Whether or not your equity ownership is returned to you and how much is returned is evaluated annually by the LCEC Board of Trustees. An annual return is dependent on the financial position of LCEC. There are certain mortgage clauses from our lenders that require LCEC to maintain minimum levels of specific financial ratios. When the Board approves a return, eligible current and former members receive an equity payout, also referred to as a retirement.
Retirements are paid 20 to 30 years after equity is allocated (credited) to a members’ equity ownership account. They are traditionally paid in the second half of the year in the form of a check or bill credit. Bill credits will apply to current members receiving a retirement of less than $250. All other current and former members who qualify for a retirement will receive a check.