2014 Annual Report and Meeting

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Our 2014 Annual Report is now available online.  Please join us for our Annual Meeting tomorrow, Friday, October 3, 2014 at the Lake of the Woods School.  Meeting registration and dinner opens at 5 pm and the meeting will begin at 6 pm.  Come and enjoy a delicious turkey dinner, while “Sloughgrass” plays for your enjoyment until the meeting begins.  Hope to see you there!

October 3rd Annual Meeting

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Mark your calendars – the North Star Annual Meeting is next Friday, October 3rd at the Lake of the Woods School. Both registration and dinner begin at 5 pm. The meeting will begin at 6 pm. Hope to see you there!

Capital Credit Retirement

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We paid just more than $600,000 of capital credits this month. If you have an active account, there was a credit on your September bill. Inactive accounts will still receive a check, but to save money, active members are getting a bill credit.

The difference between a cooperative, like North Star Electric Cooperative, and other utilities is that we are nonprofit, meaning any money left after the bills are paid is returned to the member. These “margins” are assigned to members based on their usage and are retained for a period of time to help fund system improvements and provide equity needed to secure long-term debt. North Star has returned about $10.6 million of capital credits over the years, which is about half of the total capital credits. We are committed to demonstrating the advantages of being a cooperative member. Thank you for your patronage and support.