Finance
Financing For Today and Tomorrow
Since 1921, our patrons have grown this cooperative to what it is today, a financially strong cooperative. But times have changed and so have we.
Credit Policy
A net 30-day credit policy has been established by the Board of Directors. All product purchases are due 30 days from invoicing, and all spring inputs are due by June 30 of each year.
While we are happy to offer accounts to all qualified customers, we do ask that customers work within our credit terms. Credit is a privilege we extend to our customers. By working together, we can bring the greatest benefit to the cooperative and our producers.
Available Financing Options
Just as buying and selling in collective volumes was the primary necessity for our ‘founding farmers’; today’s growers need access to reasonable and farm-friendly financing. Input dollars are vital for staying competitive. We understand that each farming operation is unique. We are here to provide individualized financing options for each and every operation.
Financing Options
Crop Input Loan Program
Our unique Crop Input Loan program is a little like having your own ag shopping cart, ready to fill with the inputs you need for profitable production.
Use it for prepaid inputs bought pre-season, or products and services as you need them in-season. Pay your loan back as you market your crop, or access your main credit line and pay for the entire season with one check.
Simple application, automatic paying of monthly statements, and frequent updates on loan status—we’re all about making our programs as convenient and as favorable as possible for our borrowers.
Applications are available from any Elburn Cooperative location, sales agronomists, or our Finance and Credit Department at (815) 899-8964. Or e-mail our Finance Department.
Fall Fertilizer Loan Program
The Fall Fertilizer Loan Program offers a competitive interest rate for fall fertilizer purchases.
- Customers to finance the product contracted with a 25% down payment
- Remaining balance of the crop inputs are due January 5, 2012.
Operating Line of Credit
Elburn Cooperative funded and managed, this program offers competitive interest rates for most farm operating expenses.
- Efficient application and approval process
- Competitive interest rate
- 1st security lien in crops required
- Ensures all available cash discounts on Elburn purchases
DuPont/TruChoice Financing Program
The TruChoice® Opportunity Program allows customers to defer payment for purchases of DuPont approved crop protection products at favorable interest rates.
Please contact your local agronomy representative for more details
Patronage
Sycamore, IL – Based on the Elburn Cooperative Company’s 2011 performance - a record total revenues of nearly 250 million dollars - the board of directors has declared a patronage refund totaling 293,792 with a 40% cash payout.
Rates and calculations for the payout are:
- Grain Storage charges - 5%
- Liquid fertilizer - $3 per ton
- Dry Fertilizer - $4 per ton
The board has approved the pass through to the grain patrons a portion of the domestic production tax deduction earned this tax year. Based on the grain bushels you marketed through Elburn Cooperative Company, you will receive a portion of the $900,000 of tax deduction available for patron distribution
Total cash payments to the members of the cooperative totaled $174,039 for the year ending June 30, 2011. The company invested on capital improvements totaling $5,956,711 for the year for grain bins, trucks, applicators, other equipment and facilities to help us more effectively provide the services you request. The improvements the company is currently undertaking include a new bin at the Newark facility, an additional fuel truck has been added to the fleet as well two fertilizer applicators. We see these additions allowing us to increase our ability to meet your service needs.
About Elburn Cooperative Company
Elburn Cooperative Company is a premier agricultural-based company in the Midwest, dedicated to providing innovative services and quality products that help customers and communities succeed. The company progressively focuses on the present and future needs of customers, while remaining committed to community values.