Fall / 2026
magazine
Produced by: GreenStone FCS
Fall features 21 Connect GreenStone Story. We are proud to announce a 95% customer satisfaction score for the second consecutive year, and the 22nd consecutive year we have exceeded 90% satisfaction.
29 Live Country Living Customer Feature. For Jordan Browne, the outdoors has always been more than a place to enjoy. It’s a refuge, a place to slow down and unwind, spend time with family, and so much more.
39 Learn Crop Insurance Customer Feature. Partners in the fruit industery Nate Wilson and Nate Zenner knew mitigating risk for their produce was nonnegotiable.
This newsletter is published quarterly for the customers of GreenStone Farm Credit Services. Editorial
Art & Design
Jessica Burau Emma Briggs Linnea Jones Isabella Losey Melissa Rogers Shelby Roland Kate Thiel Caleb Yarbrough
William Eva Olivia Gallt
Partners GreenStone Farm Credit Services
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Grow GreenStone members Walter and Deidre Iciek operate dairy farms in Gladwin, Mich. and Clare, Mich. Tara Parr (right), VP of agribusiness lending at GreenStone, has supported the Icieks as they have scaled their operation.
3515 West Road East Lansing, MI 48823 800-444-3276 marketing@greenstonefcs.com
Fall contents 3 CEO Comments. President and CEO Travis Jones shares updates, results of GreenStone’s annual customer satisfaction survey and some notable recognitions.
43 Tax and Accounting Feature. Another calendar year is drawing to a close, and now is the time to begin evaluating your tax position before December 31.
11 Guest Column. Environmental scientist Alan Hahn discusses the risks and liability associated with PFAS and biosolids.
45 Tech Tip. Scammers and aggressive marketers are counting on consumers to react when they receive fraudulent communications. Use these tips to stay safe.
13 Market Outlook. Preasure from multiple sources are testing the resilience of the U.S. economy and agricultural commodities.
8 Agriculture Knowledge and Resources
27 Legislative Matters. Although Congress has repeatedly extended the 2018 Farm Bill, lawmakers continue to work toward a comprehensive replacement commonly referred to as “Farm Bill 2.0.” 28 PAC Progress. Engagement has remained essential to advancing legislative and regulatory priorities that affect agriculture and rural America. 33 Guest Column. Passionate outdoor enthusiiasts are doing their part to keep the hunting camp tradition alive and well. 34 Harvest Road Safety. Whether you’re behind the wheel of a car or a piece of farm equipment, a few thoughtful habits can make the season safer for everyone. 35 The Wellness Case for Agritourism. As farms open their gates for fall activities, agritourism becomes a pathway to experience that restorative calm firsthand.
9 CultivateGrowth Resources 16 Member News 19 Calendar of Events 20 Reducing Your Fraud Risks 22 Candid Comments 23 Land Benchmark Results 25 Behind the Scenes 26 Pause for Applause 32 Country Living Knowledge and Resources 36 Commodity Cuisine... Apple Crumble Bars 37 Crop Insurance News 38 Crop Insurance Calendar 44 Tax Calendar
Publisher’s Note: Last night I filled my vehicle’s gas tank, and swallowed hard at the total. Tomorrow, I’ll be welcoming a, unplanned but necessary, new furnace. My story is no different than many of yours - life is full of the unexpected. Amplify those unknowns, and the expenses that go with them, by the scope of what’s going on in your lives and businesses, and my pity party seems trivial. Nonetheless, how we prepare for the unknown and protect ourselves against them can make all the difference. This issue of Partners captures the experience of a few of those customers as they progress toward their dreams, facing roadblocks head-on, and using resources to help them navigate each turn. A teacher’s wife turned multi-dairy owner, Deidre Iciek’s trajectory spanned the nation and landed back home in Michigan where they maneuvered each opportunity – planned or not – with an openness to learn and grow; read about it on page 5. For Jordan Browne, page 29, his degree in finance morphed into an unexpected career in videography; he’s now a key part of Michigan Out of Doors TV and enjoying hunting, recreation, and family living on his rural acreage thanks to his passion and planning. Then, follow Nate and Nate on page 39 who together have realized the value in planning for the storm with the support provided for their fruit farm through crop insurance. Finally, consider your own story, and take the necessary steps to protect yourself from the unexpected using the many tips provided in the fraud protection and tech tip articles on pages 20 and 45. Whether you’re servicing a fleet of trucks this harvest or feeding a family this fall, we hope your own preparation and planning allow you to face the season with confidence, and ultimately gratitude for the opportunity. Happy reading, and be safe this fall! Melissa
CEO comments
Fall Update Fall has arrived. Very important elections are coming up on November 3rd, including governor races in both Wisconsin and Michigan. State administrations have a tremendous impact on how our farmers and members are treated from a regulatory standpoint. Please remind all of your friends to vote on election day. From my window, it seems like we have had plenty of rain over the last few weeks. It definitely would have helped our corn and soybeans a lot more if that rain had arrived four to six weeks earlier. Although, there may still be some time for it to assist with the sugar beet tonnage. Now, we need some drier weather for fall harvest. Our farmers work hard all year, but cooperative weather patterns remain a must. Another reason we continue to say our prayers daily - hoping and praying you have a safe and successful harvest season. Our Board of Directors and executive team hosted a joint board meeting in August with the Board and executive team of Farm Credit of Western Arkansas. The meeting with our Farm Credit partners was very successful. The group learned how each of our associations go to market, the commodity mix of our members, and discussed each association’s successes, challenges, and technology. Along with the meeting, we were able to engage with a GreenStone customer when we toured their dairy farm in southwest Michigan. Our team had outstanding numbers to report to our Board. For the first half of the year, GreenStone had the best financial results of any Farm Credit association in the country. Loan growth, credit quality, profitability, operating efficiency, and capital all remain very strong through August. Our financial success is a direct result of the dedication, commitment, and success of our members. Thank you for your support. 3
Partners Magazine
The results of our customer satisfaction survey were received in July and they were again excellent. Overall, 95% of our members who responded to the survey we satisfied and highly satisfied. The results of our customer satisfaction survey were received in July and they were again excellent. Overall, 95% of our members who responded to the survey were satisfied and highly satisfied. These are outstanding results for any business, especially financial institutions. All of our business lines, whether agricultural or country living lending, crop insurance or tax and accounting, received excellent scores. Our GreenStone teammates continue to follow our Core Four values every day: Customer First, Do the Right Thing, Deliver Quality and Get Involved. I really believe it’s our team’s commitment to these values that drives the customer service our members see with every interaction. Speaking of the team, another member of our executive team has announced their retirement. Paul Anderson, our Executive Vice President and Chief Credit Officer, will be retiring in January 2027 following a 43year career with the Farm Credit System. Paul started his career with Farm Credit in 1983 when he began as a loan officer with Farm Credit Services of Northeast Wisconsin. From 1992 through 2004, Paul was employed by AgriBank, with most of his responsibilities leading the Wisconsin Risk Asset Unit. In 2005, GreenStone’s Chief Credit Officer at the time, Jerry Brian, made the outstanding decision to hire Paul as our Director of Risk Assets. After Jerry’s retirement in 2009, Paul was promoted to the Chief Credit Officer for GreenStone. During Paul’s time as Chief Credit Officer, he has managed the growth
in GreenStone’s total assets from $4.8 billion to $16.3 billion today. With him on our executive team, our Patronage payments to our members have grown from $12 million in 2009 to $125 million this year. GreenStone and I will continue to rely on Paul for his leadership until his retirement as he now serves as Executive Vice President and Strategic Advisor. During retirement, Paul will get to spend extra time with his wonderful wife Tammy and continue to keep tabs on their talented daughters, Amy and Ashley. I can’t thank Paul enough for his friendship and leadership. Paul’s contributions to our members in northeast Wisconsin, Michigan, and the GreenStone organization are too numerous to count. He has built an outstanding credit department with a very deep bench.
Also included in this issue of our Partners magazine is recognition for the Women in Agribusiness award received by our GreenStone Director Terri Hawbaker. We’re proud to have board members who bring varied experiences and perspectives to the association, and are pleased to see Terri recognized with this honor. Congratulations Terri! I hope all of our members have a great fall! And to our farmer members, I hope you have a very successful harvest! Please feel free to reach out to me any time if I can ever be of assistance. As always, thank you for feeding my family, our country, and the world, and thank you for your membership! ◀
Speaking of the deep bench, I am pleased to announce that Mike Frodermann was promoted to Executive Vice President and Chief Credit Officer, effective September 1, 2026. Mike joined GreenStone in December 2024 as Senior Vice President of Portfolio Risk Management. Since then, he has provided strategic oversight of portfolio risk management across all business segments, chaired key credit committees, and helped advance initiatives that support GreenStone’s business objectives. You can read more on the depth of experience Mike brings to his new role on page 18. Congratulations Mike!
Travis D. Jones
517-318-4144 travis.jones@greenstonefcs.com Partners Magazine
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CultivateGrowth customer feature
Cultivating Growth and Growing in Leadership Deidre Iciek thought she was marrying a teacher. But life had different plans. Today, she leads a growing dairy operation alongside her husband, mentors other producers, and was recently honored as a recipient of a national award recognizing her dedication to agriculture and supporting the next generation of female farmers. The recognition was a fitting milestone in a journey that took Deidre from a reluctant farmer to a nationally recognized leader in the industry. Growing Into Opportunity
Deidre met her husband, Walter, while they were students at Michigan State University. Walter was studying agricultural education with plans to become a teacher and FFA advisor. Deidre earned a degree in environmental studies and envisioned a career supporting agriculture from the outside, not running a farm herself. “I thought I was marrying a teacher,” Deidre said with a smile. “I thought we were going to have summers off and spend time hanging out at county fairs. This was not in the plan.” Walter was raised on a small dairy operation near Gladwin, Mich. His father had grown up on a dairy farm before pursuing a career as an engineer and later purchased the dairy so his own family could experience farm life.
After the Icieks married, Walter spent a brief time teaching before returning to work on his family’s farm. Deidre built a career in environmental compliance and agricultural consulting. While Walter increasingly saw a future for their family in dairy farming, Deidre remained unconvinced. “I was very, very hesitant,” she said. “I understood the time commitment, the financial investment, and the sacrifices that come with operating a dairy farm.” A few years later, as Deidre completed her master’s degree at Central Michigan University, the couple made a decision that would shape their future. They packed up their life and moved to Colorado. “We didn’t have kids at that point. We wanted to go somewhere else and try something new for a while,” Deidre said. Deidre and Walter both found jobs within agriculture and were exposed to successful operations, innovative business leaders, and key mentors who helped them see the potential in growing their own operation back in Michigan. In 2014, the couple returned to Michigan and sat down with Walter’s parents to discuss the future of the operation. If they were going to take over the farm, they wanted to grow it into a full-scale operation using what they learned during their time in Colorado.
I was very, very hesitant... I understood the time commitment, the financial investment, and the sacrifices that come with operating a dairy farm. ◀ Pictured Left: Deidre and Walter Iciek and their sons, Casey and Judah, enjoy spending time together at the family’s dairy operation in Gladwin, Mich.
