Pine Cone Press-Citizen | Longville, MN
weather sponsored by

Advanced Search
search sponsored by

Local News
Cass County News
Letters to the Editor
Reader Submissions
Community Links
School News
City Council Minutes
Legal Notices
Get Connected In Longville
Photo Gallery
Contact Us


home : local news : local news
January 27, 2020

12/6/2019 2:18:00 PM
Lake Country Power members benefit from retirement of capital credits

Lake Country Power members will see a credit printed on their December billing statement this month after Lake Country Power's board of directors authorized a retirement of $4.4 million in member equity. Capital credits are a core benefit of co-op membership.

"Unlike for-profit companies, co-ops don't operate to build shareholder wealth," said Greg Randa, LCP general manager. "Our goal is to provide member-owners with electricity at a price that is as close to cost as possible. Over time and when financial conditions allow, co-op margins are returned to members in the form of capital credits."

In a co-op capital credits build over time. The credits represent member ownership in a co-op. The equity from members is used to help fund system improvements and reduce the co-op's financing needs and debt burden.

Between Lake Country Power and its three predecessor cooperatives, more than $51 million in capital credits has been returned to members through the years. For more information about capital credits, or to review a current list of capital credits that remain unclaimed by former members, visit

Active members will see a credit on their December 2019 billing statement. Inactive members (those who've moved off the co-op system) will be mailed a check to their last known mailing address if the amount is $10 or greater.

Lake Country Power,, is a Touchstone Energy® cooperative serving parts of eight counties in northeastern Minnesota. The rural electric cooperative provides services to nearly 43,000 members and has offices located in Cohasset, Kettle River and Mountain Iron.

Article Comment Submission Form
Please feel free to submit your comments.

Article comments are not posted immediately to the Web site. Each submission must be approved by the Web site editor, who may edit content for appropriateness. There may be a delay of 24-48 hours for any submission while the web site editor reviews and approves it.

Note: All information on this form is required. Your telephone number is for our use only, and will not be attached to your comment.
Submit an Article Comment
First Name:
Last Name:
Anti-SPAM Passcode Click here to see a new mix of characters.
This is an anti-SPAM device. It is not case sensitive.

Hackensack Lumber
Stepping Stones
Woodland Insurance
Lott Excavating

Pine Cone Press-Citizen • PO Box 401 • Longville, MN 56655 • Phone: 218-363-2002

Software © 1998-2020 1up! Software, All Rights Reserved