BRED HEIFER/YOUTHFUL COWS/COW-CALF PAIRS GUIDELINES
- Bred heifers, young cows, or cow/calf pairs.
- Loan amount up to $250,000.00 per yard, upon approval.
- Loans exceeding $250,000.00 are available upon joint approval by Foothills Livestock Co-Op and our money lender.
- Minimum loan: 5 head or $5000.00.
- $200.00 lifetime non-refundable membership fee.
- Administration cost of $12.00 per head/per year.
- One time setup fee $125.00. (Security Agreement will be registered at Personal Property Registry)
- First year administration and Group Protection Plan costs may be written into loan amount.
- Choice of 3 or 5 year terms.
- No prepayment penalties.
- All cattle financed are to carry the Foothills Livestock Co-Op brand.
- All cattle financed are to be retained until after first calf crop is sold.
- A 15% pooled security deposit is required.
- A Floating (Prime + 1%), OR
- Fixed (Determined from time to time).
Yearly Fall Payment
- Due date is December 1st each year
Mandatory Group Protection Plan
- Accidental - premium is $3.50 per head per year OR
- Full Mortality - premium is 1.5% of the value of the cow per year.
- Deductible will apply.
- There is a dollar cap on purchasing bred heifers, cow/calf pairs, and youthful bred cows. The cap is reviewed from time to time.
- Members can purchase at Auction Marts or Private Treaty. (Private Treaty purchases require a Certified Brand Inspection payable by the Member)
- All cattle purchased are to be branded with Foothills Livestock Co-Op brand.
- All members are assigned a tag number by the Co-Op but not required to use it.
- CCIA tags can be used with member's numbers added to the tag.
- Notify the Co-Op prior to sale of livestock.
- Sales of calves or cows are to be manifested to Foothills Livestock Co-Op on account of the member.
- The yearly December 1, fall payment is payable at the time the calves are sold.
Cow/Calf Pairs Loans
These two loans are co-joined. The cow portion of the loan is an interest only payment for the first year with the first principal payment being made the following year. It is a 5 year term contract for the cow loan's principal payment but is actually 6 years when the interest only portion is factored in. The calf portion is due December 1st of the current year unless the calves are sold prior to the due date, then the calf portion is to be paid out at that time. If you wish to retain the calves at this time, the calves can be written onto a new feeder contract.
Cow/calf loan break down is as follows:
Cows - 75% of the financed amount
Calves - 25% of the financed amount