Valley City Times-Record

Cass County Electric board of directors approves $4.5 million in capital credit retirement­s!


Courtesy of Cass County Electric

FARGO, N.D. — Cass County Electric Cooperativ­e is excited to announce that we will be returning $4.5 million in capital credits to our members in response to our upcoming capital credit retirement.

Cass County Electric Cooperativ­e is a not-forprofit organizati­on, meaning we operate at cost. Any excess revenues, or margins, are allocated to our member-owners in the form of capital credits. Since its inception, Cass County Electric Cooperativ­e has returned nearly $31.5 million in capital credits to member-owners.

In March, active members who purchased power in 2001 and 2002 will see a capital credit retirement (payout) applied to their bill. Inactive members with current addresses on file will receive a check by mail.

"As a not-for-profit cooperativ­e, capital credits are paid out to the cooperativ­e's member-owners to recognize one of many benefits of being a member," commented Cass County Electric President/ CEO Marshal Albright.

How does the capital credit process work?

1. Cass County Electric Cooperativ­e keeps track of how much electricit­y members buy and how much money they pay for it throughout the year.

2. At the end of each year, we calculate our annual margin (excess revenue). But because Cass County Electric is a cooperativ­e, we divide this margin proportion­ally by the amount of electricit­y each Member uses throughout the year and report to our members what their share is.

3. When Cass County Electric Cooperativ­e's financial condition permits, the board of directors decides to retire, or pay, the capital credits for previous years.

Cass County Electric Cooperativ­e reminds members to provide an updated

forwarding address to the cooperativ­e to ensure that we have valid addresses to send the capital credits. Please visit www.CassCounty­ to see if you know anyone who has capital credits waiting for them.

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