Runestone Electric Association celebrates 76th annual meeting

Runestone Electric Association (REA) members and guests attended the cooperative’s 76th annual meeting. During the business meeting, Board President Audrey Hjelle and CEO Rick Banke gave reports on the activities and financial condition of the cooperative, as well as a proposed new office complex to be built adjoining the current Operations Center in Lake Mary Township.

The cooperative reported assets of $63 million with more than 13,600 accounts at the end of 2011.

Results from the board of directors’ election were announced at the meeting. Incumbent directors Barbara Johnson, District 2 and Bill O’Brien, District 5 were re-elected for three-year terms.

Additional speakers included outgoing Member Advisory Council Chairman Vern Lorsung and Great River Energy CEO David Saggau.

Lorsung recapped the activities of the Member Advisory Council and encouraged members to serve on the Council. Saggau discussed wholesale power costs and trends. Great River Energy is Runestone Electric’s wholesale power supplier. REA thanks Great River Energy for their $1,000

Operation Round Up

donation.

At an organizational meeting after the annual meeting, the following officers were elected: president – Audrey Hjelle; vice president – Bryan Withers; secretary – Barbara Johnson and treasurer – Bill O’Brien. Other directors include Ron Holm, Mike Johnson and Wilbur Burquest.

Runestone Electric Association is a Touchstone Energy cooperative, providing electricity and other services to more than 13,600 rural residents, farms and businesses in parts of the following counties: Douglas, Grant, Pope, Stevens, Otter Tail, Todd and Stearns.

Tags: business