Earning Patronage. It's a Plus.
As a co-operative we share annual profits with our members. Members who have purchased a $5.00 member share are eligible to earn patronage based on their annual purchase.
Learn More About Patronage
What is patronage?
Patronage is the Members' share of UFA's earnings.
WHO CAN EARN PATRONAGE FROM UFA?
UFA members who have purchased a $5 member share are eligible to earn a patronage dividend based on their purchases.
When is patronage paid?
At the annual general meeting or a special meeting of the assembly, the board of directors and member-elected delegates may declare a patronage dividend.
How is patronage paid?
Patronage are paid based on member purchases in the previous year. After a patronage dividend is declared at the AGM, payment is issued in April.
40% of patronage dividends are paid to members in cash. The rest is issued as member share equity. Member share equity represents the member's ownership in the co-operative. Statement of Equity and Patronage Dividend Statements are available through myUFA. Members are also encouraged to sign up for direct deposit.
How much patronage can I earn?
There is no limit on how much you can earn. And, once a member has earned $30,000 worth of member share equity, 100% of subsequent patronage is paid in cash.
How can I view my patronage?
Members can access and view all their account information and so much more on myUFA.
Visit myUFA to sign-in or register for online benefits including:
- Email notification when your statement is ready;
- View account balances and payment history;
- View and print detailed purchase reports, invoices and statements;
- View your Statement of Equity, Patronage Dividend Statement and investments;
- Link multiple accounts and share account information; and
- Update your account details and contact information.
Your Co-operative, Your Equity.
Member equity refers to the investment you have made in UFA. This investment is made up of membership shares, and investment shares that you have earned through your purchases.
When patronage is declared, 40% is allocated to cash and 60% is allocated to member shares. Member share equity represents member's ownership in the co-operative and is used to finance the business.
LEARN MORE ABOUT EQUITY
WHAT ARE INVESTMENT SHARES?
Members who earned investment shares prior to 2020 earn interest equal to the bank prime rate less 0.5 percentage points. Investment share equity can be redeemed at any time.
WHEN CAN MEMBER SHARES BE WITHDRAWN?
Members can withdraw member share equity when they meet one of the following criteria:
- Moving out of UFA's trading area;
- Reaching age 70;
- Winding down your corporation or individual operation;
- The farm or ranch corporate principals all reach the age of 70;
- Bankruptcy; or
- Upon death, the equity is then paid to the member's estate.
WHY IS THERE A CAP ON MEMBER SHARES?
Once a member has earned $30,000 worth of member share equity, 100 per cent of subsequent patronage is paid in cash.
HOW DO I REQUEST A WITHDRAWAL OF MEMBER SHARE EQUITY OR INVESTMENT SHARE EQUITY?
The forms to withdraw equity are available online at myUFA.
Members can email Customer.Support@UFA.com or call UFA's customer support team at 1 (877) 258-4500 to request a withdrawal and get questions answered.
HOW CAN I VIEW MY MEMBER EQUITY?
Members can access and manage all of their account information and access forms online.
Visit myUFA to sign-in or register for online benefits including:
- Email notification when your statement is ready;
- View account balances and payment history;
- View and print detailed purchase reports, invoices and statements;
- View your Statement of Equity, Patronage Dividend Statement and investments;
- Link multiple accounts and share account information; and
- Update your account details and contact information.
Member Equity Forms
Direct Deposit Form
Account reinstatement Form
Full Withdrawal Equity Account Closure
Account Name Change
Partial Withdrawal of Equity
Account Equity Transfer or Combine Application
If you still have questions, please email us at Customer.Support@UFA.com or call the customer support team at 1 (877) 258- 4500 and select option 1.
Discover the pluses of membership. Join today!
UFA is proudly owned by over 110,000+ members across Western Canada. As a co-operative you can become a member and enjoy many benefits of membership.
Membership is open to any individual, co-operative association, or partnership and corporations carrying on the business of farming or ranching. And, it's easy to become a member and start getting the benefits of being part of our co-operative.
You can easily apply for your membership online by clicking below.