LINE OF CREDIT

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

LINE OF CREDIT

NOTE 8 – LINE OF CREDIT

The Cooperative has a $2,000,000 line of credit with a variable interest rate based on Prime minus 0.5%, which was 8.00% as of March 31, 2024. This line of credit matures on October 16, 2024. The line of credit is secured by the investment management agency account for the Cooperative maintained by Bell Bank. There was no outstanding balance as of March 31, 2024 or December 31, 2023.