Partners Spring 22

Promoting the business success of our customers and the rural community

GreenStone FCS

CULTIVATEGROWTH SPOTLIGHT: MAX AND HALIE SCHULTZ

Feed, Seed, & Success

Spring 2022

CROP FEATURE: Precision Data Sharing + Market Outlook + Tech Tip

SPRING 22 5 YBSF

Feature. Max and Halie Schultz had a problem, and they had an idea of how to fix it. They had a lot of animals to feed, but it took a long time to go everywhere to get all the supplies they needed.

19

5

25

39

19 GreenStone Story.

With a 41-year dedicated career serving the Farm Credit System, Dave Armstrong, president and CEO of GreenStone, has announced his retirement for mid-2022.

25 Country Living Feature.

Chris Ockert firmly believes that good things come to those who wait, and he considers himself a great example.

37 Tax Feature.

Larry and Steve Rhoda are making full use of the tax and accounting services GreenStone offers, as it makes it easier for them to concentrate on what they really love – farming.

3 CEO Comments.

President and CEO Dave Armstrong touches on the road ahead and shares a final message as he prepares to retire from GreenStone.

31 Spice Up Your Garden.

Herb gardens are a great addition inside or outside your home. They are extremely versatile plants and easy to grow.

41

10 Farm Cash Management.

Integrating your operating loans with short-term investments through a GreenStone Farm Cash Management account gives you the dual benefit of easy access to operating funds while potentially minimizing net interest costs.

11 Market Outlook.

The Russian invasion of Ukraine delivered global markets a monumental shock of uncertainty and volatility in the first quarter of 2022.

S mishing and Vishing.

With the current geopolitical scene, many cybersecurity professionals are expecting phishing and ransomware events to increase this year.

8 Agriculture Blog Brief 9 YBSF Resources 14 Member News 15 Circle of Excellence 16 Calendar of Events 17 Behind the Scenes

21 Directors' Perspective.

Your directors share just a brief snippet of what stands out to them from their time working with Dave during his tenure as CEO.

18 Candid Comments

23 Legislative Matters.

32 Commodity Cuisine...

Honey Garlic Pork Chops

The time is now to start thinking, talking, and taking some action to know what is coming and engaging in dialogue on the ingredients of the Farm Bill.

24 PAC Progress.

Thank you for being a champion of our communities and the agricultural industry!

29 Guest Column.

To Jordan Browne with Michigan Out-of-Doors TV, there’s nothing more synonymous with spring than a turkey gobble at sunrise.

30 Spring Cleaning.

Spring cleaning is a routine in many households, but the most important tasks can easily get forgotten as our schedules get busy.

20 Pause for Applause

28 Country Living B log Brief

33 Crop Insurance News 35 Crop Insurance Calendar 36 Precision Data Sharing 40 Tax Calendar

Publisher’s Note: This spring issue of Partners always seems to hit me a little harder than others. April marks the end of Q1 – which for my team, you might compare to the end of the harvest season for farmers. We’ve ran hard for months to tackle some big goals and events; we’re exhausted from the job, yet invigorated by the accomplishments all at the same time.

Patronage Day welcomed thousands of customers in celebration; educational forums, tradeshows, and seminars allowed us to connect with thousands of current and future members; marketing campaigns opened the eyes of thousands who could benefit from GreenStone’s partnership; the annual report is in our 27,000 members’ hands to tell the successful story of the last year; we celebrated our champion teammates at the Circle of Excellence banquet…the list goes on. And this year, we announced the forthcoming retirement of our inspirational CEO – Dave Armstrong.

It might be that last one that has me taking an extra breath this spring. I’ve worked at GreenStone 15 years, only a smidge of the time Dave has blessed Farm Credit, but it really wouldn’t matter if I’d only been here 1 year, we all feel the same way.

We’ve grown because of the leadership of our coach: humble, inclusive, inspirational, down to earth, visionary, cheerleader, competitive, thoughtful, mentor…there are many more words to describe what makes Dave stand out among leaders, but I think you get the point!

Without his people-focused, mission-driven leadership, we might not have the expanded programs now available to support young, beginning and small farmers like Maxwell Schultz featured on page 5. Chris Ockert (page 25) may still be looking for financing options to bring his home to fruition.

The Rhodas (page 37) might not have found such a strong partnership with the branch team providing him the “one stop shop” for financing and for tax preparation and accounting.

This is definitely a team sport, but there’s a reason every team has a coach, and every employee and Greenstone member is better today because of this one. Dave helped us grow and flourish, and we wish him equal triumphs as he embraces the possibilities of his retirement years ahead.

Happy reading as we welcome the growth of the season!

– Melissa

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

Editorial Cassie Bowman Amber Echlin Melissa Rogers

Carla Wardin Amber Zabonick

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

Art & Design Hailey Andres William Eva

CEO Comments:

A Season of Challenges... and Changes What a year it’s been and it’s not even half over!! Where do I start my remarks in this issue? Market volatility because of lingering supply chain disruption? The highest inflation rate experienced in forty years, coupled with the FED announcing it planned to now get serious in “flattening” the inflation curve by raising rates as many as 6-7 times over the next year? The new Covid variant that is evolving, or the worst military conflict since World War II in Europe as Russia continues its devastating assault on Ukraine?

I have been in this business for nearly forty-one years and while the 1980’s had a terrible impact on our industry, I cannot remember a time when we have experienced so many significant threats (all at one time) to our way of life for over 70 years (the end of WWII). Yes, we have had wars and economic volatility, but nothing like we are currently going through. Yet, as a country, we are still blessed, especially as I watch the news reports about the horrors the Ukrainian people are suffering. Just as we think it can’t get any worse - it certainly could.

3

Spring 2022 — Partners

Of course, being prepared for challenging times starts well before the skies start to darken. Like you and your business, GreenStone continuously plans and prepares to be as ready as possible for any future events that could adversely impact its ability to carry out its mission. We continue to be in a solid financial position with strong risk bearing capacity to assist our members through the likely “bumpy” times ahead. Capital, our allowance for loan losses, strong credit quality, low delinquencies, efficient operations, and knowledgeable staff continue to provide a solid foundation to provide a dependable, competitive, and responsible source of credit and other financial services in good times and bad.

With all the negative news, it’s easy to get down and frustrated. Despite these storm clouds, we will get a crop planted this year even though acreage may need to be adjusted from what was planned due to input costs/availability and other logistical challenges. Weather, as always, will be a wild card, however, the broad use of risk management tools like crop insurance continue to provide peace of mind to many of our customers by helping insulate them from income volatility. The negatives described above are also creating bright spots, i.e., the highest commodity prices we have seen in years. Yes, input costs will be higher, but overall, here at GreenStone, we are optimistic for a profitable year for most of our members.

This year won’t be “easy,” but then again, are any of them? Every year begins with a new set of challenges with some bigger or smaller compared to what’s in our recent memory. I’m convinced our members’ resiliency, hard work, optimism, management capability, and love for what they do will once again shine the brightest when the storm clouds appear the darkest. Remember, you are the reason GreenStone is successful and our country remains the breadbasket to the world, so thank you for all you do!

Final Message As most of you probably know by now, this will be the last Partners message I will be writing. I have decided to retire after forty-one years of service with GreenStone and some of its predecessor associations.

I started my Farm Credit System career as an intern at the Production Credit Association of Southeast Michigan in 1979 and 1980. After graduation from Michigan State University in 1981, I became a Loan Officer at the Monroe, MI branch, where I met my wife, Debbie. In 1985, I moved north to take a Branch Manager job at the Imlay City, MI branch of the Production Credit Association of Sandusky. The financial “crisis” of the 1980s was reaching its peak at that time and resulted in the restructuring of the Farm Credit System, which included the consolidation of the Federal Land Bank and Production Credit Associations into “Agricultural Credit Associations” that could serve all the financing needs of eligible borrowers under one roof.

This consolidation continued with the formation of GreenStone in 2000. The remaining four associations covering Michigan’s lower peninsula merged at that time with Farm Credit Services of Northeast Wisconsin (whose territory included Michigan’s Upper peninsula and the northeastern portion of WI) joining GreenStone in 2003. Outstanding volume at that time was about $1.6 billion.

Since those early days, GreenStone has grown to just over $12 billion in assets, 600 employees, 27,000 customers, and 35 branch locations. It is the seventh largest association in the national Farm Credit System out of 65 remaining associations today. It is also home to one of the first Farm Credit System technology “centers of excellence” providing proprietary software and other information technology services to eight other Farm Credit organizations across the country.

“

Remember, you are the reason GreenStone is successful and our country remains the breadbasket to the world, so thank you for all you do!

Many things have changed since those days early in my career, like desk top calculators, paper files, and hand prepared loan applications, to computers, digital files stored “in the cloud”, and online loan applications. However, some things have not, and I hope never will. The most important of which is the strong relationship we have with you, our members. These relationships and personalized service are at the core of GreenStone’s success. Without these critical elements, GreenStone would be just another place to borrow money and customers are simply faceless, nameless numbers. In fact, the relationships that I have personally had with many of you since being a young loan officer in Monroe, MI and now include some of your children, grandchildren and even a few great grandchildren, plus all my coworkers over the years, will be what I miss the most!

I have been truly blessed to have had a career working with and serving some of the finest people on this planet and have the utmost confidence in the future of GreenStone and American agriculture. Despite the reputation “younger generations” have with those who have gone before them, I have found that they are every bit as passionate about what they do and better at it than many of my age.

GreenStone’s Board of Directors is undertaking a comprehensive search process to find my successor and hope to have a new CEO named by the end of May. This will provide adequate time for a seamless transition before I “ride into the sunset.”

Thank you for your business and loyalty to GreenStone, and most of all the kindness and friendship you have given me over my career. No one could ever ask for more.

Best wishes!

Dave Armstrong

517-318-4105 dave.armstrong@greenstonefcs.com

Partners — Spring 2022

4

FEED, SEED, & SUCCESS

GROW

CultivateGrowth Feature

BAY CITY, MI - Max and Halie Schultz had a problem, and they had an idea of how to fix it.

They had a lot of animals to feed, but it took a long time to go everywhere to get all the supplies they needed.

“There were no feed stores in our area near us, and I was spending one day a week picking up feed from different cities, trying to find what I wanted, and we thought – we might as well make this convenient for ourselves,” Halie said.

They owned an old antique shop on M-15, and they already had been selling deer feed to hunters out of it since 2015.

“It got really busy selling deer feed, and then people started asking for chicken feed and horse feed and all sorts of supplies, so it snowballed,” Max said.

“We decided to rebuild the entire place and turn it into a store.”