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“There was an opportunity here, obviously, to be able to scale and grow and make something more viable, but it was going to take a vision,” Deidre said. The timing seemed ideal. Dairy prices were strong and optimism was high. But shortly after making the leap and moving back to Michigan, market conditions deteriorated. The next several years tested every assumption they had made. Like many dairy producers during that period, the Icieks found themselves navigating low milk prices, market oversupply and relentless financial pressure. Those difficult years reinforced one of the most important lessons of their journey — success does not happen alone. As the operation evolved, so did the Icieks’ relationship with GreenStone. As young and beginning farmers, the Icieks were enrolled in GreenStone’s
CultivateGrowth program. Through the program, they were paired with a mentor to help guide them through challenges of growing their operation. Henrik Eggink, their mentor, provided invaluable support and they still stay in touch with him to this day. According to Deidre, the most important lesson she and Walter learned during these early years was learning to seek advice, ask questions, and surround themselves with people who had achieved the things they could only dream about doing. “You don’t know what you don’t know,” she said. That growth mindset became a foundation for the Iciek’s business. Through CultivateGrowth financing opportunities and guidance from GreenStone financial experts, they were able to pursue strategic opportunities as they arose, including farmland purchases critical to the future of their business. Today, the operation’s success rests on a philosophy that extends far beyond production numbers. “We consider ourselves to be founded on relationships,” Deidre said. “We’ve built a really strong culture. We don’t ever want just a warm body filling a job. We want people who invest in us and we invest in them.” The same philosophy extends to how the Icieks care for their animals. “Our animals’ health is very, very important to us,” Deidre said. “We have really high standards for how our cows are taken care of.” As their dairy has expanded, the Icieks have remained committed to growing without compromising the principles that got them where they are today. Employee relationships, animal husbandry, stewardship, and longterm sustainability remain foundational to every decision they make. Tara Parr, VP of agribusiness lending at GreenStone, has worked closely with the Icieks as they have expanded their dairy.
▲ (Top) Deidre listens to a presentation in Gettysburg, Penn. during the AWARD program event this summer. (Bottom) Deidre and Walter tour the dairy facility with Tara (left) just as they have throughout the many years of their partnership with GreenStone.
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“It has been a privilege to work alongside the Icieks as they have grown their operation over the years. Their dedication and innovation have been evident every step of the way, with a forward-thinking approach to growing their operation,” Tara said. That commitment has also shaped Deidre’s work off the farm.
Drawing from her background in environmental consulting, she spent years helping agricultural producers navigate regulatory requirements, conservation practices, and sustainability initiatives. Along the way, she found herself learning as much from the producers she worked with as they learned from her. Over time, her consulting work shifted toward conservation and regenerative agriculture. She has implemented many of these practices on her own operation. “We’ve had tremendous success with it here,” Deidre said. “We really believe … it has drastically improved our soils and our crops.” From First Time Farmer to Industry Leader
Earlier this year, Deidre was honored as a recipient of the Advancing Women in Agriculture through Resilience & Distinction (AWARD) program, a national initiative created by the Farm Credit Council to recognize women who demonstrate dedication to agriculture, leadership within their communities, and a commitment to advancing the industry. The experience culminated with a special session of the FCCS Women of Distinction Program in Gettysburg, Penn., bringing together female agricultural leaders from across the country. For those who know Deidre’s story, the honor represents much more than a professional accolade.
“Deidre wants to make the world around her better for the benefit of other people. Whether it is our farm, the school playground, or her 4-H club. The girl I fell in love with in college wanted to make the world better. Now, she’s the woman doing just that,” said Walter.
taking on a second dairy facility in Clare, Mich., creating new opportunities and new challenges. When asked where the business will be in five or 10 years, Deidre reflects on how far they’ve already come. “We’ve already achieved more than what I ever envisioned,” she said.
Years earlier, Deidre never envisioned herself operating a dairy farm, let alone helping lead a growing dairy enterprise while contributing to conversations around farm management, environmental stewardship, and the future of agriculture. What began as reluctance toward farm ownership gradually transformed into a leadership role that extends well beyond her own operation.
Much of that vision now centers on the next generation. The couple’s two sons, Judah and Casey, are still young, and Deidre hopes to create opportunities for them without obligating them to take over the family business.
Her recognition through the AWARD program serves as a testament not only to the growth of the Iciek’s operation, but also to her impact as an agricultural leader and as an example for the next generation of women in the industry. “Deidre’s passion not only for the dairy industry, but agriculture, is evident in her being named one of Farm Credit’s AWARD winners for the International Year of the Woman Farmer. She approaches every opportunity with determination and a clear vision for the future,” Tara said. Today, the operation continues to evolve. About a year ago, the Icieks expanded by
“It would be great if our kids wanted to do this someday,” she said. “Our goal is creating something that’s there for them if they want to take it over, but also not putting pressure on them.” For Deidre, the future is less about pursuing a predetermined destination and more about remaining open to opportunities and taking advantage of them when they arise. Her recognition through the AWARD program serves as an exclamation point on that journey. It recognizes not only the success of a growing dairy operation, but also the influence of a woman whose leadership is helping strengthen agriculture and inspire future generations of women in the industry. ◀
Agriculture – Knowledge and Resources GreenStone publishes regular updates on our Knowledge and Resources page. Check out some of the posts you may have missed at www.greenstonefcs.com/resources/knowledge-resources. How to Financially Prepare for Harvest Season
Rethinking Your Farm’s Equipment Costs
Supporting Rural Dreams of All Sizes
By preparing both operationally and financially ahead of harvest, producers can reduce risk, improve decision-making, and position their businesses for a stronger finish to the year.
When deciding whether to buy, lease, or utilize custom services, it’s important to closely examine your machinery needs and costs associated with each to determine the right move for your farm.
No matter the size of your operation, our team of lending experts can work with you to find a solution for your unique needs. Whether you farm five or 5,000 acres, we have financing options to support you. ◀
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CultivateGrowth resources
Each grant supports personalized opportunities to help you grow your operation. GreenStone is proud to invest in the future of farming.
Sip on these fall opportunities! Save the Date for GreenStone’s CultivateGrowth Conference GreenStone’s fifth annual CultivateGrowth Conference is scheduled for March 11-12, 2027! This year’s event will feature keynote speaker Eric Snodgrass with Nutrien Ag Solutions, along with breakout sessions and financial workshops. Registration is free, but space is limited. Be on the lookout for registration information in November. Grant Promotion: Looking to attend an event or take a new informational course? If you are a young, beginning, or small farmer, GreenStone’s CultivateGrowth grant can help! Customers may receive up to $1,000, and non-customers up
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to $500, to cover costs for agrelated programs like courses, events, or conference fees. Grants can also be used for first-time use of GreenStone tax and accounting services. Each grant supports personalized opportunities to help you grow your operation. GreenStone is proud to invest in the future of farming. Learn more and apply on our website, greenstonefcs.com/ grant. Resources to Keep in Mind: Michigan State University Extension’s DEMaND (Developing and Educating Managers and New Decisionmakers) Series offers numerous resources and guides. The latest online course, Grain Gains: An Introduction to Grain Marketing, is now available.
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Grain Gains is a self-paced virtual course that aids farmers in understanding the fundamental principles involved in grain marketing. It includes a review of the commodity markets, the use of pricing decision tools, and how to develop a marketing plan to fit specific farm needs. This course will help build your comfort and confidence in marketing grain for farm businesses. Registration is required and offered at a price of $50. The registration fee is a one-time payment for life-time access to the course and its content. Scan the QR code for registration instructions. ◀
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PFAS Hazard Classification and Reconsidering the Draft Risk Assessment for Biosolids BY: ALAN HAHN, Environmental Scientist
For agriculture, there are two overriding concerns with respect to per- and polyfluoroalkyl substances (PFAS). First, do farmers who have applied biosolids to their fields face potential environmental liability concerns? The answer to this question has remained unclear because regulations are either not final or are being challenged. The second major concern is what effects PFAS may have on crops. Environmental Liability The estimates of the number of individual PFAS compounds that have been manufactured range from 10,000 to 15,000, and they have been used 11
in millions of industrial and consumer products. Of these, two compounds, Perfluorooctanoic Acid (PFOA) and Perfluorooctane Sulfonic Acid (PFOS), have been the most thoroughly studied. PFOA and PFOS are also regulated by the United States Environmental Protection Agency (EPA). Both PFOA and PFOS are classified and regulated as hazardous substances under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), or often referred to as “Superfund” law. These PFAS are classified as hazardous.
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For farmers, this may be important because PFOA and PFOS could be in the sludge of wastewater treatment plants. If this treated sludge (aka biosolids) is land applied, it could result in a CERCLA hazardous substance being applied to their farm field. CERCLA liability is complex and potentially presents several legal challenges. Several years ago, farm fields in Maine were impacted by PFAS-containing biosolids. According to the Maine Department of Agriculture, Conservation and Forestry, “PFAS chemicals from the application of municipal sludge and other sources have
impacted 90 Maine farms to varying degrees.” In Michigan, only one farm is officially known to be affected by PFAS: a cattle farm in Livingston County. What are “Acceptable” Levels This brings us to the most recent controversy. In 2024, the “Draft Risk Assessment to Advance Scientific Understanding of PFOA and PFOS in Biosolids” report was released. That report states, “Based on the modeling in the draft sewage sludge risk assessment, the EPA finds that there may be human health risks exceeding the EPA’s acceptable thresholds for some modeled scenarios when land-
As with other human health and environmental exposure scenarios, there are limited data and understanding regarding the effects of PFAS on crops.
PFOA concentration at or above 20 μg/kg, but below 100 μg/kg, are considered elevated. Concentrations at this level have specific requirements, including a reduction in land application rate. • Biosolids with a PFOS or PFOA ≥ 100 µg/kg are deemed industrially impacted and cannot be land applied. Note that if federal limits are more stringent than state limits, the federal rules will take precedence. applying sewage sludge that contains 1 part per billion (ppb) of PFOA or PFOS.” On July 1, 2026, the EPA issued a notice seeking comments on the 2024 Draft Risk Assessment. The notice from the EPA states, “After reviewing extensive public input, EPA determined that the previous administration’s Draft Risk Assessment relied on assumptions too disconnected from real-world conditions to give Americans clear, actionable information.” As of this writing, there have been thousands of comments submitted. The comment period closed on October 5, 2026.
Michigan Biosolids “Interim Strategy” In January 2024, the Michigan Department of Environment, Great Lakes, and Energy issued an Interim Strategy for addressing PFOA and PFOS in biosolids. • PFOS and PFOA < 20 µg/kg (or parts per billion): Biosolids with PFOS and PFOA concentrations below 20 µg/ kg may be land-applied with no additional requirements after submittal of results via MiEnviro Portal and communication of results to the landowner/farmer. • PFOS or PFOA ≥ 20 µg/kg: Biosolids with a PFOS or
How do PFAS Affect Crops? As with other human health and environmental exposure scenarios, there are limited data and understanding regarding the effects of PFAS on crops. On July 7, 2026, Michigan State University (MSU) Extension issued a release that said, in part, “As of now, there is limited published data in the scientific literature on PFAS uptake and accumulation in forage plants on farm fields. The majority of the studies on plant uptake of PFAS are limited to common grains and vegetables, and the comparisons vary among different plant species
with varying physiological characteristics.” The report from MSU cites other studies around the globe, including one in China that found that in “highly contaminated” agricultural fields, “Grains had the least PFAS accumulation compared to roots, flowers, fruits and shoots.” You can find more information on MSU’s PFAS Research website (canr.msu.edu/pfas/). There are still far more questions than answers when it comes to PFAS. The most important takeaway currently is that short of a successful appeal to the US Supreme Court, PFOA and PFOS are classified as hazardous substances and, as such, must be taken into consideration by farmers. For more information on PFAS, see Partners Fall 2023 and Fall 2024. ◀ About the author: Alan Hahn is an Environmental Professional and Business Development Manager at The Dragun Corporation in Farmington Hills, Michigan. The opinions stated herein are not necessarily those of GreenStone Farm Credit Services.
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Market outlook
Fall Forecast BY: GARRETT ANDERSON, Regional Credit Manager and EMILY BLOCHER, Credit Analyst
U.S. gross domestic product (GDP) annual growth slowed in the second quarter to 1.50% after growth of 2.10% in the first quarter of 2026. Imports and government spending slowed the most while consumer spending including both goods and services, investment, and exports advanced ahead of last quarter’s growth. Along with a deceleration in 13
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GDP, both the labor economy and inflation reports came in softer than expected this summer according to the Bureau of Labor Statistics. July saw the consumer price index (CPI) notch down slightly to 3.40% from 3.50% in June and 4.20% in May. Energy prices were the biggest contributing factor to the decrease down month over month after the spike from the war in Iran which began in March.
