Eligible Livestock
- FEEDER CATTLE - including steers, heifers, young feeder bulls (no breeding bulls), and cows that are fed in dry lot.
- Minimum loan amount $10,000.00.
- Maximum loan amount $250,000.00 per yard.
- Loans exceeding the maximum amount may be available upon joint approval by Foothills Livestock Co-Op and our money lender.
- Term of loan is 365 days.
- $200.00 lifetime non-refundable membership fee.
- $10.00 per head administration charges.
- $40.00 one time administration fee.
Interest Rates
- Floating - CIBC Prime Rate plus 1/2%
- No prepayment penalties.
Security
- 10% pooled security deposit required.
- Setup fee of $50.00 (Security Agreement will be registered at Personal Property Registry).
- All feeder cattle must be branded with Co-Op designated feeder brand (see Brands page).
- All private treaty sales must be free and clear. If cattle are held as security a bank release is required or a cheque for the cattle will be issued jointly to the member and the secured party.
- All private treaty sales must have certified brand inspection.
Group Protection Plan
- Only full mortality coverage available for feeder contracts.
- Premium is 1% of the value of the cattle.
- Deductible $1000 for accounts under $50,000.00 and 2% for accounts over $50,000.00.
- Co-Op must be notified within 24 hours of death and proof must be provided.
Sale of Cattle
- Feeder cattle must be manifested to Foothills Livestock Co-Op in account with the member
- Co-Op must be notified prior to sale of cattle.
Feedlot Agreement
- If cattle are fed in custom feedlot, member must have signed waiver with feedlot owner of feedlot agreement signed.
- Failure to notify the Co-Op before placement of cattle at feedlot will constitute default of all loans.
Tagging
- All members are assigned a tag number by the Co-Op. CCIA tags can be used with member's numbers added to the tag.
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