Wright-Hennepin Cooperative Electric Association Annual Meeting
This meeting marked the 85th anniversary of Wright-Hennepin's founding in 1937, themed "85 Years of the Cooperative Advantage." Key activities included the formal call to order by the Chairman of the Board, the appointment of legal counsel as parliamentarian, and discussions emphasizing democratic member control. The meeting covered the election of three director positions (Districts 4, 6, and 8), with voting conducted via mail ballots, electronic submission, or a potential voice/show of hands vote, as in-person voting was prohibited due to health concerns. The Chief Financial Officer presented the solid 2021 financial results, noting an unmodified audit opinion and strong operating results, which allowed for the refund of nearly $3.75 million in the 2021 general capital credit retirement and an additional $3.5 million special capital credit refund this month. Furthermore, the W-H holding businesses absorbed $1.3 million of electric business operating expenses, benefiting members via reduced electric rates.