One more potential headwind for the US economy is an ongoing trade war between the US and Canada which recently flared up. The labor market awoke in August, adding 162,000 jobs after a sluggish summer with only 21,000 jobs added in July and 31,000 added in June. The unemployment rate remained at 4.10% for the second month in a row with a slight uptick in labor force participation for the first time in eight months. Total jobs added in August were twice what analysts had predicted after the slowdown in June and July. Healthcare remained one of the industry’s leading job gains in August along with leisure and hospitality. The Federal Reserve concluded its highly anticipated policy meeting on September 16, 2026, voting unanimously to raise its benchmark interest rate by 25 basis points. This decision brings the federal funds rate to a new target range of 3.75% to 4%, marking the central bank’s first interest rate hike since July 2023. Led by Federal Reserve
Chairman Kevin Warsh, the 12–0 vote reflects a sharp policy turnaround aimed at combating elevated inflation driven by rising global oil prices and a resilient domestic economy. One more potential headwind for the US economy is an ongoing trade war between the US and Canada which recently flared up. In August, trade talks between the two nations broke down at the 11th hour with President Trump imposing a 50% duty on certain Canadian goods. A response from Canada came less than a week later with incremental rates set to match the US rates reaching as high as 50% starting in September. Both countries cite the need to protect their own citizens and business interests for the rising rates. Corn and Soybeans
The September 11, 2026 World Agricultural Supply and Demand Estimates (WASDE) report continues to reflect a
stable outlook for the corn and soybean markets. Production for the 2026 crop year is forecast at 15.8 billion bushels, down 213 million bushels. Yields are forecast at an average of 178.5 bushels per acre, down 2.2 bushels per acre. As foreign producers, particularly Ukraine, faced adverse weather conditions and lower yields, U.S. corn exports remain unchanged at 3.3 billion bushels, reflecting steady demand. As a result, corn prices are forecast to increase to $4.80 per bushel, up $.30 per bushel. Overall, the corn market remains constant, with global stock at 272.1 million metric tons, down 2.6 million, resulting from low yields. Similarly, soybean production for the 2026 crop year is forecast at 4.5 billion bushels, an increase of 16 million bushels, as additional harvested acreage offsets lower yields. Yields are forecast at 52.8 bushels per acre,
up 0.1 bushels per acre. Similar to corn, demand for soybeans has increased due to lower yields and adverse weather conditions in key international producing regions. As a result, soybean prices increased at an average of $12.00 per bushel, up $.60. Meanwhile, soybean oil prices remain at $.70 per pound. Broadly, the soybean market continues to experience steady demand growth, while the corn market remains relatively stable. Dairy
Producers’ income over feed costs using the Dairy Margin Coverage (DMC) calculation continued to improve through June, rising to $10.88/cwt. July however, retreated to $9.93/ cwt following a drop off in both Class III and Class IV prices and an uptick in feed prices. With these positive margins, dairy producers continue to add cows with the national dairy herd growing to 9.71 million
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Mexico continues to be the largest export destination for US dairy products accounting for 27% of the US exports by volume.
supplies stay strong, producers may need to focus on cost controls and additional risk management opportunities. Pork
head, up 199,000 more than the prior year. Beef sales are not considered in the DMC calculation but continue to have a material impact to producers’ bottom lines. Crossbred calf values peaked in June, when producers could sell newborn calves for $1,800 - $2,000/ head. Calves at the end of July were worth about $400 less than the peak as cattle prices dropped coinciding with the US announcement it was reopening the border to feeders from Mexico. Despite the drop, beef calf revenue continues to be a material revenue source for producers contributing the equivalent of $4-$5/cwt of milk production. As milk margins compress, the cattle side of the equation has helped fuel and justify dairy expansions. At the same time, significant investment in processing capacity and new cheese plants have created a 15
strong demand for milk. In addition to the larger herd, milk yields continue to increase. The export markets have helped move these products as cheese exports are up 25% from the already strong volumes shipped through July 2025. Butter and milkfat exports also exceeded 2025 levels, but at a slower pace of 2.4%. Mexico continues to be the largest export destination for US dairy products accounting for 27% of the US exports by volume. Exports have been up year-over-year for eight consecutive months, and cheese exports hit record highs in more than half of the past 13 months. Key factors impacting the dairy outlook include cattle prices, feed costs, and dairy trade. If global production slows and cattle values stay supportive, the economics may continue to support expansion. However, if feed prices increase and global
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The typical increases during “grilling season” for wholesale and market hog prices did not materialize this year, upon which pork producers rely for profitability, while feed costs have climbed over the summer. Producer margins over the last quarter fell well short of expectations and the outlook for margins over the next year have returned to a break-even or slightly worse scenario as of September. Fourth quarter market hog futures peaked six months ago at $94/cwt and $85/ cwt for October and December futures respectively and as recently as six weeks ago stood at $89/cwt and $80/cwt. By late August those had fallen to just $80/cwt and $70/cwt and have since improved $4-$5/cwt. In contrast, December corn futures have increased from a low of $4.30/bu. at the end of June to $5.30/bu. by September, up 23%, while soybean meal futures moved from $300/ton to $350/ ton over that time. This market volatility underscores the importance of utilizing hedging strategies (forward contracts, futures, options, and/or LRP/LGM) to take advantage of favorable
commodity prices and margins when available. Futures markets followed the downward trend of the Pork Cutout (wholesale composite price) and the resulting lower cash prices being paid to producers as packers work to maintain profitable margins. Producers have had incentive to feed pigs to heavier market weights given lower feed prices. That has resulted in increased pork supplies as demand has been waning, driving cash hog prices lower. The CME Lean Hog Index, which had been above average for the first few months of the year, did not reach 2025 levels over the summer and peaked at $98/cwt, over $20/ cwt (~$45/head) below the 2025 peak. It is currently $90/ cwt, down 14% from a year ago. The US sow herd continues to decrease slightly per USDA’s June Quarterly Hogs and Pigs Report at 5.88 million sows, but productivity (pigs saved per litter) has improved to a record high of 11.87 pigs/litter, offsetting the lower herd size impact to pork supplies. Until recently, US producers were able to maintain good profitability while producers in the rest of the world were struggling with sharp losses and reducing herd sizes. Export demand for US pork will be a key driver of any return to those margins, along with a moderation in feed costs. ◀
Fall member news
Interns Wrap-Up This summer, 19 interns concluded their time at GreenStone with a season of meaningful projects, hands-on responsibility, and relationships built across the organization. Throughout the summer, each intern took on individual work tied directly to their department’s priorities, building out skills they will take with them as they grow into their career. Those projects culminated in individual capstone presentations where interns presented to GreenStone’s President and CEO, Travis Jones, the leadership team, and their coworkers. These presentations gave interns a chance to walk through their summer process, share what they discovered along the way, and speak to the challenges they may have faced.
Beyond their capstone work, interns participated in volunteer events, customer visits, and career development opportunities designed to broaden their experience beyond their day-to-day responsibilities. These opportunities encouraged interns to expand their knowledge, and skill sets in a professional environment. Through impactful projects, meaningful events, cross-departmental job shadowing, and mentorship from professionals throughout the company, GreenStone ensured each intern had the resources they needed to succeed. To celebrate the work done by our interns, they attended a networking lunch alongside countless GreenStone employees, providing a valuable opportunity to connect directly with
leaders and coworkers before returning to campus this fall. As summer transitions to fall, GreenStone reflects on the contributions of this year’s interns. Their curiosity, initiative, and fresh perspectives made a meaningful impact on the teams they supported, and the professional relationships formed this summer continue to benefit all involved. GreenStone looks forward to following these interns’ continued growth and success. The GreenStone team thanks this year’s interns for a summer of hard work and genuine contribution. If you or a student you know if interested in learning more about GreenStone’s internship program or career opportunities, check out our website! ◀
Connect / Partners Magazine
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Jessica Hurd named senior vice president of regional operations GreenStone has named Jessica Hurd senior vice president of operations, succeeding Jack Koester, who will retire Nov. 2 after nearly 40 years with the association.
Jessica returns to GreenStone from the Insight Technology Unit (ITU), a specialized technology and shared services organization supporting several Farm Credit associations, where she served as vice president and managing director since 2022. A familiar face to many across the association, she began her career with GreenStone in 2010 and spent more than a decade serving in various roles across multiple departments. Throughout her tenure, she helped lead significant initiatives that strengthened GreenStone’s ability to serve members while adapting to changing technologies and business needs. In her new role, Jessica will lead the teams responsible for many of the systems and processes that support GreenStone’s daily operations and member experience. Her experience and leadership will help guide the association as it continues investing in technology, efficiency, and service enhancements designed to meet the evolving needs of rural communities and agriculture. 17
“I am so excited to have Jessica lead the operations team at GreenStone. Jessica has a wonderfully broad perspective of our customers and employees from her previous experience with the operations, sales, and the technology teams. Her passion for innovation and process improvement will help the operations team continue to evolve as our customers do,” said Kim Brunner, GreenStone’s executive vice president and chief financial officer. “My career at GreenStone has taken me from operations to sales then to technology, so stepping into this role feels a little like coming home, but with a new perspective. Each experience has shaped how I approach challenges and reinforced that a change in one area can affect our entire organization and, ultimately, our customers,” Jessica said. “I’m excited to bring those lessons back to the business side while supporting an Operations team that is truly part of GreenStone’s DNA. My goal is to listen, learn and serve the team well, preserving what already makes GreenStone special while thoughtfully strengthening our culture, processes and customer experience for the future,” she said. To ensure a smooth transition, she will work closely with Jack prior to his retirement. Together with GreenStone’s experienced operations leadership team, she will continue building on the strong operational foundation that helps the association deliver reliable, responsive service to members. ◀
Partners Magazine / Connect
GreenStone Deer Challenge Calling all deer hunters in northeast Wisconsin and Michigan’s Upper Peninsula! Turn your trophy buck into cash this season with GreenStone’s annual Deer Challenge. Don’t miss this opportunity to show off your hunting skills and win dollars for your deer. The contest is free to enter. Participants will compete for $1,000 in cash prizes. The challenge is open to all Wisconsin residents who harvest a deer in GreenStone’s northeast Wisconsin territory or Michigan’s Upper Peninsula between Sept. 12 and Nov. 30, 2026. The Big Buck class will include eligible participants 18 years and older. Hunters 17 years and younger are invited to compete in the Junior Buck class. Big Buck Contest (Adults 18 years and older) • First Place - $400 • Second Place - $200 • Third Place - $100 Junior Buck (17 years and younger) • First Place - $200 • Second Place - $100 In addition to being eligible for a cash prize, junior hunters who harvest their first deer during the challenge will receive a trophy that can be picked up at their nearest GreenStone branch. All participants who harvest a buck or doe with a legal gun, bow, muzzleloader, or crossbow and enter the contest will be entered in a drawing to win a game camera or a $25 gift card. To enter, scan the QR code to complete the entry form or drop off a completed entry form with witness signature and photos of the deer to GreenStone’s Clintonville, Coleman, Escanaba, Little Chute, Manitowoc, and Sturgeon Bay branches. All entry forms must be submitted by Dec. 4, 2026. For complete contest rules, contact your local Wisconsin or Michigan Upper Peninsula branch. ◀
Michael Frodermann named executive vice president and chief credit officer GreenStone has named Michael Frodermann executive vice president and chief credit officer, where he will serve as the association’s executive credit leader and support the continued fiscal health and growth of the cooperative. Mike will succeed Paul Anderson, who will retire in January 2027, after 43 years of service with Farm Credit.
administration, underwriting, portfolio management, and risk oversight.
