LINE OF CREDIT

3 Months Ended

Mar. 31, 2020

LINE OF CREDIT.

LINE OF CREDIT

NOTE 8 – LINE OF CREDIT

In 2018, the Cooperative established a $2,000,000 line of credit with a variable interest rate.  This line of credit has been extended to October 16, 2020.  The line of credit is secured by the investment management agency account for the Cooperative maintained by Bell Bank.  There is no outstanding balance as of March 31, 2020 or December 31, 2019.