MEMBERS' EQUITY	12 Months Ended
Oct. 31, 2019
MEMBERS' EQUITY
MEMBERS' EQUITY	10. MEMBERS’ EQUITY Granite Falls Energy GFE has one class of membership units. The units have no par value and have identical rights, obligations and privileges. Income and losses are allocated to all members based upon their respective percentage of units held. As of October 31, 2019, 2018, and 2017, GFE had 30,606 membership units authorized, issued, and outstanding, respectively. In December 2018, GFE’s Board of Governors declared a cash distribution of $40 per unit or approximately $1,224,000 for GFE unit holders of record as of December 20, 2018 and was paid by GFE in January 2019. In December 2017, GFE’s Board of Governors declared a cash distribution of $385 per unit or approximately $11,783,000 for GFE unit holders of record as of December 21, 2017 and was paid by GFE in January 2018. Heron Lake BioEnergy On December 21, 2017, HLBE’s board of governors declared a distribution of $0.11 per membership unit for a total of approximately $8,573,000 to be paid to members of record as of December 21, 2017. The distribution was paid in January 2018. Based on the covenants contained in HLBE’s lender’s credit facilities, the foregoing distribution was approved by its lender prior to distribution.

10. MEMBERS’ EQUITY

Granite Falls Energy

GFE has one class of membership units. The units have no par value and have identical rights, obligations and privileges. Income and losses are allocated to all members based upon their respective percentage of units held. As of October 31, 2019, 2018, and 2017, GFE had 30,606 membership units authorized, issued, and outstanding, respectively.

In December 2018, GFE’s Board of Governors declared a cash distribution of $40 per unit or approximately $1,224,000 for GFE unit holders of record as of December 20, 2018 and was paid by GFE in January 2019.

In December 2017, GFE’s Board of Governors declared a cash distribution of $385 per unit or approximately $11,783,000 for GFE unit holders of record as of December 21, 2017 and was paid by GFE in January 2018.

Heron Lake BioEnergy

On December 21, 2017, HLBE’s board of governors declared a distribution of $0.11 per membership unit for a total of approximately $8,573,000 to be paid to members of record as of December 21, 2017. The distribution was paid in January 2018. Based on the covenants contained in HLBE’s lender’s credit facilities, the foregoing distribution was approved by its lender prior to distribution.