Message for You...

Lumbee River EMC has begun its planning for its 80th Annual Meeting of the Members.  With social distancing and concern for virus transmission still driving many decisions and plans, this year’s annual meeting planning will encompass much more consideration and planning than years past.  Because entities like the University of North Carolina-Pembroke cannot commit at this time to the usual availability of their facilities, this year LREMC is making plans to utilize our Pembroke office facility.  Our focus is to develop a plan that would allow vehicle registration and voting so that social distancing can be promoted for our members and our employees. 

The planning is not without its challenges and will require changes to our normal process.  Experience tells us that vehicle registration takes more time than the registration required when done in person in a building.  For that reason, we anticipate more registration time will be necessary for all members to have the opportunity to participate in the process.  While still in the planning stage, scheduling multiple days for registration and voting are extremely likely.  Our 80th Annual Meeting of the Members will still occur in October 2020 with the actual dates and times to be announced.   As we continue to develop our plan and make decisions, we will ensure that we keep our membership is informed and answer any questions or concerns. 

One thing that normally occurs in October will actually occur in August this year.  Your Board of Directors approved an early retirement and distribution of $6,071,563 in capital credits this year.  This amount reflects remaining allocations from 1996, 1997, 1998, and a portion of 2019, as well as a reduction of two years in the current retirement cycle.  Strategically focused to reduce the retirement cycle to 20 years within the next 5 years, this first step will benefit our members in several ways.  Because of the struggles our members are having due to COVID-19, this decision at this time can provide additional relief to our members.  Looking beyond the immediate situation, reducing the retirement cycle from 24 to 22 years will increase the discounted dollars paid to estates.  Another benefit is our records show the longer the retirement cycle and the older the money, the more chance that those moneys will go unclaimed and ultimately be escheated to the State of North Carolina.  Earlier this year, the Board of Directors challenged the staff to investigate additional ways to return more capital credits to our members, both past and present.  I expect the staff to successfully meet that challenge.  Regardless of the challenges we encounter, LREMC remains committed to enhancing the quality of life for our members and communities.

Member Communication – April 1, 2020, 11:00 AM
UPDATE: NC Executive Order 124-March 31, 2020
Message from Your CEO - August 2020 SHunt_sign.png Carmen E. Dietrich, President & CEO