Along with the help of friends and family, they took on redoing the entire place themselves. They gutted it, put steel on the outside and inside, poured concrete, and revamped the entire building. H & M Feed, Seed, and Supplies was ready to open.

Unfortunately, they were ready to open in February 2020, right when the pandemic hit. But after a brief interruption, they opened the doors on October 30, 2020.

“Now Halie runs the store, and I take care of the farming,” Max said.

Life plan

Max grew up on a cash crop farm, and now the Schultzes raise their own crops and livestock. They grow corn,

soybeans, hay, wheat, and sugar beets.

They market their own feed through the store, and they’re also a Kalmbach and Tribute dealer.

They also have been increasing their livestock. They began with cattle, and now they also raise 35 head of pork a year, and 200 meat birds.

“We raised 40 for freezer beef last year, and we hope to do 60 or 70 next year,” Max said. “We’re also going to try and get USDA certified so we can sell in quantities smaller than halves or wholes.”

Selling beef direct to consumer through their store has been a great market for them.

“It keeps growing and growing every day, and with the price of beef blowing up, it’s been overwhelming,” Halie said.

“Lots of butcher dates to find!”

The Schultzes didn’t stop with the crops and livestock. Since things were so busy, Max left his day job in August 2021 to work on their business. They continue to add more choices for customers.

They maintain a greenhouse for flowers, so they can produce their own items to sell. They have a specialty chick day, where they take orders on chicks and run specials on their seed. They sell Amish buildings, chicken coops, gardening supplies, and items like soil, mulch, corn stalks, Indian corn, and much more.

View a highlight reel video at: www.greenstonefcs.com/YBSFSpring22

Partners — Spring 2022

6

“

What I realized is that you have to be six months ahead of everyone else, because you need to order supplies.

It might be spring, but you’re focusing on fall.”

7

Spring 2022 — Partners

“It’s a lot of inventory to keep in order,” Halie said. “I’ve worked in customer service, but I’ve never owned a business.

What I realized is that you have to be six months ahead of everyone else, because you need to order supplies. It might be spring, but you’re focusing on fall.”

Relationships

Johnny Thompson, financial services officer in GreenStone’s Bay City branch, admires the Schultzes’ entrepreneurial spirit and attention to diversification.

“We have a really good relationship,” Johnny said. “First of all, we both have beef cattle, and if you get two guys talking about beef cattle they usually don’t stop – myself included. But really, I like the way they have diversified and market their crops. Not only did they open up the storefront, but they worked with a lot of other gas stations, meat markets, and local businesses to sell their products. This way, they’re not as subject to the market value for commodity prices. It’s really made them successful.”

Johnny also thinks they have done a great job growing their business.

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

Commodity Update: Greenhouse industry cautiously optimistic For 2022, many greenhouse owners have coined the term "cautiously optimistic" according to Emelee Rajzer, senior financial services officer for GreenStone.

“Max has worked his way up and made his own way,” Johnny said. “He lives in a place where dirt is expensive, and it’s impressive the way he’s been able to do what he does in that area without the head start of already owning land. Because of the difference in the way he markets his products, he’s been able to vertically integrate in an effective way.”

The Schultzes have had a good experience working with GreenStone, and Johnny in particular.

“Johnny’s great,” Max said. “He answers every phone call, and he wastes no time in getting everything done. He’s awesome.”

Overall, the Schultzes enjoy the farming part of their job, plus the challenge of owning an agricultural business.

“We’re young, and we’re customer-based people, and pretty much everything is grown and raised locally,” Max said. “We have lots of support from friends and family, and we’ve had the same customers for the last five years.

Plus, it builds every day.” ■

CultivateGrowth: A Refreshed Approach for Young, Beginning, and Small farmers GreenStone Farm Credit Services has expanded their support for young, small, and beginning farmers – a refreshed program named CultivateGrowth.

Dollars & Sense: Starting the year off right!

As we look at the busy year ahead, it might be time to consider utilizing accounting reports to help guide your farming operation. Up to date records allow you to: manage your business operation effectively, manage your tax liabilities effectively (and with less stress), and make family living budget decisions more easily. ■

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

Partners — Spring 2022

8

YBSF RESOURCES: CULTIVATEGROWTH GRANTS: FUNDS TO NETWORK AND GROW GreenStone’s CultivateGrowth Grant arrived unexpectedly to Nick and Annie Rodgers, similarly to their Highland cattle opportunity.

Annie received the grant advertisement in the mail and immediately put it on her desk to apply. Nick and Annie are members of the American Highland Cattle Association and the 2021 Network Gathering just happened to be in Michigan. This was the perfect opportunity for them to learn more about Highlands and network with fellow farmers. Annie and Nick applied for the grant, and they received funding toward the network gathering fees.

Annie and Nick hope to continue growing their farm and encourage other beginning farmers to take advantage of the CultivateGrowth Grant.

GreenStone looks forward to supporting many more young, beginning, and small farmers like Nick and Annie in their mission to continue growing and learning.

Our CultivateGrowth Grant provides up to $40,000 to help offset the cost of these programs and services for young, beginning and small farmers. GreenStone customers are eligible for up to $1,000.

Non-customers are eligible for up to $500.

Visit greenstonefcs.com/grants to learn more and apply for a grant today!

Read the full article at: greenstonefcs.com/openfieldsblog ■

CULTIVATEGROWTH MENTORSHIP: LIFE ADVICE, BUSINESS ADVICE – IT COVERS IT ALL Throughout life we all learn valuable lessons from our successes and mistakes, and the best way to help others is to share those lessons we have learned.

The mentorship program at GreenStone establishes a way for industry leaders to share their lifetime of these lessons and knowledge with young, beginning, and small farmers. The current 2020-2022 mentorship class is wrapping up, but the relationship built during the 18-month program will last a lifetime.

Nick Pasch joined the program as a mentee in hopes of gaining a new perspective on his dairy operation from his mentor. Nick was raised in the dairy industry, but still felt like there was more he could learn to better his farm.

He was paired with mentor Jack Jeppesen, a dairy farmer with decades of experience. Jack and his wife believe giving back to the community is very important, and he was humbled to be asked to serve as a mentor for the program.

The next class of mentees and mentors will kick off this fall. Applicants are now being accepted – don’t wait to benefit from this partnership!

Visit greenstonefcs.com/mentorship to learn more!

Read the full article at: greenstonefcs.com/openfieldsblog ■

9

Spring 2022 — Partners

S

Make Your Money Work for You with a Farm Cash Management Account Integrating your operating loans with short-term investments through a GreenStone Farm Cash Management account gives you the dual benefit of easy access to operating funds while potentially minimizing net interest costs.

How does it work?

What are my limits?

When you have available cash, your operating loan is paid first. Any excess funds are then invested in an account of investment bonds. You’re then paid a return, similar to a money market account.

Farm Cash Management has no limits on the number of drafts that can be written or the number of electronic funds transfers that can be made. In addition, there are no monthly or per check fees.

Why a bond?

Interest earned on your investment bonds is exempt from state and local income tax, so the tax-adjusted annual yield is even higher.

Bonds pay interest at rates that are higher than typical commercial bank accounts like checking, savings, and certificates of deposit.

What about taxes?

It’s a simple process. Using Farm Cash Management is as straightforward as making a payment on your loan or When you need cash for operating writing a draft on your operating loan. expenses, you can use the investment account funds first - before your operating Saving money is always a good idea … saving money and earning more with it is loan – to help minimize your operating an even better idea. loan interest cost.

What is the benefit?

Plus, you don’t have to worry about access. If you need your Farm Cash Management money, you can get it at any time, with no penalty. If you access more money than your balance, Farm Cash Management will automatically use your credit line.

How do I get it?

Funds are immediately available by writing a draft on your revolving line of credit. You can transfer funds online or over the phone, and the investment funds are liquid.

“As the world has changed as a result of Covid, many customers have migrated to the GreenStone online banking and mobile app,” said Jeff Sommerfield, VP and Agribusiness Lending Group Manager. “Both of these, combined with Farm Cash Management has allowed customers to make payments and have access to their funds 24/7, which saves them time and money.”

Contact your GreenStone representative for more information. ■

When your Farm Cash Management account is activated and funded, money drawn will be pulled from the investment account before advancing withdrawals from your GreenStone operating loan. The benefit is that the Farm Cash Management program combines the availability of a revolving line of credit with the high return of a short-term investment account.

As a result, you can save money by putting your funds into an account where they generate the best return. Farm Cash Management helps you make the most of the money you have now to help out with future expenses.

Partners — Spring 2022

10

11

Spring 2022 — Partners

Spring Market Outlook:

Shifting Gears

By Matthew Naeyaert, GreenStone Capital Markets Senior Credit Analyst

The Russian invasion of Ukraine delivered global markets a monumental shock of uncertainty and volatility in the first quarter of 2022.

Following its military action, Russia has been the target of coordinated sanctions from countries around the world including the United States (US), the European Union (EU), the United Kingdom (UK), Canada, Switzerland, Japan, Australia, and Taiwan.

The Russia-Ukraine conflict’s impact to global economies is widely expected to be that of slower economic growth and higher inflation, while the ultimate magnitude of the shock remains highly uncertain and dependent on the path of conflict.

The combination of Russia’s status as a top oil and natural gas producer, the Russia/ Ukraine region’s standing as a major exporter of agricultural commodities, and retaliatory international sanctions have resulted in considerable pressure on global commodity markets. Following the late-February invasion, oil prices surged to over $130 per barrel in early March after beginning the year at roughly $80 per barrel. This initial price increase was the result of a negative supply shock provided by the sanctions from the US, the UK, and the EU which were focused on reducing the imports of Russian oil and liquified natural

gas. Russia accounts for over 10% of global oil and natural gas production, so the sharp contraction of its exports from global markets has a significant impact on the overall market’s supply and demand dynamics.

Global agricultural markets have not been spared from the volatility as grain prices have experienced significant increases since Russia invaded Ukraine. Wheat markets have experienced the greatest run-up as Russia is the world’s largest wheat exporter and Ukraine is the fifth largest, with the two countries combining to account for over 26% of global wheat exports. Heavy sanctions on Russia from western economies and the indefinite closure of Ukraine’s ports have combined to create a substantially negative supply shock, pushing wheat futures prices up over $12.00/bushel in early March (up 50%+). The supply side of the wheat market has limited ability to respond to the current price dynamic due to the timing of the growing season. The 2022 U.S. winter wheat crop was already planted last fall; therefore the north hemisphere’s ability to fill the supply hole cannot be realized until the 2023 crop is planted this upcoming fall.

