$9 million to be returned to Corn Belt Energy members this summer

[June 21, 2017]  BLOOMINGTON Over 1,400 cooperative members and their families attended Corn Belt Energy Corporation’s 79th Annual Meeting, which was held at Central Catholic High School in Bloomington on the afternoon of Friday, June 16. The theme for the meeting was “Solid foundation. Solid values. Solid future.” Attendees enjoyed complimentary lunch, music from the Bloomington-Normal Community Concert Band Windsong and Sunshine Bells ensembles, educational workshops, bucket truck rides, and several free activities for children.

During the business meeting, Board Chairman Rae F. Payne remarked on how prudent fiscal responsibility affords Corn Belt Energy the ability to do many things like reinvest in its infrastructure and maintenance program to improve reliability. It also allows Corn Belt Energy to do capital credit retirements. Capital credits are periodically returned to members as the financial condition of the Cooperative allows. It was formally announced that $9 million will be disbursed to members as retired capital credits starting in August. Nearly $40 million has been disbursed to members since the Cooperative was formed in 1938.

Corn Belt President/CEO Don Taylor, informed the group of the continued focus on providing reliable power to our members by highlighting work plan projects and ongoing vegetation management programs. In addition, he interviewed two employees that recently spent three weeks working in Bolivia with Cooperativa Rural de Electrificación (CRE), the Bolivian electric cooperative, bringing electricity to small villages that compare in size to one of our local subdivisions.

Bret Richards, Corn Belt Energy Construction Foreman, and Tim Baker, Corn Belt Energy Area Serviceman, worked with 10 other linemen from Illinois electric cooperatives to construct an electric distribution system supplying villages, schools and households. The trip was part of the National Rural Electric Cooperative Association’s International Program, organized by the Association of Illinois Electric Cooperatives.

The following Directors were elected to serve three-year terms: Rae F. Payne of Bloomington (District 1), Jerry Starkey of Le Roy (District 1), Dennis Fredrickson of Victoria (District 6), and Albert Hagenbuch of Utica (District 8).

After the meeting, the Directors organized and re-elected Rae F. Payne as Chairman, Charles Meisenheimer as Vice Chairman, Albert Hagenbuch as Secretary Treasurer, and Janice Reimer as Assistant Secretary Treasurer.

About Corn Belt Energy
Started in 1938 to bring electricity to rural Central Illinois, Corn Belt Energy Corporation now distributes electricity to over 35,000 households and businesses throughout 18 counties. One of the largest cooperatives in Illinois, Corn Belt Energy employs 85 people, maintains over 5,000 miles of line, and distributes electricity from the Wabash Valley Power Association, a generation and transmission cooperative based in Indiana. As a not-for-profit energy cooperative, Corn Belt Energy is owned by the members it serves and is committed to providing reliable, affordable energy. Governed by 13 directors who are themselves residential members, Corn Belt also supports energy efficiency, education, and safety initiatives. Learn more at www.cornbeltenergy.com.

[Hillary Cherry, CCC
Director of Communications
Corn Belt Energy Corporation]