ESCANABA, Mich. (WZMQ) – GreenStone Farm Credit Services celebrated its customers by giving back to them in a big way.
GreenStone provides financing for farms, loggers, and rural residential customers.
The company hosted its 18th annual Patronage Day on March 16. Customers enjoyed food, giveaways, and checks.
Each customer’s patronage check was based on the amount of interest they pay on their loans. According to senior financial services officer Cameron Rowe, most customers receive roughly 1.25% of their yearly payment.
“Our shareholders are actually our customers,” said Rowe. “Each year our board of directors–which is made up of GreenStone customers–gets together, looks at our bottom line, and says, ‘How much of this can we give back to our farmers and customer owners?’ We’re giving back to those who invest in Greenstone, those who partner with us.”
Throughout Michigan and Northeastern Wisconsin, GreenStone gave a total of $120 million back to its customers.