Ontario Feeder Finance Cattle Co-op Program

The Feeder Finance Co-op Program in Ontario recently celebrated 15 years of success. The Program currently has Co-ops in most beef producing areas of the province and has about 750 members.

What is significant is the activity of the Program over the last 15 years. In this time, the program has supported over 2,500 producers who have borrowed over half a billion dollars to finance nearly 750,000 head of feeder cattle. The program now has 19 active Co-ops and maximum loan limits of $125,000.

Many young producers under the age of 35 have benefited from the program, and currently almost a quarter of the members were in this category. Some of the other features for the Program have been very attractive interest rates (thanks to a Provincial Government Loan Guarantee), simple application forms, no monthly charges, and loan payments only when cattle are sold. Given these features, Co-op members have benefited from enhanced net returns. Also, the mere presence of the Co-ops has provided negotiating power for all beef producers with respect to the financing of feeder cattle.

The success of the Feeder Finance Program has been due to diligent directors and the supervisors and administrators that they hire to manage the day-to-day activities of the Co-ops. Enhancements over the years include allowing 2 loans per producer, accommodating farm raised calves rolled into the program, and movement from mandatory branding to ear notching and tagging.

Today, representatives from all the Co-ops sit on a Feeder Finance Committee that continues to review and seek improvements to the program. To find out more about the Ontario Feeder Cattle Co-op Program and your local Co-op, check out Programs on the OCA website www.cattle.guelph.on.ca.

For further information: Cheryl Russwurm, Provincial Program Supervisor: (519) 367-5587; Jim Martin, Director, Ontario Cattlemen's Association: (705) 282-1508

Author:  

Email:    

Topic:    

Content:

Related Articles

• New Century Financial Corporation to Participate on a Panel at the Bear Stearns Mortgage Finance & Housing Markets Conference
  16 May 2006



• New Way To Beat Credit Card Debt Endorsed by CardRatings.com at The Learning Annex on May 22
  14 May 2006



• CitiBusiness(R) Credit Cards Announces New Cardmember Benefit: Free Prescription Discount Program
  14 May 2006



• Moneynet Warns Against Supermarkets Bid to Attract More Credit Card Users
  10 May 2006



• Credit Card Depot Reviews Gas Cashback Credit Cards
  10 May 2006



• Chase Credit Card Offer Updates on Credit Card Depot
  7 May 2006



• Jumbo Mortgage Loans are now Available with First Guarantee Mortgage Jumbo Home Refinance Loan Program
  5 May 2006



• New Affiliate Program Pays Big Earnings
  3 May 2006



• Westminster Savings Credit Union launches new Youth in Action Program
  1 May 2006



• Provident Financial Services, Inc. Announces Quarterly Earnings, Fourth Stock Repurchase Program and Declares Increased Quarterly Cash Dividend
  28 April 2006