The ongoing supply disruptions from the Russia-Ukraine conflict have also impacted global corn and soybean markets. Corn prices have endured significant increases, rising in the first week of March to over $7.60/bushel (~16% increase). Ukraine is the fourth-largest corn exporter and represents 15% of global exports. Soybean markets reacted similarly, although the price increases from February to March were more subdued with a roughly 9% jump to just under $17.00/bushel. The conflict’s impact to global soybean markets was less significant, comparatively, due Russia and Ukraine representing just 2.1% of world soybean exports. Future price movements in grain markets will be highly dependent on the path of the conflict and the supply response from large export countries, such as Brazil, the US, and Argentina. Market participants will be closely monitoring the future flow of agricultural goods from the Russia-Ukraine region as well as the planting intentions and crop conditions across the northern hemisphere over the upcoming crop year, in an attempt to quantify the supply side of the equation.

“

The ongoing supply disruptions from the RussiaUkraine conflict have also impacted global corn and soybean markets.

In addition to the supply shock felt by global grain markets, the war in Ukraine and resulting economic sanctions on Russia are providing added volatility to an already stressed global fertilizer market. Prior to Russia’s invasion of Ukraine, fertilizer prices were already at elevated levels due to supply chain bottlenecks and high input costs. Russia is the second Partners — Spring 2022

12

uncertain, US and global producers should brace for higher fertilizer costs in 2022.

Shifting to general economic conditions, the US economy ended 2021 on a strong note with gross domestic product (GDP) growing at an impressive 7.0% annualized rate in the fourth quarter, according to the US Bureau of Economic Analysis. The rise in GDP was due to increases in private inventory investment, exports, personal consumption expenditures, and nonresidential fixed investment.

GDP growth accelerated in the fourth quarter as the data came in well ahead of the 2.3% annualized growth achieved in the third quarter. In total, for the full calendar year of 2021, the US economy realized a 5.7% increase in annualized GDP, representing the highest annual growth rate since 1984.

“

Russia is the second largest potash producer, top exporter of nitrogen, and third-largest phosphate exporter, therefore any disruption to its ability to produce and ship these products results in higher fertilizer prices for agricultural producers around the globe.

largest potash producer, top exporter of nitrogen, and third-largest phosphate exporter, therefore any disruption to its ability to produce and ship these products results in higher fertilizer prices for agricultural producers around the globe. In early March, Russia’s Ministry of Industry and Trade recommended suspending the export of fertilizers until normal transportation services in and out of Russia are resumed. Subsequently, the Bloomberg Green Markets North American Fertilizer Price index rose 10% on March 4th, the day of the Russian Ministry’s statement. While a firm ban on exports is not currently in place and the final impact to fertilizer markets is still 13

Spring 2022 — Partners

Despite the strong finish to 2021, the US economy entered 2022 with a notable level of uncertainty due to a variety of factors including the impact of the Omicron COVID-19 variant, less fiscal support provided by the Federal Government as COVID-era programs fade away, and the expectation of a less accommodative monetary policy by the Federal Reserve. Additionally, the recent geopolitical crisis stemming from Russia’s invasion of Ukraine has provided yet another headwind to global economic growth. Due to the significant level of uncertainty provided by all of these factors, forecasting the path of the US economy is incredibly difficulty; however, the one consensus view from economists across the country is that 2022 GDP growth will lag that which was achieved in 2021.

Inflation continues to be a hot topic in the US economy as the US Bureau of Labor Statistics (BLS) reported the Consumer Price Index (CPI) increased in February by 0.8% for the month and over the last 12 months, the index had increased by a total of 7.9%. Rises in the prices for gasoline, shelter, and food were the largest contributors to the CPI increase in the February report. The CPI’s 12-month increase has been steadily rising and is now at the largest level since January 1982, when the US was in a recession and trying to control doubledigit inflation.

The Federal Reserve has signaled it will attempt to tackle the soaring level of inflation, beginning at its March 2022 meeting. The Fed will open its playbook with an interest rate hike of 0.25% and is anticipated to continue with rate increases at future meetings in the coming year. The bond market currently has priced-in the equivalent of seven 0.25% rate increase for 2022, but the Fed has stated it will proceed cautiously with future hikes as it closely monitors inflation, strong demand, a tight labor market, and geopolitical risks from the Russia-Ukraine conflict. In addition to interest rate increases, the Fed will conclude its bond buying program with a final round of $16.5 billion in mortgage-backed securities purchases in March.

Beyond the conclusion of purchases, it is expected to Fed will finalize a plan to begin reducing the size of its $9 trillion asset portfolio, which consists of Treasury bills and mortgaged-back-securities.

The combination of higher interest rates and the reduction of the Fed’s balance sheet will result in a significantly less accommodative monetary policy for the US economy in 2022. In the end, the Federal Reserve will be attempting the incredibly difficult task of slowing the pace of inflation without tipping the US economy into a recession. ■

CONNECT

NEWS: Let your voice be heard!

One of the many benefits of belonging to a cooperative like GreenStone is the opportunity to have an influence on the leadership of the association.

As part of that, GreenStone members will soon have the opportunity to participate in selecting which members will serve on the association’s board of directors and nominating committee through the annual governance elections.

On a four-year term basis, board seats in specified voting regions are voted on by those regions. This year, regions 4 and 5 will be electing two directors from each region to the Board of Directors.

In addition, nominating committee members will be elected for all seven voting regions. Because this is an annual election, and regardless of where members reside, each year all members vote for the nominating committee representatives in all seven regions.

Nominating committee biographies are not provided in coordination with Farm Credit’s election regulations, however, we do provide the county that they are headquartered in and their major ag product, as diverse representation of our cooperative is important and desired.

to meet the candidates. If you are interested in being considered for a director or nominating committee position, please visit www.greenstonefcs.com/governance and complete a profile form to express your interest. ■

All ballots must be received by midnight on June 14, 2022.

For more information about the election and the cooperative’s governance, go to our website www.greenstonefcs.com/elections

To simplify the voting process, members will have the option of submitting the ballot online or by postal mail. Starting May 9, each member will receive their ballot in the mail; ballots will also be sent by email to those members who have provided their email address. Members can choose the voting method most convenient for them.

Voting instructions will be printed on each ballot for online or mail in voting. Nominees have been selected for all positions. Director candidate biographies will be included with the ballots for voting members in Regions 4 and 5. Director biographies can also be viewed when voting online or by visiting GreenStone’s website.

Partners — Spring 2022

14

CIRCLE OF EXCELLENCE RESULTS GreenStone employees take pride in providing members with guidance and the best service possible.

Each year the sales staff who were among the top performers within the cooperative, along with the critical support team who work with them, are recognized in the Circle of Excellence Rewards and Recognition Program. This is just one way GreenStone acknowledges these dedicated individuals and their hard working support teams. Various criteria such as loan and revenue growth and new business are taken into consideration when ranking the achievements of sales staff.

The following outlines the top GreenStone staff and teams recognized as the 2021 Circle of Excellence award winners: Platinum Award Winners

Gold Award Winners

Agricultural Financial Services Officers:

Agricultural Financial Services Officers:

Melissa Humphrey, West Region

Cameron Rowe, Escanaba

Nichole Olson, Coleman

Nathan Buning, Cadillac

Matt Alt, Grand Rapids

Kristen King, West Region

Jennifer Whitford, Alma

Kim Knoerr, Bay City

Robert Netrefa, NEWI Region

Travis Bratschi, Traverse City

Shaun Gainforth, Caro

Matthew Willbrandt, Schoolcraft

Mark Oberlin, Lakeview

Derek Tahaney, Allegan

Kelly Aiken, Charlotte

Country Living Financial Services Officers:

Country Living Financial Services Officers:

Devon Feldpausch, Hart

Brent Voss, Traverse City

Joel Norkus, Grand Rapids

Karen Zoppetti, Mount Pleasant

Miranda Kelle, Lapeer

Samuel Schafer, Ann Arbor

Commercial Lending: Brandon Leep, Non-Dairy Sales Leadership: Ann Allen, North Region

15

Sales Leadership:

Spring 2022 — Partners

Commercial Lending: Nichole Wilcox, Non-Dairy

Crop Insurance Specialists:

Tax and Accounting MVP Award: Stephanie Luark, East Lansing Referral Champion Elizabeth Waldschmidt, Berrien Springs Achievement Award Steve Stoutenburg, Howell ■

FOUR CORE VALUES BENEFIT CUSTOMERS AND EMPLOYEES - GREENSTONE FARM CREDIT SERVICES WINS TOP WORKPLACES AWARD USA GreenStone has won the 2022 Top Workplaces Award USA. This award celebrates nationally-recognized companies that prioritize a peoplecentered culture and giving employees a voice. The Top Workplaces USA award is based entirely on feedback from employee engagement surveys.

Top Workplaces USA program is implemented with Energage, as they have been evaluating over 70,000

organizations and 23 million employee surveys since 2006. Energage identifies Top Workplaces across the country.

“We’re so honored to win the 2022 Top Workplaces Award,” said Beth Barker, executive vice president & chief human resources officer. “We are always focused on creating a positive

culture and fulfilling work environment at GreenStone, and I’m thrilled that’s reflected in our survey results.”

In addition to this national award, GreenStone was also awarded with a regional Top Workplace Award in 2021 by the Detroit Free Press. This was the first time GreenStone applied for and received both awards.

IT’S NOT LUCK… IT’S PARTNERSHIP! The Patronage Day celebration was so much fun!

Thank you to the thousands of members who stopped by the branch to join in the festivities. With an array of festive décor and tasty treats, it sure felt lucky to be a part of the GreenStone benefits on March 17 when we handed out $115 million in checks back to members. #partnershippays on #lucky17 ■

“We are a member-owned organization, and we care deeply about our members,” said Dave Armstrong, GreenStone president and CEO. “People work at GreenStone not only because of the culture, but also because we’re focused on our core four values: customer first, deliver quality, get involved, and do the right thing. Our goal is to continue meeting customer and employee expectations for excellence.”

GreenStone celebrates 106 years of service in 2022, as the Farm Credit System was established in 1916.

GreenStone employs approximately 600 people in locations around Michigan and northeast Wisconsin. ■

Mark Your Calendar...