Mike joined GreenStone in 2024 as senior vice president of portfolio risk management where he helped chart the credit department’s strategic direction and coordinated operational management to support portfolio risk management for all market segments, including agribusiness lending. Mike has also served as chair of GreenStone’s executive, capital markets, and agribusiness lending credit committees. As the executive leader for GreenStone’s credit function, Mike will oversee credit
“Since joining GreenStone, Mike has provided strategic oversight of portfolio risk management across all business segments, chaired key credit committees and helped advance initiatives that support our business objectives,” said Travis Jones, president and chief executive officer of GreenStone. “Mike brings nearly 30 years of commercial finance and credit leadership experience, along with a deep understanding of the agricultural lending environment and the needs of our members.”
Paul will serve as executive vice president and strategic adviser until his retirement, helping ensure a smooth leadership transition and continuity across GreenStone’s credit operations. During his tenure, Paul helped strengthen GreenStone’s credit organization and risk management framework, supporting the association’s growth and long-term financial strength. During his tenure as chief credit officer, he managed the growth in GreenStone’s total assets from $4.8 billion to more than $16 billion today.
Prior to joining GreenStone, Mike served as senior vice president of credit and operations at AgCountry Farm Credit Services/FCS Commercial Finance Group, where he led credit underwriting, approval, operations, portfolio administration and regulatory oversight for a commercial finance organization with more than $10 billion in commitments. His career also includes leadership positions within commercial finance, equipment leasing, and credit organizations, including GE Capital. He holds a bachelor’s degree in economics and management from the University of Minnesota Morris. “GreenStone has earned a reputation for strong credit administration, portfolio management, financial results, and an unwavering commitment to its members,” Mike said. “In this new role, I look forward to building on that legacy by helping position the association for continued growth through helping our members achieve their goals.” “Mike has already made a significant impact on our association,” Jones said. “His leadership, experience and strategic perspective position GreenStone well for the future. We look forward to his continued success as he joins the executive leadership team and leads our credit department.” ◀
Connecting with the Wilderness Warriors GreenStone has connected with Wilderness Warriors! Their mission is to offer more women the opportunity and resources to explore the great outdoors, ranging from hiking, hunting, fishing, and more. Their initiative includes helping educate women to become confident through the adventures with Wilderness Warriors. The organization believes if women are excited to explore the outdoors, that’ll inspire her children to enjoy it too. The group hosts hunting and fishing events throughout Michigan and GreenStone is sponsoring their doe hunt for women, which provides women the proper techniques to hunt confidently on their own. The team at Wilderness Warriors takes the time to educate the women on hunting safety and how to handle their firearm before going out into the woods. If you are interested in being a part of this hunt, check out their website for additional information www.wildernesswarriors.net. ◀
Connect / Partners Magazine
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GreenStone Director Terri Hawbaker Named First Female Farmer of the Year by Women in Agribusiness GreenStone Board Director Terri Hawbaker has been named the first Women in Agribusiness (WIA) Demeter Award of Excellence Female Farmer of the Year, a national recognition honoring outstanding leadership, professional achievement, and contributions to agriculture.
▲ Pictured Above: Terri Hawbaker (center) following the WIA award ceremony. She is pictured with fellow honorees Magan Lewis (left), Senior Director of Global Talent, Innovation & Enterprise, Bayer Crop Science and Krysta Harden, CEO of U.S. Dairy Export Council.
Presented for the first time in 2026, the Female Farmer of the Year category was created to honor the International Year of the Woman Farmer. Terri was selected from a competitive field of nominees and recognized alongside Krysta Harden, president and CEO of the U.S. Dairy Export Council; Magan Lewis, senior director of Innovation & Enterprise Operations at Bayer Crop Science; and Emily Metz, president and CEO of the American Egg Board, at the 2026 WIA Summit held in September in New Orleans. The Demeter Award of Excellence is the highest honor presented by WIA. For 14 years, the award has recognized women with significant professional accomplishments, leadership experience, and who have demonstrated commitment to advancing opportunities for women in agriculture. “I am honored and humbled to be named the first ever Women in Agribusiness Demeter Award Female Farmer of the Year.
Thank you to Women in Agribusiness for this recognition and thank you to those who believed my story was worthy of consideration,” Terri said. “This award reflects the many people who have invested in me, worked alongside me, encouraged me, and challenged me throughout my journey. Most importantly, it reflects God’s faithfulness and blessings throughout every season of my life.” In announcing Terri as an honoree, WIA highlighted her success as owner of Grazeway Dairy Farms, her innovative approach to dairy production, and her extensive service to the agricultural industry through mentorship, education, and leadership. WIA recognized her involvement with numerous agricultural organizations, including serving as a GreenStone director, where she provides strategic direction on behalf of the organization’s more than 29,000 member-owners. ◀
Mark Your Calendar... November 11
GreenStone Offices Closed in Honor of Veterans Day
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GreenStone Offices Closed in Honor of Thanksgiving (26-27)
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Michigan Greenhouse Growers Expo (8-9) Devos Place, Grand Rapids, MI
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GreenStone Offices Closed in Honor of Christmas (24-25)
December
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Great Lakes Fruit, Vegetable and Farm Market Expo (8-10) Devos Place, Grand Rapids, MI
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Michigan Farm Bureau Annual Meeting (1-2) Devos Place, Grand Rapids, MI
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Wisconsin Farm Bureau Annual Meeting and Young Farmer and Agriculturist Conference
January 1
GreenStone Offices Closed in Honor of the New Year
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Dairy Strong Conference (13-14) Lambeau Field, Green Bay, WI
(4-7) Kalahari Resort - Wisconsin Dells, WI.
Partners Magazine / Connect
Six Steps to Reduce Your Fraud Risks Fraudsters are becoming increasingly sophisticated, but taking a few proactive steps can go a long way in protecting your financial information and your identity. Gain advice in the Tech Tip included in each issue of Partners, and follow these six steps to help reduce your risk of becoming a victim of fraud or identity theft. 1. Secure Your Accounts Your accounts are often the first target for criminals, making strong account security essential. • Turn on multi-factor authentication (MFA), starting with your email account, then your financial, payment, tax, and retirement accounts. • Use a unique password for every account. • Store passwords in a reputable password manager instead of reusing or writing them down. • Regularly review your email forwarding settings, inbox rules, recovery information, connected apps, and devices with account access. 2. Watch Your Money Monitoring your accounts frequently can help you spot fraud before it becomes a larger problem. • Enable alerts for account logins, profile changes, card transactions, transfers, checks, and new payees. • Review account activity regularly. • Use card-lock features and transaction controls when available through your financial institution.
3. Pause and Verify Scammers often rely on urgency and deception to pressure victims into acting quickly. • Do not trust caller ID alone or click unexpected links in emails or text messages. • Verify requests by calling a known phone number or using an organization’s official website or app. • Confirm any changes to payment instructions or recipient information using previously established contact information. • Use payment apps only with people you know and trust. 4. Protect Your Identity Identity thieves can use stolen personal information to open accounts, file fraudulent tax returns, or commit other crimes. • Freeze your credit with Equifax, Experian, and TransUnion to make it harder for criminals to open accounts in your name. • Review your credit reports regularly through AnnualCreditReport.com.
updates for computers, tablets, and smartphones. • Secure devices with a PIN, password, fingerprint, or facial recognition. • Retrieve mail promptly and mail checks from secure USPS locations whenever possible.
• Consider requesting an IRS Identity Protection PIN for additional tax security.
• Review cleared-check images for signs of alteration or fraud.
• Limit the amount of personal information you share publicly, especially on social media.
• Avoid conducting sensitive financial activities on public Wi-Fi networks. Instead, use your cellular connection or a trusted VPN.
5. Secure Your Devices, Mail, and Checks Fraud prevention extends beyond online accounts. • Turn on automatic software
6. Act Immediately if You Suspect Fraud Quick action can significantly reduce the impact of fraud.
• Contact your financial institution and local law enforcement using trusted phone numbers. • Lock affected cards or accounts. • Change compromised passwords, beginning with your email account. • Save and preserve emails, text messages, receipts, and other evidence. • Report identity theft at IdentityTheft.gov and online financial crimes at IC3.gov. By making these six steps part of your routine, you can strengthen your defenses against scammers and better protect your finances, identity, and peace of mind. ◀
Connect / Partners Magazine
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The GreenStone stor y
Customer Satisfaction Results Each year, GreenStone provides our members with an opportunity to voice their experiences and satisfaction with us, their cooperative, through our annual customer satisfaction survey. Based on this year’s survey results, we are proud to announce a 95% customer satisfaction score for the second consecutive year, and the 22nd consecutive year we have exceeded a 90% satisfaction score.
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Earning a 95% customer satisfaction score for the second consecutive year is especially meaningful given the economic challenges and rising costs our members have navigated over the past year. “Earning a 95% customer satisfaction score for the second consecutive year is especially meaningful given the economic challenges and rising costs our members have navigated over the past year,” said GreenStone President and CEO Travis Jones. “This recognition reflects the
trust our members place in us and our team’s unwavering commitment to providing personalized financial solutions, expert guidance, and dependable service when it matters most.” The customer satisfaction survey uses a seven-point scale ranging
from being “very dissatisfied” to “very satisfied”, as well as measuring customers’ perception of GreenStone’s performance over the past year. Breaking down that 95% more specifically, 71% of customers were “very satisfied” with the service they received from GreenStone. For the fourth year in a row, 98% of those surveyed responded they felt GreenStone is a financially sound lender with effective staff. Customers also expressed high satisfaction with the timeliness in which loan applications were reviewed, and that GreenStone is a lender that values their customers. Across GreenStone’s territory in Michigan and northeast Wisconsin, all 34 branches have received an average customer satisfaction score above 90% over the past three years, with 11 branches scoring a 97% or higher average over the past three years.
“ Thank you so much for selecting me for your scholarship. I am honored to receive your support as I take this next step. This fall, I will be attending Grand Valley where I will major in biology with a pre-veterinary emphasis, with the ultimate goal of becoming a veterinarian. With the long academic road ahead, your generous support helps set me up for long-term success. Thank you for investing in my future! ” – Mason Sparks, Class of 2026 “ Thank you so much for sponsoring the Michigan Cattlemen’s Point Series. I had so much fun this year.” – Camdyn NyKamp
“The consistency of these results across our entire territory speaks volumes about the dedication of our employees and the strength of our member relationships.” said Travis. Customers also noted their appreciation for the cooperative’s Patronage program giving back a significant portion of GreenStone’s profits to members as a dividend, which exceeded more than $1 billion in total dividends this year returned to member-owners over the past 21 years. As we look ahead, GreenStone remains committed to providing the financial resources, guidance, and support our members need to succeed in an evolving economic environment. Together, we are helping build stronger businesses, stronger families, and stronger rural communities for generations to come. ◀
“ Thank you for your generous sponsorship of the WAAE Professional Development Conference. Your support helps make this event possible and strengthens agricultural education across Wisconsin. We truly appreciate your partnership and investment in our educators.” – Shawna Henke “ Thank you for purchasing my 2026 4th Overall Market Hog at the Michigan Livestock Expo! Without your support these events wouldn’t be possible. As always, thank you for your continued support towards the next generation of agriculturists!” – Joscelyn Layman
Candid Comments... Connect / Partners Magazine
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Land Benchmark Results Point to Market Stabilization
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Partners Magazine / Connect
While demand for farmland, recreational properties, and smallacreage ownership remains strong, the slower rate of growth across most benchmarks suggests the land market is stabilizing...
