matters MEMBERSHIP
May 2016
Capital credits refunds coming in May! Money is coming back to members this May thanks to a nearly $4.8 million capital credits retirement approved by your Board of Directors! Checks begin mailing on May 6, so be sure to check your mailbox! Members qualifying for a $35 refund or more will be mailed a check separate from their electric bill.
reduce the need for loans, which helps keep your electricity rates lower. It also helps maintain a healthy balance between debt and equity to ensure Members qualifying for a refund of $35 or more will your cooperative’s financial health and stability.
receive a check in early May. Those qualifying for less will receive a credit on their electric bill received in May. Those qualifying for less will see it as a 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, Blue Ridge Electric doesn’t earn profits. Instead, any revenues remaining after all expenses have been paid each year are considered “margins.” Margins are allocated to members each year and reflect your equity (ownership) in the cooperative. After being used for a period of years as capital to help finance major reliability projects, these funds are returned to members. This helps
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The percentage of equity to be retired and refunded to members is determined annually by your Board of Directors based on your cooperative’s financial condition. This year, the percentage is three percent. Over the history of Blue Ridge Electric, more than $51 million has been returned to members.
4/11/16 11:58 AM