Trustees Approve General Retirement of Capital Credits.
Petitions for nomination due Dec. 30 for trustee election 4 RIVERS ELECTRIC COOPERATIVE, INC.
At the October board meeting, your trustees approved a general retirement of capital credits totalling $724,186 allocated during 1995 and 1996, which will be credited on electric bills delivered in December. For those who are no longer a member of the cooperative, checks will be mailed. In addition, the board authorizes capital credits retirements for estates throughout the year, with an estimated total of nearly $300,000 expected to be retired for estates by year-end. Your board of trustees takes its responsibility to manage equity levels very seriously. As a cooperative, 4 Rivers relies on two main funding sources: debt and revenue from our members. Balancing these resources is one of the board’s core duties.
As of Dec. 1, election packets are available on our website or at any office for qualified members who wish to run for the board of trustees. Each year, a trustee position in each of the three districts opens for election. Completed petitions, along with signed affidavits, MUST BE SUBMITTED BY 5 P.M., DEC. 30, 2024, either at our headquarters in Lebo or at our Fredonia office. Early submission is recommended in case any issues arise. Candidates may also request a copy of the membership list for their district after signing a privacy affidavit; this list can help ensure only valid signatures are gathered on their petitions. The process to appear on the election ballot is identical for both incumbents and challengers. Candidates must gather at least 20 valid signatures from unique members within the district they wish to represent. To be eligible, a candidate must meet certain qualifications, which include being a member in good standing, a natural person (not a corporation), a resident within the district, and not working for or having immediate family employed by the cooperative. Additionally, candidates must not have been employed by the cooperative within the past three years or have any conflicting business interests. Trustee qualifications and duties are outlined in our bylaws at www.4riverselectric.com.
If you have questions about running for the board, please contact me or any of the trustees. Wishing you a safe and joyous holiday season. Merry Christmas!