosted by Interim MSU President, Dr. Teresa K. Woodruff and her husband, Dr. Thomas O’Halloran. Attendees included representatives from not only GreenStone but Michigan Farm Bureau, and most of the commodity groups in the state. Dr. Kelly Millenbah, Dean and Professor of the CANR also attended.

This was a great opportunity for leaders in agriculture throughout the state to get together and discuss current events and challenges. We also were able to hear Dr. Woodruff speak about current events and topics regarding MSU. As Dr. Woodruff spoke, I was struck by the affection, dedication and excitement she shows when talking about MSU and also the CANR and its relationship with agriculture within the state. She has only been at MSU for three years, but you would think it was 30 years given her articulation of her understanding of the importance of agriculture, as well as her perspective on the impact MSU can have on agriculture within

Michigan. While the MSU Board of Trustees conducts a search for a permanent President of the University, in my opinion, they already have the right person in Dr. Woodruff.

Staff Engagement

I, and members of the GreenStone executive team, have been visiting each of our branches throughout northeast Wisconsin and Michigan. We have visited over two-thirds of our 35 branches so far this year and will visit the rest soon after you read this in July.

I really enjoy visiting with our staff on a more informal basis and hearing about the local marketplace and any challenges or pain points our staff face. Last fall we rolled out new software for our loan and customer management. The opportunities for improved customer service and work efficiency is endless, and with any new tool, having teammates making great suggestions for enhancements continues to be a great part of our branch discussions. Staff's desire to improve and openness to share input speaks volumes for the culture GreenStone has built not only with customers but internally with our employees as well!

Legislative Engagement

On June 13, GreenStone hosted a legislative lunch at the Michigan Capitol. The event allowed our directors and staff to directly connect with approximately 40 state legislators and many more of their staff. This was a great opportunity for GreenStone to network with the legislative teams and explain to many new legislators who GreenStone is and convey the importance of agriculture to the state of Michigan along with some of the challenges our members are facing. We will continue to develop these relationships and invite our members to join us in our education and awareness efforts! Please feel free to reach out to me anytime if I can ever be of assistance. Thank you again for your membership and business!

Travis Jones 517-318-4144