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Armstrong reflects on farm credit career 

The CEO of GreenStone Farm Credit Services plans to retire this summer after more than 40 years of serving Michigan’s farm credit sector. 

Dave Armstrong’s career in farm credit began in the early 1980s when interest rates exceeded 20 percent and farms struggled to stay afloat. 

“I was the one who often had to deliver bad news and be there with those families through that—that was probably one of the most difficult times in my career,” he shares.  

After extreme consolidation, Armstrong tells Brownfield by the 90s, the farmers who came through were stronger business managers, and technological and production advancements have continued to shape the growth of Michigan agriculture. 

“The tremendous increase in output, efficiency, and yield has been phenomenal,” he says. 

Armstrong says the pandemic brought another wave of crisis as the entire company became virtual overnight and staff worked relentlessly through nights and weekends to help customers navigate more than $230 million in Small Business Administration loans. He calls it one of his proudest moments.

“I’m just so glad that I hung through the pandemic to be a part of that, to witness the power of the GreenStone employee base and how committed they are to this industry and their customers,” he says.  

Armstrong has served as CEO for the past 12 years.