MEMBERSHIP

Eligibility 

• Open to Individuals, Joint Members, Partnerships, Joint Ventures and Corporations

• Must be a farmer or rancher engaged in the business of raising livestock

• Applicants must over the age of 18

• Must own or lease land in Alberta

• Must reside in the trading area of the Co-op as destermined by the Board of Directors. 

• A one time membership fee of $150.00 is required before a loan can be advanced.

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Membership application must be completed and returned to the Chinook Breeder Co-op office for approval by the

Board of Directors.

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​Personal Property Search

• ​A Personal Property Search will be done to determine who else may have security registered on livestock or “all proceeds and after acquired property” (ALLPAP). In the case where these type of registrations appear, a Priority Agreement must be signed by the affected lender giving us priority over cattle branded with our brand. A Credit Check may also be done. A Personal Property Registration will be filed on behalf of the Chinook Breeder Co-op in favor of cattle branded with our brand. The costs incurred for this will be added to the initial loan advance.

• The Supervisor will visit your site to insure that the facility, fencing, and feed are adequate for the livestock being financed. 

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Security Deposit 

Pooled Security Deposit in the amount of 15% of the outstanding loan amount must be on deposit with the Co-op, prior to the loan being advanced. When all loans have been paid out, the member may withdraw any or all of his/her security deposit provided a 3 month period has passed since the last loan was paid out, or the withdrawal has been approved by the Board of Directors. This is conditional to there being no delinquent accounts within the Co-op.

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Fees

All fees will be reviewed annually by the Board of Directors, and refer to the current Rate Sheet for our current rates on fees, interest rates & per head limits.