CEO Comments:
Welcome to 2020 I HOPE THIS ISSUE OF PARTNERS FINDS YOU RESTED AND RELAXED FROM THE HOLIDAYS WITH ALL YOUR CROPS FINALLY IN THE BIN! OF COURSE, I’M NOT NAÏVE ENOUGH TO BELIEVE THAT THE ENTIRE 2019 CROP IS HARVESTED, AND REALIZE SOME HAS ALREADY BEEN LOST FOR THE SEASON. HOWEVER, IT’S A NEW YEAR AND HOPE SPRINGS ETERNAL IN ALL OF US EVEN THOUGH IT‘S HARD TO FEEL UPBEAT WHEN OUR PLANS, HOPES, DREAMS, AND HARD WORK DO NOT PRODUCE THE RESULTS INTENDED. Yet, just the fact we live in the greatest country on earth (despite its challenges) means we have more than the vast majority of the world’s population. No matter how 2019 may have turned out for you and your farm business, we are all blessed and need to be grateful for what we have! Very few of us ever go without the things we really NEED (i.e. food, shelter, clothing, family and friends, excellent medical care, etc.). Yet, we define our sense of self-worth and happiness by the things we WANT, none of which will truly make us happy long term (i.e. more money, a bigger home, nicer car, more land, larger equipment, etc.). One thing is certain, we have picked an industry for our livelihoods that abounds in challenges, which will only accelerate in the future. If we do not have a solid personal foundation that consists of what is truly important in life, the “ride” will never be worth it. Last year is in the rear-view mirror and in just a short two
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Winter 2020 — Partners
to three months it will be the start of the new growing season again! While many of our members did not achieve their original business plan projections for 2019, I am pleased to report your cooperative had a successful year achieving nearly all of its business goals. Loan growth ended the year at 8.6 percent, contributing to record net earnings of just over $200 million. For GreenStone, net earnings is the result of strong non-interest income, lower than expected loan loss provisions, very manageable credit quality, and solid expense management. Put simply – it’s the addition of new members doing business with GreenStone, farmers who have successfully adjusted their farm to weather the economic and environmental challenges, and staff conscious of being fiscally responsible and accountable with the spending of our owners’ (members) money.