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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 determined 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 

A security deposit equal to 15% of the approved loan amount shall be paid before any funds are advanced. Where, in the Board’s discretion, the assessed risk associated with a loan or Member is considered to be elevated or otherwise warrants additional security, the Board reserves the right to require a security deposit greater than 15% of the approved loan amount. The amount of any additional security deposit shall be determined by the Board based on its assessment of the applicable risk and shall be a condition of the approval or advancement of funds.

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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.

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