matters MEMBERSHIP
A MONTHLY NEWSLETTER FROM BLUE RIDGE ELECTRIC MEMBERSHIP CORPORATION
May 2014
Capital credits refunds coming in May! Money is coming back to members this May thanks to a capital credits retirement approved by your board of directors!
Ridge Electric doesn’t earn profits. Instead, any revenues remaining after all expenses have been paid each year are considered “margins” The $4.4 million capital credits retirethat are returned to the memment represents one of the largest anbers after being used for a penual retirements back to members. riod of years as capital to help Those qualifying for a $35 refund or finance major long-term relimore will receive a check in the mail ability projects. This helps offset separate from their electric bill, while the need to borrow funds, therethose qualifying for less will see it as a by helping keep your electricity rates lower. It also helps Members qualifying for a capital cred- maintain a healthy balits refund of $35 or more will receive ance between debt and equity to ensure your a check delivered separately from cooperative’s financial their electric bill. Those qualifying for health and stability.
a refund of less than $35 will receive a credit on their electric bill that they receive in May. credit on their electric bill received in May. Those too new to the cooperative to qualify for a refund will build their account over time for future refunds. As a cooperative business, Blue
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Your capital credits refund is based on the amount of electricity you purchase. The more electric service you buy, the greater your capital credits account, although the percentage returned is the same for each member. Before they’re retired, capital credits are recorded as allocations on
the permanent financial records of the cooperative and reflect your equity or ownership in the cooperative. Each year, your board evaluates the return of a percentage of capital credits to members based on the cooperative’s financial condition. Over the history of Blue Ridge Electric, more than $44 million has been returned to members. Look for your capital credits check or bill credit this May. We’re pleased to be sending these funds and providing value to those who use our services: the members of Blue Ridge Electric!
4/9/14 10:52 AM