Record Capital Credit Disbursement
Your board of directors recently approved a record return of capital credits from Lake Region Electric Cooperative to its member-owners. The amount to be disbursed from our distribution cooperative in 2019 is $1.35 million! This is also the first time our cooperative is receiving capital credits from the wholesale power supplier, Great River Energy (GRE). The GRE capital credits total $318,000, which we are also passing along to our members. This brings the total amount of disbursements to a whopping $1.67 million!
As a member of the electric cooperative, you share in its financial success.
Thanks for Sharing Your Thoughts
We recently conducted a survey of Lake Region Electric Cooperative members. We’ve found that conducting a survey is an important way to engage with our members. Our goal is to ascertain the unfiltered feelings and areas of concerns expressed by our cooperative’s member-owners.
As can be expected, the comments ran a full range of questions and comments. I want you to know that we read every comment. We also follow up on questions and areas of concern. Our goal is to provide the quality of service you deserve and expect — that is, for Lake Region to be the best local service provider possible.
I am extremely pleased to tell you that our member satisfaction score has increased again! It’s now at 8.9 on a scale of 1-10! This is up from 8.7 from our previous survey.
The survey results and comments will be used to help guide decisions and actions as we move into the new year. Thank you to those who participated.
Engaging with Our Members
It’s precisely because Lake Region is a locally owned cooperative that we seek out multiple ways to engage with our membership. Keep in mind that District Meetings will be held in February and our Annual Meeting in June. Yet, you don’t need to wait for these grassroots events to have your questions answered. Should you have a concern, please contact our office and we’ll respond in a timely fashion.
A Strong Finish
Overall, this has been a great year for Lake Region Electric Cooperative. We’ve had strong financial performance, a good safety record, improved reliability, and positive feedback on our various ventures.
We do, however, recognize that area farmers have struggled with several uphill battles this year—the main culprit being unfavorable weather. Please know that we keep our agriculture industry in our thoughts and recognize the hardships faced by this important segment of the cooperative membership.
Especially at this time of year, we at Lake Region express our deep gratitude and thanks to our member-owners. It’s been our sincere pleasure to serve you.