How to notify changes in membership information

Further information about changes in membership

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  Transfer of membership investments

  

  Transfer of membership investments

  The participation shares and additional shares of Metsäliitto Cooperative can be transferred to another member of the Cooperative. Such a transfer is carried out following changes in forest ownership – for example, if a forest estate jointly owned by spouses is transferred to the widow, or if an estate’s forests are transferred to a forest partnership.

  To do this, complete the change form, indicating the shares to be transferred. If the recipient is not yet a member of Metsäliitto Cooperative, they must also apply for membership either electronically or by using the paper membership form.

  If the transferor is an estate, a copy of the estate inventory deed must be appended to the transfer of membership investments, indicating the acquisition of the shares. The forms, including appendices, can be submitted to our customer service.

  If ownership changes occur within a forest partnership (for example, if one of the partners gives up their ownership), only an update to the list of owners is required; no transfer is necessary.

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  Termination of membership

  

  Termination of membership

  If you wish to terminate your membership, please submit a written notification, signed by you, to our customer service. All rights based on membership (for example, the right to interest on members’ capital and access right to the Metsäverkko tax application) will terminate when we receive your informal notification.

  If the termination concerns a joint membership of spouses, a forest partnership or an estate, the notification must be signed by all the shareholders. In addition, an estate must include a copy of the estate inventory deed with the notification. If you terminate your membership, we will return your investment in the regular participation shares on an accelerated timetable, at the end of the following calendar month, unless prohibited by section 16 of the Rules.

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  Membership continues under the name of an undistributed estate

  

  Membership continues under the name of an undistributed estate

  If an individual member of Metsäliitto Cooperative passes away and the estate remains undistributed, membership in the Cooperative transfers to the estate and the member benefits continue automatically. For example, interest on the members’ capital will be paid in the normal way to the estate, so there is no need to terminate membership. However, it is important that the estate notifies us about the person handling matters for the estate and to ensure the contact information is up to date.

  Our customer service will provide, on request, a statement of accounts for the estate inventory. The statement indicates the shares invested in the Cooperative at the time of death. For the purpose of the estate inventory, you can also order an estimate from our forest specialist, which indicates the monetary value of the forest estate.

  If the shares in Metsäliitto Cooperative owned by the estate are to be transferred to one or more individuals, they must also become members of the Cooperative. After this, the transfer can be easily made using a transfer form available at our office closest to you or from customer service. If the transfer notification has been submitted by 31 March, the interest for the previous year will be paid to the new owner of the shares. We are pleased to assist anyone taking over a forest estate in all matters related to forest ownership and forest management.

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  The impact of right of possession on membership

  

  The impact of right of possession on membership

  For example, if right of possession of the forest estate has been withheld in connection with a generational handover, please notify our customer service. Our customer service will record an entry of the right of possession in our member registrar. We will need a copy of the title deed for this purpose. In practice, membership can only be granted to the holder of the right of possession, as the holder receives the profit from the forest estate.