APRIL

25

JUNE GreenStone Annual Meeting Corporate Office, East Lansing, MI

MAY

9

GreenStone Election Ballots Mailed to members

16

Small Town & Rural Development (May 16-18) Crystal Mountain, Thompsonville, MI

30

GreenStone Offices Closed for Memorial Day

JULY

14

GreenStone Election Ballot Deadline Voting polls close

15

Wisconsin State FFA Convention Alliant Energy Center Madison, Wisconsin

22

Michigan 4-H Exploration Days (22-24) MSU, East Lansing, MI

4

GreenStone Offices Closed for Independence Day

12

Wisconsin Farm Tech Days (12-14) Loyal, WI

12

Michigan Livestock Expo (12-17 & 20) MSU, East Lansing, MI

Partners — Spring 2022

16

BEHIND THE SCENES In this behind the scenes, two GreenStone employees from our human resources department share their work and passion to serve GreenStone customers and their fellow staff members.

17

Spring 2022 — Partners

Rachel Wood 5 Years of services Senior Human Resources Business Partner Kortni Lefevre 11 Years of services VP of Human Resources What advancements has GreenStone’s human resources department made to better serve customers internally and externally?

GreenStone’s human resources philosophy is to establish a culture that supports and fosters excellent employee relations. As such, we actively seek enhancements to our programs designed to attract, develop, reward, engage and retain a highly professional, competent, and diverse workforce. Recent advancements include transitioning from a classic performance review to a dynamic continuous performance process, embracing technology and remote work capabilities for our employee population, and launching a new student loan benefit program.

What led GreenStone to be named one of 2022 Top Workplaces in the USA? The overwhelmingly positive engagement of our employees is what led to GreenStone being named a 2022 Top Workplace. Human resources actively fosters an excellent work environment through our various programs and initiatives.

In addition to the vast programs administered by our human resources team to foster a winning culture, GreenStone has an employee engagement workgroup where employees serve a two-year term to review employee feedback and drive employee-led initiatives. Living our Core Four values of Customer First, Deliver Quality, Get Involved, and Do the Right Thing; and listening and reacting to employee feedback are some of the number one drivers of the engaged culture at GreenStone.

What do you enjoy about your role?

Rachel: I enjoy the ability to impact employee’s work experience. People spend too much time at work to not enjoy the experience. Our executive team has a very genuine desire to provide a great workplace for employee and it’s obvious by the support our HR team receives.

Kortni: I really enjoy having the opportunity to work closely with employees all over the organization and learning more about them on not only a professional level, but also a personal level. I like hearing feedback about their experience coming into GreenStone and always welcome suggestions on areas we might be able to improve!

“

I really enjoy having the opportunity to work closely with employees all over the organization and learning more about them on not only a professional level, but also a personal level.

What do you enjoy doing in your free time?

Rachel: I enjoy spending time with my husband and two children, whether it’s exploring a new place or having a family game night. I also love to bake, exercise, and meet up with friends.

Kortni: I love new experiences of all kinds! My boyfriend and I like to travel often and experience new places and new adventures. I also enjoy spending time with my two fur babies, working out and going up north in the summer with family. ■

“

Through your support, local communities will be strengthened and connected through the creation of a seamless biking and hiking trail traversing the state from Belle Isle in southeast Michigan to Ironwood in the western Upper Peninsula. The Iron Belle Trail is the longest statedesignated trail in the nation and the perfect complement to Michigan's 12,500 miles of recreational trails. This extensive trail network offers opportunities for hiking, bicycling, snowmobiling and other outdoor pursuits.

Iron Belle Trail Fund is very grateful for your tremendous support of this signature statewide project.

Your philanthropic leadership will inspire others and serve to connect thousands of people each year to multiple communities and to Michigan's history through usage of the trail.

”

— Peaches Mccahill Iron Belle Trail, Board Chair

“

Your gift to the Foundation directly impacts the numbers both today and tomorrow, but more importantly, truly impacts students' lives. Thank you for your partnership, offering this generous gift to Wisconsin FFA and agricultural education.

We appreciate your trust in us and resilient belief in the FFA vision we collaboratively share: "Growing Leaders; Building Communities; Strengthening Agriculture.

”

Thank you again for supporting the Wisconsin FFA Foundation.

— The Wisconsin FFA Foundation Board & Staff

...Candid Comments Partners — Spring 2022

18

• 8.2% loan growth in 2021 leading to strong profits of $265 million and $12 billion in owned and managed assets

The GreenStone Story:

Dave Armstrong–

FOUR DECADES OF SERVICE

• Record $115 million returned to members in Patronage, bringing the 17-year total to $720 million • Nearly 600 teammates at 35 locations serving 27,000 members From Intern to CEO – 41 Years with the Farm Credit System

Dave’s career with the Farm Credit System is truly inspirational. Prior to the formation of GreenStone, he began his career with the Production Credit Association of Southeast Michigan in 1979 as a summer intern. Upon graduating from Michigan State University in 1981, he transitioned to a loan officer in Monroe, and later relocated to Farm Credit Services of East Central Michigan as a branch manager in Lapeer in 1985. Soon afterwards, he led the sales and marketing function and became CEO of that association in 1996.

He and his family moved to East Lansing to become GreenStone’s Executive Vice President of Sales and Marketing in 1999 leading to the formation of GreenStone through mergers in 2000. He returned to the CEO role in 2009 and has served as the GreenStone President and CEO over these last 13 years. This is certainly a noteworthy 41 plus-year career.

With a 41-year dedicated career serving the Farm Credit System, Dave Armstrong, your president and CEO of GreenStone, has announced his retirement for mid-2022.

“Dave’s retirement marks the end of an incredible chapter for GreenStone. Under his leadership these last 13 years as CEO, our cooperative experienced robust growth, remarkable technological advancements, very efficient operations, plus outstanding customer service and employee engagement,” said GreenStone Board of Directors Chair Ed Reed.

Dave’s inspiring leadership leaves the cooperative in strong, stable hands. “His 19

Spring 2022 — Partners

strategic vision is one shared by the senior leadership team and Board, and provides a solid path for GreenStone’s future,” Ed confirms.

“It’s really pretty simple; stay focused on what’s important: relationships with our members, teamwork among our staff, live our Core Four values, and stay true to our mission and vision,” Dave Armstrong, President and CEO, shares as his view on the secret to success. “As important as technology advancements are, we don't ever want to lose the human touch that we've brought to this marketplace. The money we lend, the profit we earn, and the Patronage we pay is just how we keep score. It’s the people that matter!”

Dave jokes of his tenure, “Some may think that I couldn’t get a job anywhere else, but I love the Farm Credit System and GreenStone is my ‘farm.’ I’ve treated the business as I would my own and been blessed to have had great teammates and members who are second to none, as demonstrated by our success over the years.”

• Customer satisfaction continues its 20-year trend well above 90% satisfaction

He is a graduate of Michigan State University where he earned a Bachelor of Science degree in animal science. Dave also completed the Graduate School of Banking program at the University of Wisconsin-Madison. He is active in the local community and has served on the board of directors for the Michigan Livestock Expo, the Michigan Economic Development Corporation Executive Committee, the Farm Credit System Captive Insurance Company, the Michigan FFA Foundation, the MSU College of Agriculture and Natural Resources Association Alumni Association, Crystal Flash, and the Chicago Federal Reserve Bank Advisory Committee.

• Core values drive employee engagement and recognition as a Top Workplace USA

Dave’s positive influence reaches far beyond GreenStone. He helped devise the

Leaving the Cooperative on a Solid Foundation

“

AT THE CORE OF DAVE ARMSTRONG What stands out to you from your 13 years as CEO? The professionalism, competency, and passion for the agricultural industry of GreenStone’s team members. They never cease to amaze me in what they won’t do for our members day in and day out.

I’ve treated the business as I would my own...

Most notable accomplishment?

Marrying my wife, Debbie, of 36 years! Also, the birth of our daughter, Lindsey who is now 30 years old.

Favorite moment?

The day our last PPP loan from 2021 was forgiven! Going from 0 to 100 mph with a program that changed, at times by the hour, and successfully processing nearly 5000 loans for about $230 million all on a remote platform was one of the most inspirational moments of my career.

Centric Technology Collaboration GreenStone leads among nine Farm Credit associations, facilitated the strength of industry alignment through Ag Leaders of Michigan, and has touched numerous industry organizations in Michigan, Wisconsin, and across the country.

Over the decades, Dave’s depth of knowledge, moral compass, inclusive approach, and unwavering commitment to the agricultural and

financial industries has benefited each of us.

The Future

The Board and leadership team has a long history of succession planning allowing the cooperative to be well positioned for this transition. The national search firm Kincannon & Reed has been retained by the Board to conduct a national search for the individual best suited to lead GreenStone’s future success.

What are the guiding principles you follow?

Keep God at the center of your life. He’s the only thing that never changes. Do what you say you are going to do, when you say you are going to do it. And, “no one cares how much you know UNTIL they know how much you care.”

Advice for others?

Be kind to others, give grace (NONE of us are perfect), work hard, and don’t ever be afraid to hire people a LOT smarter than you!

Retirement goals?

Travel with my wife, Debbie. Spend time with our daughter and son-in-law, Lindsey and Zach. And hopefully develop some new hobbies besides working at GreenStone. ■

Pause for Applause...

Congratulations to Tubergen Dairy Farm who recently won the 2022 Dairy Farm of the Year Award. Since 1958, MSU has awarded the Dairy Farmer of the Year award to farmers who exhibit outstanding management of their dairy farm business and leadership in the Michigan dairy industry or their community. Michigan State University selected the Tuberon Dairy Farm out of over a thousand other farms for their work to minimize their farm’s footprint and decades of hard work.

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

April Jared Jaymes Jarod Kent Devon Feldpausch Ashlee Guerrero Heidi Lyons Amanda Arnold Carrie Demko Nicole Ladd Amy Trepkowski Mary Fields

5 5 5 10 10 10 15 15 20 25

May Richard Dubke Michael Forst Andrew Warner Jacob McManus Hilary Sawmiller Melissa Rogers Curt Flammini

5 5 10 10 10 15 15

June Allison Pung Teresa Van Cuick Tyler Elliott Elizabeth Waldschmidt Barb Dinsmore Ben Spitzley Steve Eshelman

5 5 5 5 15 20 40

Partners — Spring 2022

20

Directors’ Perspective :

Highlights to Note with CEO Dave Armstrong Serving under the direction of GreenStone’s member-elected Board of Directors, Dave Armstrong has impressively led the association as your President and CEO since 2009.

While there’s much to acknowledge from those 13 years, your directors share just a brief snippet of what stands out to them from their time working with Dave during his tenure.

21

Spring 2022 — Partners

Listens and Relates

Customers First

Complete Engagement

“How many CEO’s of an organization, with the track record of long term success that GreenStone has, can sit in the backyard of a farm and discuss what is going on in agriculture like Dave? The first time Dave visited our farm and sat with my 80-year-old father and had a long talk about what farming means to our family was very memorable. His ability to relate to anyone in our industry is unparalleled; he is leaving big shoes to fill.”

