LREC Board Approves Record $1.86 Million Capital Credit Retirement
FRIDAY, DECEMBER 16, 2022
A combined retirement of $1.86 million in patronage capital credits was approved by your Board of Directors for 2022. The ability to retire capital credits is a sign of the cooperative’s financial strength. LREC has steadily increased the amount of capital credits retired over the last decade. This will be 10 consecutive years in which our capital credit retirement has exceeded one million dollars! Additionally, retirements received from other sources are passed through to our members. The retirements listed to the right will be dispersed to people and organizations that were members of Lake Region Electric Cooperative in the years listed for each source.
LREC is retiring $1.32 million in capital credits to members during the years of 2005 and 2006
We are retiring $527 thousand from Great River Energy, our power supplier, for the years of 1990–1993
We also have a retirement of $11 thousand from CFC (Cooperative Finance Corporation) for the year of 1997