Lake Country Power members will see a special credit printed on their December billing statement after Lake Country Power’s board of directors authorized a retirement of just over $1.7 million in member equity. Capital credits are a core benefit of co-op membership.

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

“Capital credits are just one of the many benefits of membership that set co-ops apart from other types of utilities,” said Mark Bakk, LCP general manager. “Unlike for-profit companies, co-ops don’t operate to build shareholder wealth. Our goal is to provide members with electricity at a price that is as close to cost as possible, even as the ongoing supply chain issues and unprecedented material cost increases continue to impact us at the local level.”

Active members will see a credit on their December 2022 billing statement. Inactive members (those who have moved off the co-op system) will be mailed a check to their last known mailing address if the payment amount is $10 or greater.

Detailed information about the 2022 capital credit retirement will be available in LCP’s December member newsletter, Newsline.  

Between Lake Country Power and its three predecessor cooperatives, more than $67.2 million in capital credits have 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 www.lakecountrypower.coop.