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Cosun successfully introduces members' loan programme

6 July 2015
The first registration for the Cosun members' loan programme raised more than €14 million. Roughly ten percent of all members who received a payment under the sugar beet delivery/business termination regulations (UB/BBU) in 2015 applied to the programme. Nearly half of the total amount was reserved for deposits, with a duration of four and five years.

Ms Tine van de Werken, chief financial officer at Royal Cosun, is pleased with the results. 'This is a new product, which means we'll have to wait and see how our members respond to it. They each make their own decisions based on their specific situation and plans. As such, we have no influence over it. Fourteen million euros is an excellent result, especially for the first attempt, and reflects our members' faith in the cooperation.'

The programme will be open to all members in 2016, as a share of the beet payments can be transferred to deposits. Members will be notified as soon as possible to give them time to make a decision before the final settlement of the 2015 campaign is published. Members who are eligible for a UB/BBU grant in 2016 can also choose to invest in the spring of 2016.