Each year, GreenStone’s team of expert appraisers evaluates the same benchmark properties across Michigan and northeastern Wisconsin to track changes in land values over time. A variety of factors influence these values, including commodity prices, economic conditions, government policies, tourism activity, and weather patterns. GreenStone’s benchmarking system is designed to measure the combined impact of these factors and provide a consistent assessment of how land values have changed over the previous year. This year, land values pointed to an overall trend of stabilization in the market. Land values showed a steep increase following the pandemic. This year’s land benchmark results suggest a more moderate and sustainable pace of growth than the dramatic gains seen in the years following 2020. What Stands out About Land Values in 2026 Alongside the same fifteen plots of land that were evaluated in 2025, GreenStone appraised two additional recreational plots this year. The new recreational benchmarks are located in northeastern
Wisconsin and southern Michigan and are designed to capture recreational land market trends more effectively. Both agricultural and recreational land continued to appreciate the most across the benchmark regions, but growth slowed substantially compared to the sharp increases seen in prior years. While the run-up in values eased, there is no indication of a widespread decline in land values. Dairy and Cash Crop Land Values The strongest increase was seen in the cash crop land benchmarks found in the northern and Thumb regions of Michigan. Most of these benchmarks increased between 5% - 19%. Cash crop land in northern Michigan experienced the largest increase of all land benchmarks at 19.2%, compared to a 14.5% increase in value of cash crop land in southwest Michigan last year. The increase in cash crop land values in northern Michigan reflects the region’s typical market dynamics, where land value trends have historically followed those observed in southern Michigan. CAFO (concentrated animal feeding operation) sized dairy farms also grew in value but at a much slower rate than
in years past. Large dairies in Michigan increased by just 1.4% compared to a 7.4% increase in 2025, again suggesting stabilization in the market after a period of strong demand and increase in milk prices following the pandemic. Recreational and Transitional Land Values With the addition of the two new recreational benchmarks, the total number of recreational land benchmarks appraised now comes to three, with the existing benchmark located in northern Michigan. Recreational land in northern Michigan did experience a 6.7% increase in value, only a slight drop from a 7.1% increase in 2025. This trend suggests demand for recreational land remains strong, although competitive pressures appear to have moderated compared with previous years. Transitional land is defined as agricultural land expected to be developed into another use, such as residential. Both of GreenStone’s transitional benchmarks have increased by more than 10% and have increased in value by approximately 50% over the past five years. A strong residential housing market and growing interest in hobby farming and small acreage ownership can be attributed to the continued increase in value for transitional land. Land Values Across the Region Continue to Stabilize This year’s land value benchmark analysis points to a market that is continuing to grow, but at a more measured and sustainable pace in contrast with rapid increases seen in the years following the pandemic. While demand for farmland, recreational properties, and small-acreage ownership remains strong, the slower rate of growth across most benchmarks suggests the land market is stabilizing rather than accelerating, with no signs of widespread value declines across Michigan and northeast Wisconsin. Whether you’re looking to invest in recreational property or considering expanding your farming operations through the purchase of additional farmland, GreenStone’s team of lending experts are here to help you find a solution that’s tailored to you. ◀ Connect / Partners Magazine
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Behind the Scenes: Get to know a few members of our Tax & Accounting team!
Elizabeth Waldschmidt Tax & Accounting Manager 9 years of service
What is something most people do not know about GreenStone’s tax & accounting department? Many people think we only prepare tax returns, but we do much more than that. We also provide payroll and bookkeeping services for our customers. In the fall, much of our time is spent on tax planning, helping customers prepare for their tax obligations and making informed decisions before year-end and tax season arrives. What is your favorite part about your role? My favorite part of my role is getting to know each customer’s business and understanding their unique goals and challenges. I enjoy working closely with customers to see how our services can best support their success and help their business grow.
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How does your role support GreenStone’s mission of supporting agricultural and our rural communities? I support GreenStone’s mission by leading a team that helps agricultural producers and rural businesses navigate their tax and accounting needs. Through tax planning, accounting services, and financial guidance, we help customers make informed decisions that help them build long-term success. What is the most valuable lesson you’ve learned during your time working at GreenStone? One of the most valuable lessons I’ve learned during my time here at GreenStone is every farm and business is different. Just because a strategy works well for one operation, doesn’t mean it will be the right fit for another. Taking the time to understand each customer’s unique situation is essential to providing the best guidance and support.
Stephanie Luark Lead Tax & Accounting Assistant 19 years of service
What is something most people do not know about GreenStone’s tax & accounting department? Many people don’t realize that GreenStone has a dedicated team of tax and accounting professionals specializing not only in farm taxes, accounting, and payroll but also that we provide these services to a wide variety of businesses and individuals. What is your favorite part about your role? My favorite part of my role is helping customers stay organized and keep their financial information current throughout the year. Knowing that I can help make tax season less stressful and more manageable for them is incredibly rewarding. How does your role support GreenStone’s mission of supporting agricultural and our rural communities? My role supports GreenStone’s mission by assisting customers with their payroll, accounting, and taxes so they can focus on what they love and do best, farming! They can leave the rest to us! What is the most valuable lesson you’ve learned during your time working at GreenStone? One of the biggest lessons I’ve learned at GreenStone is that change is always happening. Whether it’s tax laws, technology, or processes, being open to learning and adapting has helped me grow both personally and professionally. Note: While serving in GreenStone’s Tax & Accounting Department at the time of this interview, Stephanie has since accepted a new role as Executive Assistant at GreenStone.
Megan LaPlant Tax Accountant 5 years of service
What is something most people do not know about GreenStone’s tax & accounting department? Many people are surprised to learn that we do much more than prepare tax returns. In addition to farm and non-farm tax services, our team provides tax planning, accounting, payroll, and recordkeeping support. What is your favorite part about your role? My favorite part of my role is the opportunity to collaborate with my colleagues and build meaningful relationships with customers. I enjoy getting to know their operations and understand their goals How does your role support GreenStone’s mission of supporting agricultural and our rural communities? Our role helps customers spend less time worrying about financial and administrative tasks and more time focusing on what matters most, whether that’s caring for livestock, managing crops, or growing their business.
Pause for Applause Staff Anniversaries From 5 to 40 years of service, help us congratulate and thank our staff who are celebrating a GreenStone career milestone! The years represent the dedication and service all employees provide our members. October Shelby Droscha Megan LaPlant Mathew Meals Francesca Knot Keri Sheldon
5 5 10 15 30
November Sandra Evans Nicole Ruthkowski Johnathan Tauer Natalie Walker Alyssa Benzick Danielle Hudson Kristin Nienhuis Kay Logan Pamela Jacobson
5 5 5 5 10 10 15 30 40
December Kimberly Delaney Erin Kenneke Hailey Kriel Andrea Winberg Sara Blanchard Neeli Warren Michael Niesyto Yvette Hukill
5 5 5 5 10 10 15 25
What is the most valuable lesson you’ve learned during your time working at GreenStone? The most valuable lesson I’ve learned is the importance of proactive communication. Addressing questions, concerns, and opportunities early helps build trust, strengthens relationships, and often prevents small issues from becoming larger challenges down the road. ◀
Connect / Partners Magazine
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Legistlative matters
The Proposed Farm Bill and Its Relationship to the Farm Credit System The Farm Bill remains one of the most significant pieces of legislation affecting American agriculture, rural communities, and agricultural finance. Although Congress has repeatedly extended the 2018 Farm Bill, lawmakers continue to work toward a comprehensive replacement commonly
referred to as “Farm Bill 2.0.” Recent House and Senate proposals demonstrate a strong emphasis on strengthening the agricultural safety net, modernizing federal credit programs, and expanding financing opportunities for rural America. These provisions have direct implications for
the Farm Credit System, the nationwide network of borrower-owned lending institutions that serve farmers, ranchers, agribusinesses, rural consumers, and rural infrastructure providers. The current legislative environment reflects both
economic pressure and political urgency. Producers continue to face high interest rates, elevated input costs, volatile commodity markets, and weather-related risks. While Congress has enacted some agricultural provisions through separate legislation and budget reconciliation measures, many stakeholders argue that important elements of a comprehensive Farm Bill remain unfinished. Farm Credit organizations have therefore advocated for passage of a new five-year Farm Bill that provides certainty and stability for agriculture and rural communities. A key component of the proposed Farm Bill is the modernization of agricultural credit programs. Several proposals would increase Farm Service Agency (FSA) direct and guaranteed loan limits to better reflect current farmland values and production costs. According to summaries circulated within the Farm Credit System, proposed legislation would significantly increase farm ownership and operating loan limits while expanding eligibility for beginning farmers and new agricultural enterprises. These changes are designed to improve access to capital, particularly for producers who may struggle to secure sufficient financing under existing loan caps.
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The Farm Credit System has a particularly important role in these reforms because many FSA guaranteed loans are originated and serviced by Farm Credit associations. Higher guarantee limits allow Farm Credit institutions to support larger and more complex agricultural operations while reducing risk exposure through federal guarantees. Internal Farm Credit discussions have emphasized that modernized FSA programs would help lenders provide additional credit to young, beginning, and small farmers who often have limited equity and collateral. Another significant feature of the proposed legislation involves direct updates to Farm Credit System authorities. Senate proposals described as Farm Credit System Modernization provisions would broaden the System’s ability to finance rural infrastructure projects, including waste management facilities, energy production projects, and other rural development initiatives. The legislation would also expand lending eligibility to support emerging sectors such as aquaculture and aquatic harvesting operations. These changes recognize that today’s rural economy extends beyond traditional crops and livestock production and requires access to capital across a broader range of industries. The proposed Farm Bill also seeks to strengthen risk management and financial discipline within the Farm Credit System. Legislative drafts include safeguards such as investment restrictions and borrower concentration limits intended to prevent excessive exposure to individual borrowers or sectors. At the same time, proposals would reform agricultural export financing by requiring cooperative banks to guarantee or insure a substantial portion
of certain large export loans. Supporters argue these measures balance expanded lending authorities with prudent risk management practices. Beyond credit issues, Farm Credit strongly supports broader Farm Bill provisions that strengthen crop insurance, conservation programs, rural infrastructure development, and the farm safety net. Farm Credit leaders have repeatedly emphasized that effective commodity programs, crop insurance, and disaster assistance help stabilize farm income, thereby improving borrowers’ ability to repay loans and maintain financial health. Sound agricultural policy reduces lending risk while ensuring producers have the resources necessary to remain viable during periods of economic stress. This is critical to maintain and sustain GreenStone’s cooperative mission. The legislative process remains uncertain. The House passed the Farm, Food, and National Security Act of 2026, including several Farm Credit priorities and expanded authorities. More recently, the Senate Committee on Agriculture, Nutrition and Forestry voted to advance the Agricultural Act of 2026 out of committee, an important step toward advancing a complete, five-year Farm Bill this year. The proposed Farm Bill represents far more than an agricultural spending package. It is a comprehensive policy framework that influences farm profitability, rural economic development, and access to credit. For the Farm Credit System, the legislation offers opportunities to expand lending authorities, modernize federal guarantee programs, and better serve a changing rural economy. ◀
PAC progress
Support When It Matters Most
When President Woodrow Wilson signed the Federal Farm Loan Act, he established the foundation of what would become the Farm Credit System. While much has changed since 1916, the importance of engagement has remained essential to advancing legislative and regulatory priorities that affect agriculture and rural America. PAC contributions in January were budgeted and then disbursed this summer to qualified candidates at the direction of your Board of Directors. Over $65,000 was delivered to candidates seeking elected offices who are committed to understanding the challenges and opportunities facing farmers, agribusinesses, and rural communities. Providing support early in the campaign season allowed candidates to use PAC contributions strategically and effectively as they communicate with voters and advance their campaigns. Together, member engagement and PAC efforts strengthen our collective voice and work to build a policy environment that supports a vibrant agricultural economy for generations to come. Thank you for helping build the voice of rural communities and agriculture! ◀ Connect / Partners Magazine
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Country Living customer feature
Financing Land with a Lifetime of Memories
For Jordan Browne, the outdoors has always been more than a place to enjoy. It’s a refuge, a place to slow down and unwind, spend time with family, and so much more.