“The one main thing about Dave I remember is he was one of four CEOs in Michigan when there were four Farm Credit associations merging in 2000, and as a result he was going to lose his CEO job. And he still did what was best for the farmers of Michigan and helped create GreenStone Farm Credit Services.”

“Dave sticks his nose into every aspect of the business. He continually asks, “why do we do it this way?” And, he is laser focused on improving customer service at lower cost, which is partially why paper is not his friend!”

— Jed Welder, 3 year board member Facilitates Success

“The one thing that stands out to me is the ease that he can handle a conflict or situation, so all parties understand and come to an agreement.”

— Ron Lucas, 8 year board member Complete Integrity

“I’ve known Dave for quite a few years now, but if I had to think of one word to associate with him it would have to be “integrity.” Dave always takes the high road and is never afraid to do the right thing.”

— Scott Roggenbuck, 14 year board member Finding Success Regardless of Challenges

“Although fairly recent in the scope of Dave's tenure at the helm of GreenStone, it is important to recognize the hurdles Dave and his executive team jumped through in altering business course during the Coronavirus pandemic to keep employees safe while meeting customers’ needs. All of that while still recording a record net income and paying a record dividend back to patrons. Nothing short of exceptional.”

— Troy Sellen, 2 year board member Always Relatable

“I have only been with the board just under a year. The character that stands out about Dave is his grasp of the financial business and his understanding of the uniqueness of the agriculture business. Dave has a comfort level whether talking to VP or any local farmer.”

— Michael Feight, nearly 1 year board member A Team with Bench Strength

“Dave has been incredibly successful at weaving together a management team that works coherently together, resulting in GreenStone’s outstanding success at being a trusted, stable lender for our agricultural community. He excels at taking calculated risks to continue to grow the organization without hindering the security of our customer’s lending base.”

— Dave McConnachie, 1 year current term board member, with 13 years on a prior term Pandemic Pivots

“I am most impressed with Dave’s leadership during the last two years of the pandemic. I can remember my first emergency board meeting with Dave detailing how GreenStone would be operating during the lock down to meet the needs of our customers. It was a time of great uncertainty and challenges none of us had ever faced before. Through all these challenges Dave has managed to not only keep GreenStone on course, but help guide us to some of the best years we have ever had financially.”

— Mike Timmer, 3 year board member

— Gene College, 12 year appointed director Humble Leadership

“Dave’s passion for Michigan and Wisconsin agriculture and Farm Credit is second to none.

He has an incredible ability to collaborate with staff, shareholders, and his counterparts in agriculture. I have always admired his humility and availability as the leader of GreenStone. He has always been willing to step up to challenges and do the right thing. At the beginning of the pandemic and the first round of PPP loans, Dave was quickly eating his Easter dinner so that he could get back to manually keying in customer loans…if that isn’t humble leadership, I don’t know what is. Thank you for all you have done for agriculture, Mr. Armstrong!”

— Peter Maxwell, 5 year board member

Delivering Quality

Few Words, Big Impact

“Two things stand out to me when I think about Dave’s time as CEO. One is his ability to foster and maintain a great culture for employees and members alike. The second is his commitment to the Patronage Program and returning in excess of $700 million back to members.”

“Among the years of memories and significant moments, there’s several phrases, “Davisms” that stick out to me, which I feel truly define his leadership and management traits.

— Dale Wagner, 9 year board member Keeping It All Balanced

“The leadership he provided in the siting and constructing the new headquarters is a highlight. His drive, focus and management of the myriad of decisions facing the organization were just amazing. His appointment of Clint (Director of Facilities) at that time was just another in a long line of terrific talent recognitions that mark his tenure.”

– Reputation Management – Carry the water – Politics – It's a Team Sport – Block and Tackle – Juice worth the squeeze – Out over your skis – How much capital is enough – Bench Strength – What does that do for cost – Growth – Keep your eye on the ball – Got lucky again – Swing and a miss – Shoot for the middle – Shareholder value – GreenStone is "My Farm" – Dave, thanks for all your leadership; you've left the “farm” in great shape!”

— Ed Reed, 13 year board member. ■

— Dennis Muchmore, 19 year appointed director Doing What’s Right

“I guess one thing that really stands out to me was Dave’s handling of the COVID pandemic: shutting down offices, working virtually, and keeping the team working so effectively in so much adversity to continue to deliver for our members needs.”

— Bruce Lewis, 10 year board member

— Terri Hawbaker, 6 year board member Partners — Spring 2022

22

Legislative Matters:

WHAT IS IN STORE FOR THE 2023 FARM BILL? The time is now to start thinking, talking, and taking some action to know what is coming and engaging in dialogue on the ingredients of the Farm Bill. It is a perpetual process that happens every five years and the legislation can have a dramatic effect on the business strategies of the agricultural industry.

In general, the Farm Bill connects the food on our plates, the farmers and ranchers who produce that food, and the natural resources of our soil, air and water that make growing food possible. The legislation covers programs ranging from beginning farmer training, support for sustainable farming practices, crop insurance for farmers, to healthy food access for low-income families.

For a historical perspective, 23

Spring 2022 — Partners

the original farm bill(s) were enacted in three stages during the 1930s as part of President Franklin Delano Roosevelt’s New Deal legislation. Its three original goals were to keep food prices fair for farmers and consumers, ensure an adequate food supply, and protect and sustain the country’s vital natural resources.

In great part, the early farm bills were initiated to respond to the economic and environmental crises of the Great Depression

and the Dust Bowl. Somethings seem to never change like economic and environmental crises, although the challenges take on different forms and actions.

Every five years there is an extensive process where it is proposed, debated, and passed

by Congress and is then signed into law by the President. The current farm bill is called the Agriculture Improvement Act of 2018. As the process develops a 2023 farm bill, a new headline name will be ascribed that tries to capture support of the population. While the farm bill has changed in the last 70 years, its primary goals are the same.

The legislation has several chapters, all of which impact agriculture in some manner.

Here’s what they’re called (and what they cover):

Title 1: Commodities. The Commodities title covers price and income support for the farmers who raise widelyproduced and traded nonperishable crops, like corn, soybeans, wheat, and rice – as well as dairy and sugar. The title also includes agricultural disaster assistance.

Title 2: Conservation. The Conservation title covers programs that help farmers implement natural resource conservation efforts on working lands like pasture and cropland as well as land retirement and easement programs.

Title 3: Trade. The Trade title covers food export subsidy programs and international food aid programs.

Title 4: Nutrition. The Nutrition title covers the Supplemental Nutrition Assistance Program

[SNAP] (formerly known as food stamps) as well as a variety of smaller nutrition programs to help low-income Americans afford food for their families.

Title 5: Credit. The Credit title covers federal loan programs designed to help farmers access the financial credit (via direct loans as well as loan guarantees and other tools) they need to grow and sustain their farming operations. This is where Farm Credit gains its authority.

Title 6: Rural Development.

The Rural Development title covers programs that help foster rural economic growth through rural business and community development (including farm businesses) as well as rural

housing, and infrastructure.

Title 7: Research, Extension, and Related Matters. The Research title covers farm and food research, education, and extension programs designed to support innovation, from federal labs and state universityaffiliated research to vital training for the next generation of farmers and ranchers.

Title 8: Forestry. The Forestry title covers forest-specific conservation programs that help farmers and rural communities to be stewards of forest resources.

Title 9: Energy. The Energy title covers programs that encourage growing and processing crops for biofuel; help farmers,

ranchers and business owners install renewable energy systems; and support research related to energy.

Title 10: Horticulture.

The Horticulture title covers farmers market and local food programs, funding for research and infrastructure for fruits, vegetables and other horticultural crops, and organic farming and certification programs.

Title 11: Crop Insurance. The Crop Insurance title provides premium subsidies to farmers and subsidies to the private crop insurance companies who provide federal crop insurance to farmers to protect against losses in yield, crop revenue,

or whole farm revenue. The title also provides USDA’s Risk Management Agency (RMA) with the authority to research, develop, and modify insurance policies.

Title 12: Miscellaneous.

The Miscellaneous title is a bit of a catch-all. The current title brings together six advocacy and outreach areas, including beginning, socially disadvantaged, and veteran farmers and ranchers, agricultural labor safety and workforce development, and livestock health.

Beware as Congress starts their engines on this massive project, and stay tuned in for thinking, talking, and taking action. ■

PAC Progress:

THANK YOU FOR BEING A CHAMPION OF OUR COMMUNITIES AND THE AGRICULTURAL INDUSTRY! The WI Farm Credit PAC Contribution Campaign received over $2,000 from Wisconsin GreenStone customers. The WI Farm Credit PAC funds will also be disbursed by your Directors and management team in coordination after a similar evaluation process.

The 2022 MI GreenStone PAC Contribution Campaign was record setting with almost $34,000 being contributed by more than 460 Michigan GreenStone customers. This is another strong representation of the support members have for the MI GreenStone PAC. Your board of directors and management team are diligently evaluating legislative leaders and will be sharing the importance of rural communities, agriculture, and the Farm Credit System with elected officials.

The AgriBank District 2022 Farm Credit PAC drive competition brought in almost $295,000 in contributions from Farm Credit employees and association directors. These funds are used to support federally elected officials. A portion of the Farm Credit PAC funds will be allocated to the GreenStone territory and your directors and management team will assist in the delivery and communication of the Farm Credit message.

As the debate over policies critical to rural communities and agriculture heats up, we are well positioned to carry the messages of Farm Credit and our customers. In fact, the work has already begun with Ag Day in Michigan and Wisconsin.

Overall, our success will be determined by the strength of the relationships we have with elected officials, and that is why your support of the PACs is so important. Thank you for being a champion of our communities and the agricultural industry! ■

Congratulations to GreenStone’s financial services officers Charles Neuenfeldt, Michael Niesyto, Johnathon Thompson, Kelly Aiken, Joshua Quaderer, Kim Knoerr, Kimberly Cool, and Harry Tope as their customers led the way in supporting these PACs’ purpose.

Partners — Spring 2022

24

GOOD THINGS COME TO THO WHO WAIT

25

Spring 2022 — Partners

S OSE

LIVE

Country Living Customer Feature

Chris Ockert firmly believes that good things come to those who wait, and he considers himself a great example.

When Chris was 11 years old, he started his working life shoveling manure on a pig farm in Mulliken, Michigan. At age 15, he worked in restaurants after school and on weekends.

