Lake Region Electric Cooperative (LREC) held its 79th annual meeting Thursday evening, June 2, 2016 at the Life Church, Fergus Falls, MN. Nearly 600 members and friends attended the meeting. In the District 9 election, incumbent Robert Shaw was elected over challenger Vernon Greenwaldt and incumbent directors Ken Hendrickx of District 3 and Joyce Valley of District 6 were elected by acclamation. LREC members voted “YES” to amend Article IV of the Articles of Incorporation to state “The highest amount of indebtedness to which the Cooperative shall at any time be subject shall be established by the Board of Directors through a duly enacted resolution.”
LREC board chair Charles Kvare spoke about “the co-op business model and the power of member ownership and control.” In his presentation, CEO Tim Thompson highlighted “the solid financial condition and forward looking financial management of the co-op. Thompson also addressed the co-ops record of capital credit retirements, rate stability, improved service reliability and the co-ops use of innovative thinking and new technology to improve member service.” CEO Thompson presented the recipient of the co-ops Power Lineman Veteran’s Scholarship to SPC Michael Harrington.
Sheldon Peterson, CEO of the National Rural Utilities Cooperative Finance Corporation (CFC), delivered the keynote address. Prior to the business meeting, Dean’s Country Market of Perham catered the meal and the Underwood Lion’s Club served grilled pork chops. Amanda Backstrom, wife of LREC Journeymen Line worker Kevin Backstrom presented a beautiful piano concert.
The LREC Board of Directors will hold a re-organizational meeting prior to the regular board meeting on June 30, 2016.
Lake Region Electric Cooperative is a member-owned, member-controlled electric utility serving more than 26,000 members in Otter Tail and Wilkin counties and portions of surrounding counties.