His passion for the outdoors began at an early age. “My family moved out to the Ionia area when I was 10,” Jordan explained. “That’s when I first got started hunting and fishing.” Jordan grew up filming his own hunting adventures, but little did
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he know his passion for storytelling and the outdoors would turn into a career. He considered studying wildlife biology but ultimately ended up pursuing a degree in finance from Michigan State University. While in college, Jordan had the chance to enter a viewer video contest through Michigan Out of Doors (MOOD) TV, one of the largest outdoor hunting shows in the state. He won, and the rest was history!
A Career in the Outdoors
Soon after, Jordan was invited to work part time as a cameraman for the show while he finished his degree. After college, he joined the MOOD TV team full time as an associate producer telling the stories of outdoorsmen and women all throughout Michigan. “My favorite part about what I do is getting to meet so many different people from throughout the state, and how they uniquely enjoy time
outdoors,” said Jordan. “Telling that story, and how they share their passion will never get old to me.” It’s no secret Michigan has no shortage of natural resources and impressive landscapes to share. Despite seeing so many different parts of the state during his travels, Jordan decided to remain rooted in the area where he grew up. As a long-time sponsor of MOOD TV, Jordan was familiar with GreenStone both from working with the show and on a personal level as well. “My uncle had bought land with GreenStone before, so I knew they were one of the very few lenders who offered financing for vacant land,” he said. The Beginning of a Partnership
In 2019, when Jordan was looking to finance his own piece of land for hunting, he turned to GreenStone for support. “The first piece of land I purchased we were able to move very quickly on,” Jordan said. “That was my first time working with GreenStone for financing, and they made it easy. It was a seamless process, and that’s when I got to know Cameron too.” Cameron Bongard, VP of country living lending out of GreenStone’s Ionia branch, was eager to help Jordan pursue property of his own. “We were able to get the deal turned around in one day,” said Cameron. “I really enjoyed working with Jordan and was excited for him to have his own land to hunt on and enjoy.” Not too long after that however, an opportunity of a lifetime came up. Continuing a Legacy
When he was a teenager, Jordan had started hunting on a property owned by a local couple in the Ionia area. Their relationship started out as Jordan knocking on their door and asking to bow hunt on their property. Throughout the years, he got to know them very well and continued to help out around the property, especially after one of the owners passed away.
▲P ictured above: Jordan stands on his over 200-acre property he says he “never imagined owning as perfect as this one!”
Live / Partners Magazine
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After her husband passed away, Dawn, the previous owner, decided she was ready to sell the land, and the first person she called was Jordan. “I never imagined that I would be able to own a property as perfect as this one. If you had asked me what my dream piece of land was, I would have told you there’s not another piece of land in Michigan I’d rather own than this one!” said Jordan. “It was really special for me to be able to purchase this property and continue caring for it. It meant so much to the previous owners, and it means so much to me and my family now.” Dawn still regularly visits Jordan and the property as they remain
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neighbors. She enjoys riding her quad around and doing a little hunting of her own for mushrooms and asparagus! Jordan turned to GreenStone for financing once again, and in December of 2022, he and his family closed on the 220-acre property. However, a month before, he signed the purchase agreement on a very memorable day in November. “That day will always stand out to me,” he explained. “I had literally just signed the purchase agreement for the property and decided to walk back to one of the tree stands I had up. I started walking back, and there was the buck I had been chasing all year.
After a short stalk and well-placed arrow, I was able to put a tag around a beautiful Michigan buck literally an hour after signing the paperwork for the property.” From Dream Property to Forever Home
In early 2025, Jordan and his family completed construction on their forever home on the land, which they were able to finance through GreenStone as well. “When we were ready to build, we were able to work with GreenStone again on the construction of our home,” explained Jordan. “Working with Cameron is a great combination of professionalism and availability.
“I’m most excited that my kids get to grow up here...This is the same property I spent time on growing up, so it’s pretty special that I get to share that with them and watch them grow up here as well. There are always a lot of questions that come up when building a house and having the ability to call or text him whenever I had a question was so helpful.”
a creek, it offers a little bit of everything. My family and I are eternally grateful for the opportunity Dawn gave us to purchase this land. She really did change our lives.”
Another perk of working with GreenStone for Jordan is the Patronage program, where members receive a portion of the cooperative’s profits back each year in the form of a Patronage check. “To me, we’ve always treated it as a way to knock down the interest on our loan. We use the extra money each year to put back on our mortgage which is really nice.”
Some of Jordan’s favorite memories on the property so far include his wife shooting her first deer on the land even before purchasing it, and his then 88-year-old grandfather having the opportunity to take a buck on the land as well.
Their home isn’t the only addition Jordan has made to the property. Through the USDA Conservation Reserve Program (CRP), he was able to restore a large portion of the land back to wildlife habitat by planting native trees and grasses. Since restoring the property, a large population of songbirds, monarch butterflies, and other wildlife has returned to the land as well. “Walking around the property, I just have to pinch myself sometimes,” says Jordan. The landscape itself is unique, with everything from wooded acres, open fields, and
“I’m most excited that my kids get to grow up here,” said Jordan. “This is the same property I spent time on growing up, so it’s pretty special that I get to share that with them and watch them grow up here as well.”
Country Living – Knowledge and Resources GreenStone publishes regular updates on our Knowledge and Resources page. Check out some of the posts you may have missed at www.greenstonefcs.com/ resources/knowledge-resources Questions to Consider When Choosing a Home Sites Determining the right location for your future home begins with an honest discussion about what’s important to you, your family, and the lifestyle you lead. When is the Right Time to Buy a Home? It is impossible to time the market perfectly, but there are things to consider to make the most of your investment when you decide it’s time to take the leap. How to Buy Hunting Land
Whether it’s hunting, fishing in the creek, going on runs down the trail with his wife, teaching his kids how to hunt, or just spending time outdoors, there are no shortage of ways Jordan and his family can enjoy their property together.
Before purchasing hunting land, preparation, communication with your lender, and understanding your goals are all keys to success. ◀
“To me, owning recreational property gives my family the freedom to enjoy the land how we want to. Without financing from GreenStone, none of that would be possible.” ◀
Deer Donation Opportunities!
◀ Pictured left: Jordan, his wife Angela, and their three children stand in front of the home they were able to build on their dream property.
Are you looking for places to donate your deer this hunting season? Check out your local DNR website to find a deer donation place near you. If you are in Michigan, you can also check out Michigan Sportsmen Against Hunger to find local places to donate. These organizations help feed local communities in need.
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Keeping the Traditions Alive BY: JIMMY GRETZINGER, Michigan Out-of-Doors
I have the good fortune of traveling to many camps across Michigan. Bass camps, deer camps, turkey camps, sucker camps, walleye camps—you name it, someone has a camp for it. Why is that? What is it about getting away and focusing on the hunt for whatever species we are pursuing? Are these camps dying off? Do folks still head north for deer camp like they used to? The answer, as sad as it is, is yes— this tradition is slowly fading away. HOWEVER, those of us who are still here can and should do what we can to keep this tradition alive and well, one camp at a time. For me, heading to deer camp always meant our small two-room shack on the backroads of Cheboygan County, Michigan. A pump well, an outhouse, and memories that make me smile to this day. Once you get a fire going, the dampness and mothball scent slowly dissipate, replaced by the warm smoke of the small wood stove. Loud stories are told and retold. Cabins, tents, and campers all work for hosting camp—it is really about who is there. My personal 33
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favorite is grouse camp. As the members of our camp slowed down and stopped coming, we invented a new tradition: The Grouse Grand Masters! It was an attempt to create an easy, one-day grouse hunting event in early to mid-October. Getting the old guard to come out for three or four days of deer hunting was getting too hard. But a one-day grouse hunt from 9:00 AM to 5:00 PM seemed doable and almost gentlemanly. The Grouse Grand Masters still draws a crowd for the weekend. Sadly, some of our camp members have passed away just within the last year or so—Kent and Dickie T are no longer with us—and my father is unable to make the trip due to strokes he suffered years ago. However, we move on. We cherish the old memories and start creating new ones. I look forward to grouse camp and deer camp, and instead of choosing sadness, I am focusing on who is coming rather than who can’t make it. Life has seasons. I remember full buck poles and 8 to 12 guys lined
up for the firearm opener. The Grand Masters will draw maybe 8 to 10 guys this year, and some of the next generation are beginning to see how great a weekend at camp can be. So, here is my challenge to you: None of us want to see deer camps and fish camps fade away like the setting sun, so we must all do what we can. Create a one-day event, and if that includes some great food and a few libations, you are on the right path. Grouse camp may look a little different now, but that’s OK. We only have so many autumns left, and none should be squandered needlessly. Bring your kids, bring someone new, make sure to build new memories, and keep telling the old stories. And if you’re ever on Munger Road and see a broken-down, two-walled garage with a campfire going, stop in and say hello. To Kent, Dickie, Dad, Fred, George, Greg, Eddie, Ricky, Mo, Ray, and everyone else—thanks for the memories. See you at grouse camp. ◀
Harvest Road Safety: What Drivers and Farmers Need to Know This Season As harvest season arrives, rural roads fill with combines, grain carts, trucks, and tractors moving from field to field hauling harvested products. It’s a busy, rewarding time – but also one that calls for extra care. Whether you’re behind the wheel of a car or a piece of farm equipment, a few thoughtful habits can make the season safer for everyone. Sharing the road Farm machinery typically travels between 15-25 mph, meaning motorists approach far faster than they realize. A car will close the gap with a tractor in seconds – leaving little time to react. Rear-end collisions and leftturn crashes are among the most common incidents involving farm vehicles.