When he turned 17, he began working at a machine shop, then when he graduated from high school, he came to a pivotal point in his life – though he didn’t know it yet.

He continued planning for the future. In 2001, Chris purchased 40 acres of land in Mulliken, and four years later he built a house on the property.

Unfortunately, the timing wasn’t perfect.

“I struggled very hard to keep my head above water, I didn’t make enough money to afford what I had. I nearly lost everything I worked so hard for,” Chris said.

Since he needed more income, he decided to work even harder and started doing additional asbestos removal jobs for himself, at night and on the weekends. He eventually separated from the first company.

“I didn’t know what I was going to do. I thought everything was over. But my fiancée, Jessica Gilton, constantly said that everything will be okay. We’ll make it together, and it doesn’t matter if we live in a cardboard box on the street.”

View a highlight reel video at: www.greenstonefcs.com/CLSpring22

Partners — Spring 2022

26

“

A great friend of mine always told me good things come to those who wait, and now we are building the home of our dreams.

Chris decided he could work even harder to get himself out of the situation. He wasn’t doing it just for himself and Jessica, but also their children – Taleah (14) and Zack (21).

“I had her encouragement that we could make life better together,” he said.

He worked for different companies in his profession, but he still was having trouble staying ahead of the bills.

Despite all this stress, he took a huge step. In May of 2016, he started his own company – Abatement & Demolition Services, based in Mulliken. ADS services include asbestos removal, where technicians build a negative pressure enclosure and remove and dispose of the asbestos.

All of his years of working hard for others, gaining valuable experience, led to him working for himself.

“It’s been many long, hard days,” Chris said.

“But I just did it.”

Chris then made another big decision – it was time to build their forever home. They chose a one-of-a-kind timber frame home on his property in Mulliken. This was his first time working with GreenStone.

Stacy Stinson is a financial services officer in the Charlotte branch, and she enjoyed working with Chris on his plans.

➡C hris and his dog Rosco inspecting the ongoing work inside the home. ➡C ustomer, Chris Ockert, admiring his homestead from his back porch.

27

Spring 2022 — Partners

“He’s really open to ideas, really creative, and one of the nicest people in the world.

Since he runs his own business, he’s very customer-focused, and he knows what we need from him,” she said. “He’s always looking into doing new things, and he’s really down to earth.”

“Stacy has been really helpful,” Chris said.

“It’s been great working with her.”

Chris and Jessica took months to plan what they wanted for their home. They didn’t want a spec house, or a house that wasn’t anything special – they wanted to make it different.

As a result, their home reflects those wishes.

For instance, they use different types of timbers throughout the structure.

“We have oak and pine – we picked the features we wanted,” Chris said.

“Chris is building his beautiful timber-frame home and barns on 40 acres,” Stacy said.

“He also recently purchased another 40 acres to graze cattle and have a rental home near his homestead. GreenStone has financed both projects and built a tremendous relationship with Chris. All the staff that have worked with him have had phenomenal experiences.”

Their home, where every detail is being considered, is projected to be done soon.

Chris and his family are looking forward to moving into their new home and enjoying the acreage.

“A great friend of mine - Todd Ranshaw – always told me good things come to those who wait, and now we are building the home of our dreams,” he said. ■

i

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

Country Minute: Choosing the Right Builder for Your Home Congratulations! You’ve made the decision to build a home. Now comes the difficult part – who will be with you every step of the way?

Country Minute: Home Site and Construction Loan Timing Should you buy the land and build right away, or would it be better to buy land now and wait to build? In financing terms, you’re asking which kind of loan you need – a home site versus a construction loan.

Country Minute: Tax Breaks for Homeowners Home ownership is part of the American dream…but so is financial stability. We want to you to be successful in both areas, so let’s discuss the tax benefits for building, buying, and improving a home. ■

Partners — Spring 2022

28

EARLY BIRD By: Jordan Browne Producer, Michigan Out of Doors TV After a long winter, the sights and sounds of spring are a welcome addition to the senses. Hearing the songbirds early in the morning or the trickle of a small stream lets me know winter is on its way out and a new season is upon us.

However, there’s nothing more synonymous with spring than a turkey gobble at sunrise, at least to an outdoorsman’s senses.

the roost. Turkeys roost in the trees overnight and getting into position before the they fly down can make or break your hunt.

Early mornings in the timber are a regular part of most turkey hunter’s schedule. Although turkeys can be hunted throughout the day, most hunters' target the morning hours.

Turkeys are much more vocal in the morning and tend to be more predictable, at least off of

If you happen to know where the birds are roosted, this concept is pretty simple. However, if you’re forced to locate the birds the morning of that’s when things can get interesting.

In most instances, turkeys will be roosted in groups. There’s usually several hens (female) for

every tom (adult male) and luring a tom away from the group and within shooting range can be difficult. However, if you’re able to get close to the flock without being detected and understand the importance of timing, you can greatly increase your odds of notching a tag.

There’s a short window of time between when the first gobble echoes through the trees and when turkeys start to fly down. That first gobble is usually shortly after daybreak but well before sunrise. This is the first part of the timing equation, getting into position before the first bird hits the ground by using the cover of the darkness. In an ideal situation, you would position yourself between where the birds are roosted and where they are likely to feed once they leave the roost. The goal is to be close enough to the flock that a tom thinks you’re part of the group. I try to get within at least 150 yards of the flock and closer if the conditions allow. The topography, leaf cover, and moisture are usually the most important factors when determining how close you can get. I’m almost always on the side of getting too close versus not close enough.

Once you are in position, you are once again on the clock. Toms generally fly down first and are pretty vulnerable if you can get their attention before the hens hit the ground. This is another short window from a time stand point, usually less than 15 minutes. This is your best chance to fill a turkey tag off of the roost.

The toms are usually fired up from a long night in the tree and are quite responsive. If you’re close enough to where he lands you have a great chance at calling him in. In this situation, try your best to read the mood of the tom and go from there. Often times, you won’t need to call very often before he closes the distance.

Once the first hen hits the ground your odds of pulling the tom away from the group go down dramatically. It is possible to call the entire group in, but it’s much more difficult.

If all goes well, you’ll get to watch the sunrise with a turkey in hand and in plenty of time for breakfast! If things don’t go as planned, that just means there’s another spring sunrise in your future. Good luck to all of the turkey hunters out there and if you plan on hunting the roost make sure you get out early and get in close! ■ The opinions stated herein are not necessarily those of GreenStone Farm Credit Services.

29

Spring 2022 — Partners

SPRING CLEANING FOR YOUR HOME After a long dark winter, the sun is out and shining.

However, now the welcomed sun is shining a light on the leaf filled gutters, cracked sidewalks, and yards filled with mud.

Spring cleaning is a routine in many households, but the most important tasks can easily get forgotten as our schedules get busy. Here’s a few essential home maintenance tasks you should remember during your spring cleaning.

Start your maintenance off by checking your roof and gutters.

Winters can be brutal, and our roofs take the most damage.

Check for missing shingles, soft spots, or anything that looks suspicious. Finding and fixing small problems is a great way to prevent large disasters down the road.

While on the roof, inspect your gutters. For many, leaves from last fall are filling your gutters. Clogged gutters prevent the dispersal of water as intended, leading to water damage which can be a significant problem for your home. Water damage is usually not noticed until it’s too late, so be proactive. Clean gutters also improve the lifespan of your roof and eliminates nesting area for pests.

The biggest forgotten maintenance task is filters. So many things in your home have a filter that should be replaced routinely. Your HVAC should be checked for signs of repair or replacement. Damaged or clogged filters will cause your heating and cooling systems to work harder, which increases your bill and can cause damage to the unit. Clogged filters will also lead to lower air quality in your home. Start the season off right, with high air quality and a low bill.

While not always the most fun tasks to complete, these maintenance projects will save you money in the long run and can improve the health of your home! ■

Next, check your window screens. Being able to open the windows and let in a fresh breeze is one of the best parts of springtime, but this is also a great way for bugs to get into your home. Screens can be easily damaged, so make sure to check for any holes to prevent unwelcomed guests. Similar to screens, the seals around your doors and windows can easily be weakened by the changing weather conditions. Checking these seals can help prevent bugs, prevent water from leaking inside, and even help you save money on air conditioning in the upcoming months.

Partners — Spring 2022

30

SPICE UP YOUR GARDEN Spring is here, and it’s the perfect time to get your hands dirty and put down some roots! Herb gardens are a great addition inside or outside your home. They are extremely versatile plants and easy to grow - even if you don’t have a green thumb.

For all the beginner gardeners out there, planting herbs is a great way to start. The garden will take minimal effort to begin compared to other plants, like vegetables, and the herbs will grow quite easily. Many of them are so easy to grow, that you can plant them almost anywhere: indoors, in pots outside, directly in the ground, or even use a hydroponic system. After planting, they can handle a wide variety of temperatures and require minimal maintenance.

Once you plant your herb garden, you’ll be able to step outside or over to the windowsill to grab fresh chives for your morning breakfast. Herbs can also help improve your health. Herbs help with building your immune system, detoxifying, digestion, headaches, and even can reduce stress.

The herbs can also be used to make your morning tea. Try a pinch of peppermint to boost your mood or to help settle an upset stomach.

Herb gardening might even lead to a healthier and happier life. In today’s society, it’s easy to get lost in routine and overstimulated by electronics. Taking a break from the computer, and spending time outside getting dirt under your fingernails is a great way to improve your mental health.

We all need a little fresh air, Vitamin D, and a break from daily stress to reduce the risk of burnout, lower our anxiety, and boost

31

Spring 2022 — Partners

our mood. Even having a few plants in your office can help improve the energy of the environment.

If all of these benefits have not convinced you to start your garden,; think of the money-saving factor. We all know that purchasing herbs can be pricey. Why buy herbs from the store when you can grow them? With only a few dollars, you can purchase a pack of seeds that will grow for years. Growing will also help you reduce waste. We all have experienced the downfall of forgetting herbs in the fridge and having to throw away a bag after only a few days.

Growing allows you to always take the perfect amount. A dash of cilantro won’t lead to any waste when you grab a few leaves off your living plant.

Now that you’ve heard all the benefits of starting an herb garden, there’s a few common ones you might want to grab when you stop at your garden center. Mint is the most common to have on hand to treat any stomach issues, boost your immune system, and to remedy symptoms of the common cold. There’s nothing better than a hot mint tea to soothe a sore throat. Rosemary is a great herb to spice up any dish. It can be used in soups, salads, and even stews. A hint of rosemary on your chicken will give a lemony-pine flavor. The options are endless… why not try a few this year! ■

Commodity Cuisine...

