August 6, 2021
The Board has again adopted a capital credit discount offer under which the Cooperative will pay to each present and former member, at your choice, the present worth or discounted present value (discounted amount) of the member’s capital credit account for the years of 1993 to 2020, inclusive.
Your capital credit account balance for the period ending December 31st, 2020 is $XXXXX. Under the capital credit discount offer, you are hereby offered the sum of $XXXXX, (less any uncollectable balances) as the discounted amount of your capital credit account balance. If you choose to receive the discounted amount of your capital credit account now rather than waiting for future possible rotation periods, then follow the directions below.
IN ORDER TO ACCEPT THIS OFFER, YOU MUST SIGN AND RETURN THE ACCEPTANCE FORM ATTACHED TO THIS LETTER. IF YOU ELECT TO PARTICPATE IN THIS CAPITAL CREDIT DISCOUNT OFFER, YOUR ACCEPTANCE FORM MUST BE RECEIVED IN OUR HAVRE OR BIG TIMBER OFFICE NO LATER THAN 5PM ON OCTOBER 8, 2021.
If you elect to participate in the capital credits discount offer, you will not receive any further refunds of capital credits that were allocated to you for the specified years between 1993 and 2020.
If you choose not to participate in this capital credit discount offer; no action is required on your part, your capital credit account balance for the years 1993 to 2020 will remain unchanged, and you will remain eligible to receive future credit refunds when approved by the board.
If you had service in 1992, we are also doing a general retirement for just 1992. If you are participating in the discounted offer, you will receive the 1992 amount included with the discounted offer check. If you do not choose to participate in the discounted offer, a standalone check for the 1992 general retirement will be sent to you. Checks will be mailed on or before December 31st, 2021.