Columbia Basin, Ephrata, WA | Headland - 4/26/2024 04:39
Not saying it is right or wrong but a lot of coops have done this. Anyone who is not actively farming has their stock converted into non-voting stock. The idea is that the people actively using the coop and supporting it are the ones that should be making the decisions. I think they should give you the option to redeem your shares before they convert it to non-voting. Since you have rented your ground on shares I assume you are still buying inputs and doing other business with the coop? If so I don't blame you for being upset. It might be a good idea to have a conversation with someone and explain your situation. Maybe someone was under the impression you rented the ground out and retired?
I have mixed feelings about share landlords being considered “active farmers.” Sure, the guy that retired at the end of 2022 and still cuts a check for fertilizer and calls to say when to sell crops feels active, but really, what’s his stake in the future of the coop? How about the family that still owns land on shares that’s been inherited twice already and now has fifty owners? Are they active farmers? Do they know how a coop should run? In twenty years when that parcel goes to the next generation, do you want the coop having to deal with the bookkeeping it takes to account for 150 new “active farmers” that have never darkened the door at the coop and never will, or possibly never set foot on their land? They’re still on shares, just like the recent retiree.
Edited by Big Ben 4/26/2024 09:30
|
coop got to big for me to vote