Honey Garlic Pork Chops Ketchup, honey, garlic, and soy sauce are a perfect combination for a sweet and savory glaze for your next grill adventure! Marinate overnight or right before you’re ready to grill – either way these pork chops will be flavorful and a favorite. Serve with a vegetable medley!

Recipe Summary Prep: 10 mins Cook: 15 mins Total: 25 mins

Directions • Preheat grill for medium heat and lightly oil the grate.

• Whisk ketchup, honey, soy sauce, and garlic together in a bowl to make a glaze.

• Sear the pork chops on both sides on the preheated grill. Lightly brush glaze onto each side of the chops as they cook; grill until no longer pink in the center, about 7 to 9 minutes per side. An instant-read thermometer inserted into the center should read 145 degrees F (63 degrees C).

Servings: 6 Nutrition Facts Ingredient Checklist • 1/2 cup ketchup • 2 2/3 tablespoons honey • 2 tablespoons low-sodium soy sauce

Per Serving: 208 calories; protein 25.6g; carbohydrates 13.5g; fat 5.6g; cholesterol 65mg; sodium 441.1mg.

Full Nutrition ■ Source: Allrecipes.com

• 2 cloves garlic, crushed • 6 (4 ounce) (1-inch thick) pork chops

Partners — Spring 2022

32

LEARN

CROP INSURANCE NEWS:

NOW IS THE TIME TO SIGN UP FOR HAIL INSURANCE! What used to be considered a fairly rare event seems far more commonplace now. Hail is a separate policy from your multi-peril crop insurance coverage. Federal crop insurance covers hail damage as it relates to yield reduction, but producers can also purchase separate hail coverage for their crops from the same companies that offer federal crop insurance. As an added bonus, your hail policy can provide coverage for fire, lightning, vandalism/malicious mischief and transit to the first place of storage.

Hail insurance is based on the percent of damage received at a particular growth stage, which allows insurance companies to perform adjustments and pay indemnities during a growing season, without having to wait until harvest. Rates and coverage vary by crop and county. Keep in mind, hail insurance must be purchased before damage occurs. Below are some other important items of note regarding hail coverage.

33

Spring 2022 — Partners

• Most hail insurance covers other perils above and beyond hail damage. Policies can also cover fire, vandalism and malicious mischief, transit to the first point of storage, and stored grain coverage if you happen to have bin(s) at home.

• Hail coverage is available on most any crop; if you don’t have a Federal crop insurance option, it can generally be covered for hail.

• A customer is able to carry a Federal MPCI policy as well as a hail policy, and collect on both in the event of a loss.

• Hail coverage is based on a dollar amount of coverage per acre, with premium generally quoted per $100 of coverage. For example, if someone wanted to cover their corn at $700 per acre, and the premium was 60 cents per $100 of coverage, their premium for corn would be $4.20 per acre.

• One benefit to hail insurance over MPCI is that you can insure up to the total expected value of the crop, whereas on MPCI you’re limited to 85%.

• Hail coverage generally has many different endorsements available, including quality endorsements on crops intended for fresh market, canning reject endorsements, etc.

To learn more on how a hail policy works or what options are available and covered with a hail policy, contact your GreenStone crop insurance specialist today to review your options.

Most claims will not be paid until the review is completed. The earlier the process begins, the earlier a claim can be paid. For more details, please contact your local GreenStone crop insurance specialist. ■

EARLY/FINAL PLANT DATES

1ST CROP/2ND CROP

Early and final plant dates vary by crop, county and state. Coverage levels can be reduced if a crop is planted too early or too late.

Please check with your crop insurance specialist or actuarial documents for specific details and dates for your county if you are unsure about which dates apply to your policy. ■

If you are planning on possibly removing a first crop to plant a second, make sure you contact your crop insurance agent before doing so. You could potentially be eligible for a claim, but you may forfeit that eligibility if you act before contacting your agent to discuss your options! ■

2022 FALL WHEAT & FORAGE CLAIMS

The added subsidy on the enterprise unit structure makes it an affordable option for many producers. The downside is, if you don’t end up planting the required acreage, your policy can revert back to a basic unit structure, and your premium could increase substantially. There are two requirements to qualify for enterprise units:

ENTERPRISE UNITS STRUCTURE

You must farm in two or more separate sections.

Appraisals are required when a customer plans to do something with the crop other than harvest in the normal manner. If you do not plan to take your wheat/ forage crop to harvest, we must appraise the acres prior to destruction. ■ ACREAGE REPORTS The earlier we get started on reporting your planted crop acres, the earlier we can process your reports and return for your review.

It is the customer’s responsibility to report the crop that was planted in each section, the planting date and your percent share of that crop. Reporting your crop accurately and double checking everything on the Schedule of Insurance is very important.

Corrections or changes cannot be made after the July 15th reporting deadline. You do not need to report to FSA before reporting your planted acres to your crop insurance specialist. If you use precision planting technology, we can save you a lot of time reporting acres. Contact your local GreenStone crop insurance team if you have any questions or would like assistance. ■

PREVENTED PLANT OR REPLANT RULES HAVE CHANGED

AND At least 20 acres, or 20% of your individual crop acreage, whichever is less, must be planted in that second section.

Adverse spring weather has the potential to cause prevented planting which could take some producers out of enterprise unit eligibility. Make sure to contact your crop insurance agent if you anticipate any issues with meeting the enterprise unit requirements. ■ CROP INSURANCE ALERTS!

Crop Insurance Alert Notice!

If weather conditions prevent you from planting or you need to replant a crop, you may qualify for a claim. File a claim with your crop insurance specialist before replanting. DO NOT replant until you have received approval to do so, or you may not receive an indemnity. If you have a prevent plant situation, a claim must be filed within 72 hours after the end of the late planting period, which varies by crop. (There is a minimum requirement of 20% of the unit or 20 acres for both replant and prevent plant claims, whichever is less.) Some important changes were made for the current crop year in regards to both Replant and Prevent Plant rules. Depending on the timing of the replant period, weather and field conditions, you could be required to replant. Please contact your crop insurance specialist for the most current rules and guidelines. ■

ORGANIC CROPS As a reminder, RMA now requires all insured organic certified producers to provide a copy of their organic crop plan and organic certificate to their agent before the acreage reporting date. ■

Crop Insurance Alert postcards and emails will be sent on an “as needed” basis to customers. The goal is to communicate any vital information that we receive and feel necessary to pass along to you. When you receive one, please pay attention to its message. That way, any required action on your part can be completed on a timely basis. ■ Partners — Spring 2022

34

IMPORTANT — CLAIMS & APPRAISALS

CLAIM CHECKS / INDEMNITY PAYMENTS Did you know that if you have a claim that results in an indemnity payment, you can have that direct deposited into your bank account? Don’t wait on the mail to receive your money; have it direct deposited on the same day that your claim is finalized.

Contact your crop insurance specialist for details on how to make that happen! ■

Crop Insurance Calendar...

APRIL

29

Production Reporting Deadline for all 2021 Spring Crops

MAY

15

Oat Acreage Report Due

JULY

Most producers have been there before.

No matter what you do during the growing season, sometimes Mother Nature just will not cooperate, and you are anticipating that your yields may fall below your guarantee. This is never the situation you would like to be in, but that is why you purchased crop insurance to begin with. If you do find yourself in a claims situation, there are some important things to remember that can help the process go a lot more smoothly.

Insurance coverage generally begins at time of application or time of planting, whichever is later. The end of the insurance period is the earlier of total destruction of the crop, final harvest of the crop, abandonment of the crop, or the end of the insurance period. (October 31st for wheat) It is the insured’s responsibility to notify the insurance company within 72 35

Spring 2022 — Partners

hours of the initial discovery of the damage or production loss, but no later than 15 days after the end of the insurance period, even if the crop has not been harvested. If you have a revenue protection policy and have a claim based on strictly price, the insurance company must be notified within 45 days of the harvest price announcement for the crop. The RMA is enforcing these rules and have been known to decline late filed claim requests and have even requested repayment from an insured for paid claims that were improperly filed.

Remembering these key points will help avoid any problems with your claim and make the process go that much better. As always, if you have questions based on what you’ve read, please contact your crop insurance specialist and they will be able to help you out. ■

1

Forage & Fall Wheat Premiums Billing Date

15

Spring 2022 Acreage Reports Due

AUGUST

29

Spring Premium Billing Date

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

Precision Data Sharing Crop insurance through GreenStone is even more streamlined than you may have experienced before, because you can now electronically share your precision data with your crop insurance specialist.

The purpose of crop insurance is to help protect your business, and that’s why along with offering the smartest plans to protect revenue, we also have the latest in technology to save you time and money.

Using precision data benefits farmers in a variety of ways.

First, it makes it simple to share important information, as it uses data you’re already capturing. As an added benefit, it is easier to

keep records since you’re not managing a lot of pieces of paper. Plus, you can do it from your home, your field, your farm - anywhere you can get on the internet.

The biggest benefit to GreenStone customers is policy holders only pay premium on the acres they plant, and this also creates a more precise Actual Production History (APH.) If you’re reporting fewer acres, this could increase your APH, resulting in a larger guarantee and the first dollars paid during a claim.

Ultimately, this helps crop insurance specialist assist customers

because it reduces the amount of time specialists spend with policy holders collecting data, and instead allows time for more valued-added conversations. Policy holders already collect this data; electronically sharing it with your specialist saves time for the policy holder with both the crop insurance specialist and their FSA office.

upload them, you’re set for a faster claim process.

Precision data sharing applies to reporting, claims, and APH reviews. For reporting, as soon as your planting and harvest data is available, you can upload it securely to the cloud - or put it on a thumb drive for your crop insurance specialist to access. No need for printing paperwork or entering data into a website. The completed report will be sent in DocuSign for your approval.

You don’t need to worry about GreenStone mining or selling your data. We only use what’s needed for crop insurance, and we never share your information. Even though precision data may capture a lot of extra information, we only use the same information that you are currently manually reporting.

For claims, your adjuster will have the information as soon as you share it. Plus, you know that your data is complete and accurate, which will result in a fair assessment of payment.

Three documents are required to verify a loss – seeding map, calibration report, and harvest wet-weight map. When you

When you’re using it for APH reviews, you can ensure your records are correct, save time by doing it all electronically, and provide the best data.

Farmers can gather the relevant precision records, review them with GreenStone, and the complete records make the process even smoother.

Not only does sharing precision data make working with GreenStone more convenient, but with the instant sharing of information, it takes much less time to validate claims, so you get your money faster. You do the field work, we’ll do the paperwork.

