First Milk unveils there initiatives, including a 13th payment

Business at First Milk continues to make positive steps forward and today the co-op has announced three member initiatives/changes.

1. Capital contribution targets will be frozen at members’ current level meaning members who want to expand will no longer be compelled to fund increased capital contributions.
2. The introduction of an annual 13th payment from April 2019. This 13th payment will commence from April 2019 at 0.25ppl and will be paid in April 2020 but adjusted accordingly to each member’s capital target.  For example, if a member has 100% of their capital target they will receive the full 0.25ppl.  If they are at 200% they will receive 0.5ppl (the maximum) conversely if they are 50% of target they will only receive 0.125ppl.
3. Transparent member share trading from December 2018 via the Asset Match platform, which will particularly benefit retired members and be free to use.