Chop­tank Elec­tric to dis­trib­ute $1.75 mil­lion to mem­bers

Record Observer - - News -

DEN­TON — The Chop­tank Elec­tric Co­op­er­a­tive Board of Di­rec­tors voted to re­turn $1.75 mil­lion to its mem­bers dur­ing the month of De­cem­ber to long-time mem­bers who were part of the Co-op in 1992.

The amount re­ceived is based on how much elec­tric­ity the mem­ber pur­chased dur­ing the year. Any ac­tive mem­ber who has ac­crued cap­i­tal credits less than $75 will re­ceive the amount cred­ited di­rectly to their De­cem­ber bill. Ac­tive mem­bers who have ac­crued more than $75 in cap­i­tal credits will re­ceive a check in the mail. For any mem­ber who is in­ac­tive, you must ac­crue $75 be­fore a check is sent. In­ac­tive mem­bers must have a good ad­dress listed at the co-op to re­ceive their check. The checks are sched­uled to be mailed by mid-De­cem­ber.

“Since a co­op­er­a­tive has mem­bers, the cap­i­tal credits re­flect each mem­ber’s own­er­ship and con­tri­bu­tion of cap­i­tal to the co­op­er­a­tive. This dif­fers from in­vestorowned util­i­ties who pay div­i­dends to share­hold­ers. Th­ese share­hold­ers may or may not be cus­tomers of the util­ity,” said Olin Davis, chair­man of the Board of Di­rec­tors for Chop­tank Elec­tric Co­op­er­a­tive.

Chop­tank Elec­tric al­lo­cates and pe­ri­od­i­cally retires cap­i­tal credits to its mem­bers based on a va­ri­ety of fac­tors in­clud­ing the over­all fi­nan­cial con­di­tion of the Co­op­er­a­tive. “Al­lo­cat­ing and re­tir­ing cap­i­tal credits to mem­bers helps dis­tin­guish a co­op­er­a­tive from other busi­ness mod­els,” said Davis. “We’re proud to sup­port our lo­cal com­mu­ni­ties by putting money back into the pock­ets of our mem­bers and their economies. It makes our busi­ness model spe­cial.”

For more in­for­ma­tion on cap­i­tal credits, call the Mem­ber Ser­vice Cen­ter at 1-877892-0001, email cap­i­tal­cred­its@chop­tank­elec tric. coop, or go on­line to www. chop­tank­elec­tric.coop.

Chop­tank Elec­tric Co­op­er­a­tive Board of Di­rec­tors ap­prove $1.75 mil­lion in cap­i­tal credits for 2016.

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