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RESCO gives Hastings a multi-year capital-credit return; board hears details of membership benefits
Summary
A RESCO representative told the advisory board that Hastings Utilities will receive cash and capital-credit retirements tied to prior purchases of transformers and other equipment, totaling roughly $508,000 since 2019 on a $500 membership share, and described how the cooperative returns patronage to members.
A representative of RESCO told the Hastings Utility Advisory Board that the cooperative recently retired and paid capital credits to members and that Hastings Utilities will receive a series of cash payments and capital-credit retirements tied to prior equipment purchases.
Dave (RESCO representative) described the cooperative’s background and the recent board decision to accelerate capital-credit…
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