8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

December 22, 2006

Date of report (Date of earliest event reported)

NEW ULM TELECOM, INC.

(Exact name of registrant as specified in its charter)

Minnesota	0-3024	41-0440990
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

27 North Minnesota Street

New Ulm, MN 56073

(Address of principal executive offices, including zip code)

(507) 354-4111

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2):

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.02 Termination of a Material Definitive Agreement

On December 22, 2006, New Ulm Telecom, Inc. paid the remaining principal amount due on its loans to CoBank, ACB, including all accrued interest and associated expenses, in the aggregate amount of $7.52 million pursuant to the terms of a Payoff Statement from CoBank, ACB. A copy of the Payoff Statement is attached hereto as Exhibit 10.1 and is hereby incorporated by reference. The Company had previously paid down the balance on its $25 million secured ten-year reducing credit facilities with CoBank, ACB, by approximately $5.25 million to bring the total borrowings under the credit facilities to approximately $7.75 million at October 31, 2006.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

10.1 Payoff Statement for indebtedness with CoBank, ACB.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	New Ulm Telecom, Inc.
Date:   December 27, 2006	By:	/s/   Nancy Blankenhagen
		Nancy Blankenhagen Chief Financial Officer

EX-10.1

EXHIBIT 10-1

Fax Information
December 22, 2006	No. of Pages
To:	From
Co.:	Co.	CoBank
Fax #:	Phone #	1-800-255-6190

	Payoff Statement
Calculation Date:   December 22, 2006	Payoff Date:   December 22, 2006	Relationship Manager ROGER OPP
ULM TELECOM		00013301

Agreement #	Obligation Number	Principal Balance		Accrued Interest		Basis	Interest Rate		Per Diem		Prepayment Penalties
ML0788T2	001282354	$	7,500,000.00	$	16,182.32	360		6.9600%	$	1,450.00
Total:		$	7,500,000.00	$	16,182.32				$	1,450.00	$	0.00

Summary

Principal Due:	$	7,500,000.00	ACH Customer
Accrued Int to today:	$	16,182.32
Interest to Payoff Date:	$	0.00	Yes                                        No
Prepayment Penalty: **	$	0.00
Cash Manager Fees (Current Month)
Cash Manager Fees (Prior Month Due)
Unadvanced Commitment Fee	$	3,864.58
Wire Fees	$	16.00
Total Due: December 22, 2006	$	7,520,062.90	Total Per Diem	$	1,450.00
NOTE:   This payoff quote is valid only through the payoff date shown above. Furthermore, to the extent that you continue to use CoBank Cash Manager services, additional fees may apply.
** Prepayment penalties noted on this payoff statement are valid for the calculation date only, and will have to be recalculated if collected funds are not received on the date of calculation.
For questions, please contact CoBank Customer Service at 1-800-255-6190. Our regular business hours are 6:30 a.m. to 4:00 p.m. Mountain Time. Funds must be received by 4:00 p.m. Mountain Time for same day credit.