Alberta's largest cattle industry lender to restart loan program after province lifts order

Joel Dryden · CBC News

· Posted: May 23, 2025 7:10 PM EDT | Last Updated: 9 hours ago

The Alberta authorities says loans volition resume astatine Picture Butte Feeder Cooperative, the province's largest cattle financing co-op, present that it's compliant with the rules connected feeder associations.

The PBFC is portion of the province's Feeders Association Loan Guarantee (FALG) Program, which helps livestock producers get easier entree to loans. 

Earlier this year, then-minister of Agriculture and Irrigation, RJ Sigurdson, signed an bid that stated the state would prohibit the co-op from issuing further advances to its members nether the program. An inspection had alleged a fig of regulatory and fiscal mismanagement issues. 

The full board subsequently resigned, and a restructuring officer, Alvarez & Marsal, was appointed to oversee PBFC's operations and enactment toward lifting the indebtedness suspension.

The bid was rescinded connected May 1, according to the province.

"The co-operative, moving nether Alvarez and Marsal Canada's dependable management, has brought its operations into compliance with the rules governing feeder associations. It is now compliant with the rules connected feeder associations and is being operated soundly," reads a connection from the Office of the Minister of Agriculture and Irrigation.

"On Monday, May 26, producers tin confidently use for and person loans from the PBFC arsenic it resumes afloat operations.

"The authorities volition proceed to supply oversight of and proposal to the PBFC — and different feeder co-operatives — to guarantee the Feeder Associations Loan Guarantee Program continues with its success."

An 'exceptionally trying time'

The Feeder Association of Alberta, the provincial umbrella organization, said the past fewer months person been "an exceptionally trying clip for the galore members of PBFC that person had their operations enactment connected clasp done nary responsibility of their own."

"We admit the gait of concern has nary sympathy for interruptions and admit the precise pugnacious fiscal presumption members were placed in," the enactment wrote successful a merchandise issued Thursday.

George L'Heureux, a spokesperson for the Feeder Association of Alberta, said it volition beryllium "business arsenic usual" starting Monday morning, with mean lending scheduled that day.

"For the producers, boots connected the ground, it's been precise challenging … waiting and not knowing is huge, and not being capable to bash concern arsenic accustomed was rather a hardship connected rather a few," helium said.

The co-op volition inactive beryllium tally by the receiver for the clip being. According to Alvarez & Marsal, a caller section supervisor, Cody McBride, has been appointed.

Efforts are underway to tally a just and transparent predetermination to appoint a caller committee of directors, the receiver added. 

The co-operative is based successful "Feedlot Alley," located successful confederate Alberta.