Central Region Cooperative Credit Policy

Effective Date October 1, 2017

1.    An approved credit application should be completed and signed by all new account. 

2.    An inquiry may be made through the credit bureau to determine credit history. 

3.    The closing date of the billing cycle shall be the end of the month. All periodic statements will be mailed as soon as possible following the closing date of the billing cycle. 

4.    Payment is due in full by the 15th day of the month the statement is mailed

5.    Prompt Pay (Cash) discounts are available bulk fuels and bulk LP. All discounts are subject to change without notice. Prompt Pay (Cash) discounts are only available if payment is received by the 15th of the month following date of purchase. No discounts will be offered after the 15th. Account must be current to receive prompt pay discount. 

6.    A finance charge of 1.5 % per month or 18 % per year accrues against the outstanding past due balance on the 16th of the month. A minimum finance charge of one dollar ($1.00) will be assessed on past due accounts. 

7.    An account over 60 days old shall be considered delinquent and a collection procedure may begin, with all costs of collection being added to the patrons account to be considered indebtedness of the patron to the cooperative. 

8.    Central Region Cooperative has a first lien on any equity held by the applicant in the Central Region Coop or in either of the legacy coops.

9.   Management reserves the right to deny or limit extension of credit.

10.  Financing programs are available for most purchases. Please inquire to the divisional manager.