For more information, contact your GreenStone crop insurance specialist. ■

Partners — Spring 2022

36

On the Right Rhoda

37

Spring 2022 — Partners

Tax & Accounting Customer Feature

Larry and Steve Rhoda are making full use of the tax and accounting services GreenStone offers, as it makes it easier for them to concentrate on what they really love – farming.

Larry and Steve are brothers who farm separately, but together. They both grow seed corn, commercial corn, and soybeans in Schoolcraft on land that Larry owns, land that Steve owns, and land they own together.

Overall, they’re farming approximately 3,600 acres.

Their original home farm was started in 1934 by their grandfather Lawrence Rhoda, and then was farmed by their uncle John Rhoda. After finishing high school, in 1984 Larry joined his uncle. After Steve graduated,

he began farming in 1994. The team of brothers eventually bought out their uncle and have been building and growing their businesses ever since. Steve’s son Kyler is an employee, and they also have one other full time and two seasonal employees.

Larry first was led to GreenStone in 1985, when his uncle John cosigned for his first land loan to start farming.

“John was already established with GreenStone, so he hooked me up. This was

so long ago, it was before it was even named GreenStone,” Larry said. “Then when Steve came back, I helped him get a loan with them, too.”

Tax time

Larry and Steve do much of the work themselves, and as usual on farms, the paperwork was left until after the urgency of field work was done.

“We are probably shorter-staffed than most farms, and we do a lot of it ourselves,” Larry said. “The bills and accounting work just got stacked up and put on the back burner. We were so busy in the field that we would leave all of it until the end of the year.”

At the time, then tax accountant Mark Koester at GreenStone approached Larry and asked him to bring in his last three years of taxes to evaluate – for free. This is a service that GreenStone still offers to members today.

Partners — Spring 2022

38

“Two weeks later, he told me we had a $14,000 credit coming to me,” Larry said.

“That was huge for me, and I decided right there they could do my tax work.”

He wasn’t the only one who benefitted from the free tax review.

“Then I took my records to GreenStone, and they gave me a credit back too,” Steve said.

One of the advantages members see from using GreenStone for tax and accounting services is that they specialize in agriculture.

“There’s a difference in just going to an accountant and going to GreenStone, since they know things about farms that regular accountants don’t,” Larry said. “Our city accountant just didn’t know what kind of credits we could get. That sold us on it right then.”

Expansion of services

The Rhodas became comfortable with GreenStone doing their tax work, and then they were introduced to more of their services, like onsite accounting.

“We trust them, and we knew we could count on them,” Larry said. “When they told

39

Spring 2022 — Partners

us about their accounting services, Steve and I began having them come out once a month. My wife Melissa runs the bills, and then [tax and accounting assistant] Marie Fair checks them to make sure they’re going to the right places, reconciles the month, and backs it all up.”

The difference for Larry and Steve was convenience.

“At the end of the year, instead of spending the whole month of December digging around and finding paperwork that fell behind the desk, now I just go to see GreenStone at the end of the year,” Larry said. “It’s already done amazing things for helping the farm stay on top of things, stay efficient, and plan for the future.”

As an added benefit, the Rhodas share their accounting information with their financial services officer, Emelee Rajzer.

“If I need a loan, instead of doing and gathering new paperwork every time, I’ve given them full authority to look into our account,” Larry said. “That’s helped a lot for speed and efficiency on our end.”

An additional GreenStone service the Rhodas

are using is help in creating and maintaining balance sheets.

“Once a month, when GreenStone is here to do the accounting services for us, they also plug the numbers into a balance sheet,” Larry said. “This way, we can track and make sure we’re in the right place. GreenStone’s help with the balance sheet takes a lot of the pressure and stress off of us.”

The Rhodas think the time is worth the effort.

“It’s a very beneficial plan to have GreenStone come out and work with us,” Larry said. “It takes an hour and a half, and we know it’s done right, and the loan officer can see it all.

The same person comes every time, so she knows where to put things, and what to do, and since it’s monthly, now we know Marie on a personal level, too.

“It really benefits both our farms,” Steve agreed.

Relationships

The Rhodas have formed successful working relationships with many people at GreenStone.

“

If I need a loan, instead of going and gathering new paperwork every time, I’ve given them full authority to look into our account...

That’s helped a lot for speed and efficiency on our end.

Tax Calendar...

APRIL

18

st quarter estimate is due for 2022 for 1 individuals that pay estimated taxes. orporations file a 2021 calendar year tax C return (Form 1120) and pay any tax due. If not able to file, file Form 7004 to request an automatic 6-month extension.

Corporations deposit the 1st installment of estimated income tax for 2022.

“We also really enjoy working with Elizabeth Waldschmidt,” Steve said. “She always answers the phone, and she does a great job.”

Elizabeth Waldschmidt is a senior tax accountant at GreenStone who brought 20 years of experience with her when she transitioned into Mark’s role after he took a new position with GreenStone several years ago. She’s been working with the Rhodas since her first day of work.

MAY

“We do a little bit of everything for the Rhodas – we do their payroll taxes, accounting, tax planning, and tax returns. It’s a neat operation, with two brothers farming together, and it’s fun to see them work together. They’ve made a very successful business for themselves.”

JUNE

2

15

As the Rhodas concentrate on their farm, GreenStone is equipped to do the behind-the-scenes financial work.

“If there was ever a time I hated on the farm, it was when I had just spent seven days a week doing seed corn, and it was December,” Larry said. “Instead of taking some time off, I would have to dig through paperwork for year-end financial information. Now, it’s just as nice as can be – I push a button and everything is done.” ■

Non-farm employers file Form 941 for the 1st quarter to report Social Security, Medicare, and withholding.

2nd quarter estimate is due for 2022 for individuals that pay estimated taxes.

Corporations deposit the 2nd installment of estimated income tax for 2022.

Not only does she like doing business with them, but she likes to see their working relationship.

“They each have their own land, own seed, chemicals, equipment – it’s not a partnership, they’re just individual farmers that never argue over who owes each other,” she said. “At the end of the year they just say, we’ll figure it out.”

I ndividuals file a 2021 income tax return (Form 1040) and pay any tax due. If not able to file, file form 4868 to request an automatic 6-month extension. If tax is due it must be paid with the Form 4868.

AUGUST

1

Non-farm employers file Form 941 for the 2nd quarter to report Social Security, Medicare, and withholding.

Form 5500 is due for all employers that maintain an employee benefit plan such as a pension plan.

If not able to file, file form 5588 to request an automatic 2.5 month extension.

➡T he Rhodas are wrapping up tax season with the help of their Greenstone tax accountant, Elizabeth Waldschmidt.

Partners — Spring 2022

40

i

Tech Tip:

Smishing and vishing – Old tactics, rising popularity Matthew Cosgrove GreenStone VP of Information Security

2021 was an unprecedented year in the world of cyber security. Through Sept. 30, 2021 there were 1,291 publicly reported breach incidents according to the Identity Theft Resource Center (Identity Theft Resource Center, 2021). Many ended the year with a very publicized Apache Log4j vulnerability that affected millions of internet-connected devices. Heading into 2022, there are no signs of this activity slowing down. In fact, with the current geopolitical scene, many cybersecurity professionals are expecting phishing and ransomware events to increase this year.

41

Spring 2022 — Partners

Verizon reported in its 2020 Mobile Security Index Report (Verizon, 2020) that 85% of phishing attacks take place on mobile devices. These attacks are happening via messaging (SMS), social media, gaming sites, and productivity apps like Google’s G-Suite or Microsoft’s Office365.

Phishing attacks continue to be a popular choice with bad actors because of their simplicity and that they continue to work.

According to Gartner Research (Pemberton, 2016), 98% of all text messages are read, and 45% of them are responded to; this is much higher than emails, which have only a 20% read rate and only 6% are responded to.

Smishing and vishing are two old tactics that continue to gain in popularity targeting mobile phones.

What is Smishing?

The word smishing comes from combing “SMS” which means short message service. This is the technology used on our mobile devices for text messaging. SMS is combined with the word “phishing”, which is a cybercrime that attempts to lure individuals into providing sensitive data such as personally identifiable information, banking and credit cards details, and usernames and passwords. Phishing attacks use email, and smishing attacks start with a text message that looks like a legitimate message. These text messages contain URLs or links that trick recipients into visiting websites that could download viruses onto the victim’s mobile device or want you to provide sensitive data.

What is Vishing?

you receive a call after a month, online profiles and do not share your mobile phone number on you can report the offense to The word vishing comes from public websites. combing “voice” and “phishing”. the FTC. Vishing is simply a phishing • Do not reply directly to • Do not pick up the phone – If attack that, instead of using an smishing text messages – you do not know the phone email, starts with a voice call. replying directly to these number that is calling, let the The scam artist wants to trick smishing text messages lets number go to voicemail. If the you into providing sensitive the spammer know that this caller leaves a message, you can data to the scam artist over the number is genuine. This could decide if you need to contact phone. The scam artist will often increase the number smishing say things like your account them back. messages you receive. is compromised or locked out • Hang up the phone - If you • Do not click on any links in and claim to represent financial pick up the phone and suspect text messages – clicking links institutions, law enforcement, or a call is a vishing attempt, in these smishing messages customer support representatives. just hang up the phone. No could install viruses or malware These voice calls use techniques on your mobile device to additional conversation is that can spoof the caller ID harvest personal information to make it look like the call needed. Hang up and block the from your phone. originates from a known number. number.

• Contact the company directly Along with smishing, vishing is • Caller ID can be faked - Do not also rising in popularity because – when in doubt, contact trust the caller ID number. This most individuals, when contacted the company directly using a number can be easily spoofed directly, fall victim to the scam phone number or website that to get you to answer the call artist pressure tactics over the you know to be legitimate and or text. All contact should be phone. verify the request was made. regarded as suspicious unless Here are eight tips to help • Place your number on the proven legitimate. protect yourself from falling National Do Not Call Registry – victim to Smishing and Vishing Adding your mobile number to These tips will go a long way to attacks! the Federal Trade Commission’s help you identify and know what (FTC) registry lets you opt-out to do when you get a smishing • Use common sense – Limit and vishing message. ■ of receiving unwanted calls. If the information you share on

Smishing is rising in popularity because most people trust a text message they receive on their mobile device over an email that arrived at their Inbox. Because of this trust, more people would respond to the text message they just received or click on the link that they were sent.

Partners — Spring 2022

42

3515 West Road East Lansing, MI 48823

CEO Retirement Announced...

With a 41-year dedicated career serving the Farm Credit System, Dave Armstrong, your president and CEO of GreenStone, has announced his retirement for mid-2022 Read more on page 19.