We have answered some questions about co-operatives, about IIF Coop membership and about using the IIF app. If you can’t find your question answered here, please send it to us via our contact form.
What is the IIF Coop?
Invest in Farming Co-operative Ltd (IIF Coop) is member owned. All active members can participate in share farming programs on the IIF app.
What is a Coop?
A co-operative is a democratic organisation, owned and controlled by its members for a common benefit.
Members of a cooperative can benefit from economies of scale through the combined purchasing, distribution or marketing power or influence of the group.
Do I need to be a member?
You must be an active member of the co-operative to leverage its services. In this case, access to a diverse range of share farming opportunities available on the IIF app.
How do I become a member?
You simply need to complete the online application form and pay the membership fee. We will confirm your membership by email.
Is there a fee?
Yes, there is an annual membership fee of $55 (including GST).
How does it work?
IIF Coop will source, screen and offer share farming opportunities to its members via the IIF app. As a member, you can elect to participate in any program that you are interested in, in the volumes you desire.
Once a member selects an opportunity, the member provides the funds to the IIF Coop by way of a member contribution (debenture). IIF Coop will then purchase the items on the member’s behalf and the item will be show in the member’s Farm on the IIF app.
The relevant farmers will use their best endeavours to farm the items on behalf of IIF (and the member). The farmers will provide updates during the growing period. An indicative holding period will be displayed, but the farmer will determine when the items are ready to sell and fetch the best price. IIF Coop will oversee this process and collect the proceeds upon settlement.
The profit (or loss) will then be determined and settled with the member.
Is there more information available?
Yes, you are entitled to request a copy of the Disclosure Statement, as approved by the Register, at any time. This document outlines the terms of the member contribution (debenture) and other relevant information.
Information about the farmer (location, history etc) is available on the IIF app, along with education, research and agricultural news.
What are the benefits of diversification?
One of the key benefits for the IIF model is the ability to build a farm spread across different products, producers and regions. This reduces the concentration and the risk. We encourage members to learn about and participate in a diverse range of opportunities.
Are there risks?
There are risks in farming and there are no certainties in the outcomes. The harvest yield, price and timing will be determined by an array of factors, especially weather and market conditions. There is a chance your farm product will be negatively impacted and not reach potential. In this case you may suffer a financial loss on that farm item.
Is IIF a managed fund?
No, this is not an investment product or managed investment scheme. With a managed fund, people typically invest in a fund and the manager of that fund chooses where to invest.
With the IIF Coop, we simply find farmers producing foods that we think our members would like to support. We provide the app that facilitates each opportunity. But each member is free to choose what product to purchase and members may profit from the outcomes of their selected programs. That’s it.
Is IIF a form of community supported agriculture?
The reason behind IIF is the same as the reason behind community supported agriculture (CSA). It is designed to connect the people who grow it with the people who eat it.
With CSA, supporters are paid with a share of the produce. With IIF, members are paid from the profit of sale of the produce.
Community supported agriculture generally only works for local farms – because investors need to collect their share of the year’s harvest.
With IIF, members will be able to support farms around the world – and get paid when these farmers send their produce to market.
How do I use the app?
Got a question?
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