where equipment traffic increases. Fatigue and phone use contribute to rural road crashes – a quick break to rest or check messages can make all the difference. Tips for Farmers Ensure equipment is visible: Clean all reflectors, lights, and slow-moving vehicle (SMV) emblems before heading out. SMV emblems are required on equipment traveling 25 mph or less, and both the towing vehicle and any pulled implement should display them. If equipment travels faster, remove the emblem to prevent confusion. Check your lighting: White headlights, red
tail lamps, and amber flashing lights visible from both directions help motorists see you clearly. A white or amber lamp on the farthest left side of the vehicle or implement adds extra visibility. Plan your route: Before moving equipment, check for construction zones, narrow bridges, or low power lines. When possible, pull over to let traffic pass, and consider removing combine heads to reduce width on tight roads. Take breaks: Long harvest days can lead to fatigue. Resting for a short time throughout the day helps maintain focus and reaction time. Working together Harvest season is a hallmark of rural life – a time of hard work, community, and gratitude. Safety on the road depends on cooperation. Drivers who slow down, give space, and farmers who mark equipment clearly and plan routes carefully, create a safer environment for everyone. A little patience goes a long way. When we look out for one another, we protect not just our crops and equipment, but our neighbors and families too. Help make every mile count this fall – safely. ◀
When you spot flashing lights or a triangular slow-moving vehicle emblem, ease off the accelerator right away. Patience is key. Heavy equipment like a combine needs extra space and time to maneuver. Tips for Drivers Slow down early: As soon as you see farm equipment ahead, reduce speed. Closing distance too quickly can result in unexpected accidents. Keep your distance: Large machinery needs more room to stop or turn. Tailgating limits your ability to respond if the operator slows or signals a necessary turn. Pass with caution: Only pass on long, straight stretches with clear visibility. Never pass near hills, curves, intersections, or field driveways. A tractor drifting right may actually be preparing for a wide left turn, not inviting you to pass. Stay alert: Avoid distractions and watch for hidden field entrances or grain facilities
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The Wellness Case for Agritourism Fall has a way of inviting us all to slow down. The air turns crisp, fields shift from vibrant green to warm gold, and the familiar rhythm of harvest settles over the countryside. It’s a season that naturally nudges us outdoors — to breathe deeper, linger longer, and reconnect with the landscapes we so often overlook. For many, these simple moments in nature become more than season traditions; they offer a meaningful reset for mental well-being. As farms open their gates for fall activities, agritourism becomes a pathway to experience that restorative calm firsthand. One reason nature is so restorative is it gently pulls us away from the noise and pressure of everyday life. These experiences give our minds a chance to rest from constant screens, schedules, and responsibilities. Many people describe it as “clearing their head,” and research shows this kind of mental break helps improve focus, creativity, and emotional balance. Nature also has a calming effect on the body: heart rate steadies, breathing slows, and the body shifts into a more relaxed state. For children, this kind of environment can be especially powerful, helping them regulate emotions and build confidence through
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hands-on experiences like caring for animals or exploring fields. Agricultural settings offer something even more special. Unlike a typical park, a farm is full of life, purpose, and community. Visitors can take part in meaningful activities – picking apples, feeding goats, or learning how crops grow. These moments create a sense of accomplishment and connection that supports cognitive development, emotional regulation, and a sense of belonging. In short, nature heals because it reconnects us with something steady, simple, and real. Studies show even short moments outdoors can lift mood, lower stress hormones, and help the mind reset. More time spent outside can support better sleep, steadier emotions, and a stronger immune response. The peace we feel in nature isn’t just in our heads; it’s reflected in how our bodies and minds respond. Across Michigan and Wisconsin, farms welcome guests in ways that blend fun, learning, and meaningful connection. Apple U-picks, giant corn mazes, pumpkin patches, cider mills, and petting farms are all unique ways to spend fall weekends. U-pick orchards let visitors harvest their own fruit, petting farms invite families to meet
animals, and other fall favorites provide wagon rides, walking trails, and farm-fresh seasonal treats. For farmers, agritourism creates opportunities that go beyond business. Welcoming visitors builds community connections and helps people understand the work and care behind agriculture. This brings a deep sense of pride to farmers who share their land with their
community, encouraging future generations to stay connected to rural life. From simple walks through fields to hands-on activities that spark curiosity, these experiences support healthier minds and stronger communities. Agritourism continues to show how agriculture can not only nourish the land, but the people who come to enjoy it.◀
Across Michigan and Wisconsin, farms welcome guests in ways that blend fun, learning, and meaningful connection.
Commodity Cuisine Apple Crumble Bars Nothing says fall like the taste of Michigan apples alongside buttery oats, topped with cinnamon sugar! Recipe from Michigan Apple Committee
Recommended Apple Varieties: Empire, Gala, Golden Delicious, Ida Red, Jonagold, Jonathan, or McIntosh INGREDIENTS:
DIRECTIONS
• 1 cup all-purpose flour • 1/2 cup whole wheat flour • 1-1/2 cups of quick cooking rolled oats • 1 cup firmly packed brown sugar • 1/4 teaspoon baking soda • 1/2 teaspoon cinnamon • 1/2 cup margarine, melted • 2 tablespoons light corn syrup • 1 can (21 oz.) apple pie filling • 1/4 cup orange marmalade • 1/4 cup chopped maraschino cherries, drained • Vegetable cooking spray
1. In medium-size mixing bowl, combine flour, oats, sugar, soda and cinnamon. Stir in margarine and corn syrup, mixing until thoroughly combined. Remove 1 cup mixture and set aside for topping. Press remaining mixture into bottom of a 13 x 9 x 2-inch baking pan coated with cooking spray.
3. I n medium-size bowl, cut apple pie filling with pastry blender or knife until apples are diced. Stir in marmalade and cherries. Spread mixture evenly over hot crust. Sprinkle with reserved topping. 4. Bake 25 minutes longer or until top is golden brown. Cool completely before serving. ◀
2. Bake at 350°F about 12 minutes or until light golden brown. Remove from oven.
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Important: Appraisals
Crop Insurance news
Claims: Timely Notice of Loss Even with careful planning, the weather doesn’t always cooperate, and yields may fall below your guarantee. While this is never the desired outcome, it’s exactly why crop insurance exists. It is the insured’s responsibility to notify their crop insurance specialist within 72 hours of discovering damage or production loss. In all cases, notice must be provided no later than 15 days after the end of the insurance period, even if the crop has not yet been harvested. If you have an Revenue Protection (RP) policy and a claim is based solely on price declines,
the insurance company must be notified within 45 days of the crop harvest price announcement. The RMA strictly enforces these requirements and may deny late-filed claims or request repayment of indemnities if claims are not properly submitted. Insurance coverage begins at the time of application or planting, whichever is later. Coverage ends at the earliest of crop destruction, final harvest, crop abandonment, or the end of the insurance period—October 31 for wheat and December 10 for corn and soybeans. ◀
If you are going to harvest your planted crop for anything other than dry grain, a crop appraisal needs to be completed, otherwise you may lose out on a potential indemnity payment. The most common time an appraisal is needed is when you’re going to chop corn for silage that is insured as grain. ◀ Co-Mingled Production Please be aware that if any production from the previous crop year is stored on the farm, an adjuster must measure or mark the bin 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 • Applicable calendar date in the crop or special provisions • Abandonment • As otherwise specified in the crop provisions If the insured does not expect to complete harvest by the end of the insurance period, a notice of loss must be submitted. ◀ Get Indemnity Payments Faster If a crop insurance claim results in an indemnity payment, consider signing up for direct deposit. Instead of waiting for a check in the mail, funds can be deposited directly into your bank account as soon as your claim is finalized. Contact your crop insurance specialist to learn how to enroll. ◀
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New For 2027: Grapevine Policy RMA has made significant enhancements to the Grape Policy. Vinifera varieties are now insurable in certain grape growing regions in Michigan! This is an APH policy, which establishes guarantees from prior production history on your farm. Application deadline is November 20, with Production and Acreage reporting due by January 15. Contact your local GreenStone crop insurance specialist to learn more about whether this policy is the right fit for your operation. ◀
Crop Insurance Calendar October 15
Forage Underwriting Report Signature Due Date
25* Wheat Final Plant Date 31
End of Insurance Period for Fall Crops
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Final Claim Reporting Date for Dry Beans
November
Changes to Forage Production Policies RMA has made some changes to forage production policies in Michigan & Wisconsin for 2027. Starting this year, the APH plan will no longer be available; all forage production policies will now be under either a Yield Protection (YP) or Revenue Protection (RP) plan. If you have an existing forage production policy and don’t make any changes to your coverage, it will automatically be converted to a YP plan. Switching to a RP plan gives added coverage by introducing a revenue component, helping protect your farm in the event of a decline in price.
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End of Insurance Period for Apples
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Wheat Production Reports Due MI & WI
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Forage Production Reports Due MI & WI
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Wheat and Forage Acreage Reports Due WI
15
Final Claim Reporting Date for Sugar Beets
20
Fruit Sales Close Date and End of Insurance Period for Grapes
December 10
End of Insurance Period for Spring Crops
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Wheat & Forage Acreage Reports Due MI
January 15
Fruit Acreage/Production Reports and Pre-Acceptance Worksheets Due
* Please note that some dates can vary by county, especially in Wisconsin. Please check with your crop insurance specialist for specific dates if you are unsure.
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Crop Insurance customer feature
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Built to Weather the Storm As a first-generation farmer, Nate Wilson is familiar with taking risks to pursue your dreams. After falling in love with farming working in cherry orchards throughout middle school and high school, he knew a career in agriculture was for him. Following college, Nate began working in agricultural retail, doing crop production and chemical sales, before becoming a farm manager for a large farming operation in Leelanau County.
“Working ag retail taught me a lot, and it also inspired me to want to go out on my own one day,” Nate said. In 2016, after getting married, Nate and his wife took a risk and relocated back to her hometown in Kingsley, Mich. That’s when he met his matchanother Nate! Nate Zenner, who owns his own farm market and fruit stand in Kingsley was introduced to Nate Wilson through the large farm he worked for. Nate began buying fruit from Nate, and the rest was history! “From there, we just built an awesome friendship with each other, and shortly after had an opportunity to go into business together,” Nate explained. No Strangers to Risk
In 2022, when a local strawberry farm came up for sale, and Nates knew they had the opportunity of a lifetime. So, they took another risk. Through financing support with GreenStone, they were able to purchase Berry Flats Fruit Farm, LLC. The Nates immediately jumped into their first growing season with the farm, whose primary reputation at the time was strawberries. While neither of them had
experience growing strawberries, they focused on learning as they went. Strawberries are a highly perishable crop that require quick harvesting and marketing. “During our first season, we were packing flats of berries just to see what would sell and operating the farm stand ourselves just to see what would work,” Nate explained. Today, the strawberry operation has grown to fifteen acres and produces around 50,000 pounds of strawberries annually, with 2025 being a recordbreaking growing year for them. The berries are sold directly to consumers at their farm stand, with additional sales through other local farmers markets. Growing a Business One Harvest at a Time
Both Nates knew however, even before they purchased the strawberry farm in 2022, they wanted to expand into apples as well. In 2021, they had planted an orchard in Empire, Mich. in order to diversify their produce offerings and sell apples from two locations. “We started with seven different varieties, and started dabbling with others as we went along,” Nate said. “About 60% of what we have are Honeycrisps. We have around 10 different varieties now, including some processing apples like Idared as well.” The farm now includes over 100 acres of apples located in Empire, Mich., about 45 minutes from the original farmstand. “We think we’re going to harvest around 3 million pounds of apples this year,” he added.
◀ Pictured Left: Nate Wilson (pictured left) and Nate Zenner (pictured right) stand amongst the apple trees in their orchard located in Empire, Mich.
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When it comes to growing a business, there are always risks involved. But there’s even more risk involved when your product is exposed to weather, the elements, pests, and outside 24/7 in a non-controllable environment. When the Nates began heavily investing in their apple crop, they knew mitigating risk to their produce was nonnegotiable. Through specialty crop insurance coverage they structured with their GreenStone specialty crop insurance expert, they were able to protect their profits and have much more peace of mind when it came to the unexpected. And it paid off. Just last year, Nate recalled a late summer hailstorm that came through and destroyed their crop of half a million pounds of Honeycrisps. “I remember I came out to the orchard that morning and saw the hail piled up on the ground. Everything was destroyed. The apples couldn’t even be sold for processing,” he explained. “Without the coverage that we had, we would have been totally out for that entire crop.”
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Building the Right Relationships
The Nates have worked with GreenStone Crop Insurance Specialist Trevor Gernaat for years now. “Being in this business, it’s all about relationships I’ve learned. Trevor is one of those people who just genuinely wants to help and wants us to do what’s best for our farm.” For Trevor, watching the success the Nates have had with their business has been very rewarding. “Being able to watch them grow and make sure their farm and business is protected against the uncontrollable is what makes my job so rewarding,” Trevor said. “Trevor made sure we had the right protections in place and helped us get the maximum amount of coverage through federal funding that supports young farmers while they’re just starting out. If it wasn’t for him, we wouldn’t have known that,” said Nate. “He also does all of the coordinating with the adjustors for us and stays in contact regularly whether he’s just checking in or stopping by to visit the farm.”
Being in this business, it’s all about relationships I’ve learned. Trevor is one of those people who just genuinely wants to help and wants us to do what’s best for our farm.
