Wisconsin Farmers Union (WFU), while disappointed in recent votes by the
Assembly and Senate to pass the proposed cooperative statutes changes,
pledges to inform and educate cooperative members on what this means for
their co-ops in the future.
“The changes proposed in AB353 and SB281 create significant concerns for
cooperative members. Turning over board seats to outside investors, losing
the right to review certain records beyond five years, and, in the case of
cooperative holding company Cooperative Resources International (CRI) and
its constituent co-ops AgSource and Genex, basing voting power on patronage
rather than ‘one member, one vote’ – these are just a few of the
alterations to our cooperative statutes Farmers Union disagrees with,” said
WFU president Darin Von Ruden. “Cooperative members need to be vigilant and
mindful of these changes and what they can mean for their co-op in the
future.”
One key change that goes into place immediately after Gov. Walker signs
these bills pertains to member access to cooperative records. Under the
changes, cooperative boards may deny records requests if the purpose is not
specific to the member’s interest in the cooperative or is otherwise
contrary to the interest of the cooperative. In regard to financial records
only, the bill establishes a timeframe of five years plus the current
fiscal year for requesting financial records. The board can authorize more
than the limited time set forth in the bill, and co-ops can keep records
for longer periods of time.
“Changes like this affect all cooperative members, and we believe it is
important they are informed and educated about the change,” said Von Ruden.
“Education is a key part of the work we do at Farmers Union, and sharing
that information will be a top priority as we move forward. As our county
chapter meetings continue throughout the rest of 2017, we will share this
information with our members, who will hopefully spread the word to their
fellow cooperative member-owners.”
For more information about the Cooperative Statute Modernization Bills, go
to www.wisconsinfarmersunion.com and read Farmers Union’s blog posts, news
releases, and information sheet under the “Legislation” tab.
*Wisconsin Farmers Union is a member-driven organization that is committed
to enhancing the quality of life for family farmers, rural communities, and
all people through educational opportunities, cooperative endeavors, and
civic engagement.*