I'm getting to that age when the next light in my eyes may not be a train coming so I thought I would check in to see when I could actually cash out my dividends from our local coop. Turns out its 70. Are you kidding me? I said to the chuckling lady on the other end that I thought we might be able to get them out while we could actually use them. With the same chuckle she said "Noooo" More B.S.
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But its tax paid money you will be receiving with 0% rate of return on those locked in dividends. Basically a 0% loan to the "Trust Company"...aka Federated Co-op.
We all hope to make it to 70 to personally get them.
Just think what affect inflation is having on those funds...lol.Last edited by farmaholic; Jan 9, 2019, 12:23. -
What kinda bugs me more than anything is I am alot closer to getting those dividends than I am to the time I "started" farming. I am twice as far from my farming start date than I am to receiving those dividends.Comment
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It made me wonder a few years back how many never get paid out. Here is the story. My mom and dad lived a long healthy life for the most part. There came a time when they wanted me to look after their financial affairs as it was getting to be just a worry for them to make sure everything was being looked after. So I did. The problem was that they still received their own mail so I never saw the statement coming from the co-op of their Dividends. They just looked at it then chucked it as they had been doing for years I guess. Then came the time they had to move into a home because they needed more care. That's when I discovered that they had never applied to get their Dividends out. I called the office and asked the same question. When can my 90 something dad withdraw their money. Ohhh they proclaimed. He can get them out immediately. So I did. Question. What would have happened if no one called. More B.S.Comment
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No Dirt is older than you hahahahaha
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Most of the soil organic matter in the Slum of the Ghetto is younger than me!Originally posted by SASKFARMER3 View PostComment
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K, here’s my joke of the day: bought co-op membership in 1969. At age 65 asked for equity. Said have to be 70. I said when I bot share was 65. They said no. Said let me see contract, had my copy of purchase. Co-op said no. Went to directors monthly meeting and explained. Showed them cooperatives provincial act saying members can see records anytime during business hours. Manager said no.
Provincial act says “ penalty for refusal is $5000 fine or month in jailâ€. They didn’t know that as I didn’t explain that to them. They sent me a letter signed refusing till I was 70 .
So, had em by short hairs, but I’m not gonna donthat to a neighbor, even though I really needed the money. Let it drop.Comment
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Unless you get lucky and your local coop is going to amalgamate with a bigger coop..then you get a total equity payout ..yay archerwill..Comment
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