Due to the higher level of input costs required to grow Honeycrisps, which make up a majority of their crop, and the tighter requirements that come with selling product directly to consumers, having a specialized policy that fits the needs of a specific crop is also important. An Investment Worth Making
As a young farmer business managing multiple locations, Nate sees crop insurance and strong financial partnerships as essential tools for continued expansion – and not something to take a risk on. “Between the freezes, extreme weather, hailstorms, and other unexpected events, we can’t risk not having coverage for our crops,” Nate explained. “I know it looks expensive on the front side of things, but to me not having it isn’t setting your farm up for success. When the time comes for a plan to be used, you’ll be glad you did it.” In the future, both Nates hope to continue to expand their farm into additional varieties of produce to continue serving the Michigan communities close to them. “Our goal is steady growth – and crop insurance will help get us there.” ◀
◀ Pictured left: Crop Insurance Specialist Trevor Gernaat (left) helps esnure the Nates have the right level of coverage for whatever a seasosn throws their way. ▶ Pictured right: As a first generation farmer, Nate Wilson is no stranger to the risks required to be successful in agriculture.
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Make Tax Planning Part of Your Farm Strategy: Managing Income, Capital Purchases, and Cash Flow Before Year-End BY: CHAD ZAGAR, VP & Managing Director of Tax and Accounting Services
Another calendar year is drawing to a close, and now is the time to begin evaluating your tax position before December 31. Whether 2026 was a profitable year, a challenging one, or somewhere in between, proactive tax planning can help reduce surprises and position your operation for longterm success. The first step in any tax plan is to ensure your financial records are current and accurate. Before making decisions regarding equipment purchases, prepaid expenses, deferred grain contracts, or other tax-planning strategies, it is important to understand where your operation stands financially. Tax planning should be based on projected income, cash flow, and business goals rather than simply repeating strategies that worked in prior years. One of the most important principles of tax planning is to avoid letting taxes drive business decisions. While reducing taxes is often desirable, the goal is not to eliminate taxable income at all costs. In many cases, maintaining relatively consistent taxable income over several years produces better long-term results than generating large deductions in one year and facing higher taxable income in future years. Federal tax law changes under the One Big Beautiful Bill Act (OBBBA) significantly expanded the ability of farm businesses to expense qualifying capital purchases. Current law provides for 100% bonus depreciation on qualifying property acquired after January 19, 2025, while Section 179 expensing limits remain at historically high levels. Together, these provisions may allow producers to accelerate deductions on qualifying investments such as machinery, equipment, grain handling systems, and breeding livestock. As always, capital purchases should be evaluated based on
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the needs of the operation, cash flow considerations, and longterm business goals, rather than tax savings alone. Producers should be aware that state tax treatment does not always match federal tax law. While the OBBBA federal legislation expanded depreciation opportunities, state income tax treatment may differ depending on where your operation is located – both Michigan and Wisconsin do not follow the 100% bonus depreciation. Understanding both the federal and state impact of major capital purchases is more important than ever when evaluating yearend planning opportunities. Several traditional tax-planning strategies continue to provide value for many producers: - Farm income averaging may help reduce federal income taxes by looking at the taxable results of your last three years. - Deferred grain contracts can provide flexibility when managing income between tax years. - Prepaying eligible farm inputs such as seed, fertilizer, chemicals, and feed may also help manage taxable income while securing products for the upcoming production season. - Producers operating through sole proprietorships, partnerships, LLCs, and S corporations should also evaluate how year-end planning decisions may impact eligibility for the Qualified Business Income (QBI) deduction, commonly referred to as the 20% pass-through business deduction. - Producers should also remember to include crop insurance proceeds, government program payments, and disaster assistance when evaluating year-end tax projections.
These payments can have a significant impact on taxable income and should not be overlooked when developing a tax strategy. - It is also important to tell your tax advisor about major purchases, financing arrangements, trade-ins, and other transactions that may not be obvious from bank activity alone. For example, equipment purchased through dealer or manufacturer financing may have tax implications even if little or no cash changed hands before year-end. Providing complete information helps ensure deductions, basis adjustments, and reporting requirements are handled correctly. - Retirement planning is another area that deserves attention. Contributions to retirement plans may provide meaningful deductions while helping farm families diversify assets outside of the farming operation and build long-term financial security. When it comes to filing deadlines, many farmers focus on March 1 as the farmer tax deadline. However, making an estimated tax payment by January 15 may provide additional flexibility and allow more time to gather the information needed to prepare an accurate return and extend your due date to April 15. Producers should discuss both options with their tax advisor before year-end. Another change producers should be aware of is the increase in the federal reporting threshold for many payments reported on Forms 1099-NEC and 1099-MISC. Beginning with 2026 payments, the federal threshold increased from $600 to $2,000. While fewer payments may require federal reporting, maintaining complete vendor records remains just as
Fall Tax Calendar October 15
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Individuals file a 2025 income tax return (Form 1040) if an automatic six-month extension was requested. Corporations file a 2025 calendar year income tax return (Form 1120) if an automatic six-month extension was requested.
November
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Non-farm employers file Form 941 for the third quarter to report wages paid, and social security, Medicare, and income tax withheld from wages, and report social security and Medicare taxes withheld from employees and the employer’s matching share of those taxes.
December 15
Corporations deposit the fourth installment of estimated tax for 2026.
important as ever. The State of Michigan has enacted the same reporting thresholds as the federal government; however, at this time the State of Wisconsin has not decided to raise the threshold – so for those in Wisconsin, you may still need to file these forms with a threshold of $600. The OBBBA tax law changes have also created new planning opportunities for certain farmland sales. Producers selling qualified farmland should discuss with their tax advisor whether special gain-deferral provisions may apply, as eligible sales may allow gains to be recognized over four annual installments rather than entirely in the year of sale. For farm families considering a transition or sale of farmland, this may provide additional flexibility and planning opportunities.
Year-end planning should extend beyond income taxes. This is an excellent opportunity to review business structure, ownership arrangements, beneficiary designations, and succession plans. The most effective plans coordinate income tax planning, estate planning, and long-term transition goals. The best tax-planning opportunities occur before December 31, not after it. Taking the time now to review your operation’s financial position and meet with your tax advisor can help improve cash flow, reduce surprises, and position your farm business for long-term success. Good tax planning is not about avoiding taxes. It is about making informed business decisions that strengthen your operation today while supporting your goals for the future. ◀
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Tech tip
Trust but Verify BY MATTHEW COSGROVE, VP and Chief Information Security Officer
Imagine a letter that appears to be from GreenStone. It includes your name, property address, lender, and loan information. It may say “FINAL NOTICE,” resemble a check, or demand an immediate call. Would you assume it came from GreenStone? That is exactly what scammers and aggressive marketers are counting on. $20.9 billion. That is how much victims reported losing through the FBI’s Internet Crime
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Complaint Center in 2025—a 26% increase from the previous year. Even more alarming, people aged 60 and older reported $7.7 billion in losses, a 59% increase from 2024 and more than any other age group (Jessica McMaster, 2026). Scammers exploit trust to prompt action. Public records, data breaches, social media, and data brokers can all provide details about you. Artificial intelligence can help criminals turn those details into convincing emails,
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letters, phone calls, and even cloned voices. The information creates credibility; impersonation creates the opportunity for fraud. Identification Is Not Verification Identification and verification are related, but they are not the same. Identification helps determine which person or account is involved, using information such as your name, address,
phone number, property information, or loan details. Verification confirms that the person making the request is actually you. Personal information can be found, purchased, or stolen. Property records reveal owners, addresses, lenders, and mortgage amounts; social media and breaches expose more. A criminal may know enough about you to identify your account without proving they are authorized to access it. Before discussing sensitive information or making changes, GreenStone will verify that we are speaking with you. This may include ending the call and calling you back at a trusted phone number already associated with your account. Accurate loan details do not prove a caller represents GreenStone or another financial institution. End the conversation and call your
branch using a number you know or one on GreenStone’s official website.
phone number, email address, website, or QR code printed on a questionable mailer.
Knowing the details may identify the account. A trusted process verifies the person.
You can reduce prescreened credit and insurance offers by visiting OptOutPrescreen.com or calling 1-888-567-8688. You can opt out for five years or begin the permanent opt-out process. This will not stop every promotional mailing, but it can reduce offers generated through the major creditreporting agencies.
When Loan Information Appears in Your Mail GreenStone customers may receive unsolicited mailers that mention GreenStone or include information about their property or loan. GreenStone does not sell your personal or financial information. Companies use public property records for targeted ads. Credit-reporting agencies also supply data for prescreened credit or insurance offers. A mailer may know who your lender is without it coming from GreenStone or having any relationship with us. Not every unsolicited mailer is a scam; some are legitimate advertisements. Others mimic official correspondence from GreenStone, a financial institution, or a government agency. Watch for mailers that: • Use phrases such as “FINAL NOTICE” or “IMMEDIATE ACTION REQUIRED” • Include an image that looks like a check but is not negotiable • Display GreenStone’s name while stating in the fine print that the sender is not affiliated with GreenStone • Ask you to call an unfamiliar number or scan a QR code • Request a fee or additional personal information • Offer mortgage relief, warranties, insurance, or other services you did not request Read the entire letter, including the fine print. If it appears to concern your GreenStone loan, contact your local branch directly. Do not use the
The risk is not limited to mailers and phone calls. When personal and property information is misused, identity theft can escalate into attempted property fraud. When Identity Theft Becomes Property Fraud Title piracy shows how far identity theft can go. Fraudsters use property owners’ information to create false identities, including fake IDs, email addresses, and phone numbers, before contacting real estate agents or title companies. The criminal then pretends to be the owner and attempts to sell the property, all without the owner’s knowledge or consent. Fraudulent deeds or other documents may also be used to make the transaction appear legitimate. Vacant, lien-free parcels can be attractive targets. A criminal may impersonate an out-ofstate owner, demand a quick sale, and transact remotely. The owner may not discover the fraud until the property is listed or proceeds transferred. Title fraud may occur without your clicking a link or answering a call: the criminal deals directly with real estate professionals. Protecting Your Property Property owners can take several steps to detect suspicious activity sooner:
• Check whether your county Register of Deeds or other recording office offers alerts for newly recorded documents.
start a new one yourself. Call a trusted number, visit the organization’s official website, or contact a representative you already know.
• Periodically review the public record for your property.
Never share a password, PIN, or multifactor authentication code with someone who contacts you. Giving away a code may let someone access your account.
• Investigate unexpected changes to ownership records or missing property tax and utility bills. • Check vacant or infrequently visited property regularly. • Ask a trusted neighbor to report real estate signs, visitors, construction, or other unusual activity. • Search for your property online and investigate any listing you did not authorize.
Verify unexpected payment changes using a known number, especially for wires, real estate, equipment, or vendor payments. Fraudulent transfers can be hard to recover. How GreenStone Helps Protect You
• Review your owner’s titleinsurance policy and ask your insurer or attorney whether it includes protection against forgery or fraudulent documents recorded after the policy was issued.
GreenStone uses layers of protection for customer accounts and communications. Verification may feel inconvenient, but it helps prevent impersonation using public or stolen information.
If you discover a suspicious deed, listing, or attempted sale, act quickly. Contact the county office that maintains the property record, local law enforcement, your attorney, your title insurer, and any financial institution involved. Internet-related property fraud can also be reported to the FBI at IC3.gov.
GreenStone will never ask you by email or phone to provide your full Social Security number, password, or multifactor authentication code. If you receive such a request, do not respond—even if it appears to come from GreenStone or another financial institution.
How Verification Interrupts a Scam Scammers create urgency because they do not want you to stop and think. Be cautious when someone unexpectedly asks you to send money, change payment instructions, provide sensitive information, sign property documents, or grant access to an account. Do not let the person who contacted you control verification. A “supervisor,” new email, or alternate number supplied by the same source is not independent verification. End the communication and
If you are unsure about a communication or believe fraud has occurred, contact your local GreenStone branch directly. Trust but Verify A letter may contain accurate loan information. A caller may know your personal details. An email may look identical to one you have received before. Those details do not verify identity or prove that a request should be trusted. If something does not feel right, pause before acting. End the communication, independently contact the person or organization through a trusted method, and verify the request. ◀
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