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 $2.5 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. Before returning the margins back to members, electric cooperatives use the capital to help offset the cost of debt for equipment and materials used for the construction and maintenance of the electric distribution system. This helps lower financing needs. “We are not-for-profit, but we are required by our lender, the federal government, to make a margin, and maintain safe, reliable electric service for member-owners,” said Mark Bakk, general manager at Lake Country Power. “Our goal is to provide member- owners with electricity at a price that is as close to cost as possible. Over time co-op margins are returned to members in the form of capital credits.”
Active members will see a credit on their December 2025 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 2025 capital credit retirement will be available in LCP’s December member newsletter, Newsline.
Between Lake Country Power and its three predecessor cooperatives, more than $76 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.
Lake Country Power, www.lakecountrypower. coop, is a Touchstone Energy cooperative serving parts of eight counties in northeastern Minnesota. The rural electric cooperative provides services to more than 44,000 members and has offices located in Cohasset, Kettle River and Mountain Iron.
