A MONTHLY NEWSLETTER FROM BLUE RIDGE ENERGY
matters MEMBERSHIP
May 2017
Capital credits refunds coming in May! Money is coming back to members this May thanks to a nearly $5 million capital credits retirement approved by your Board of Directors!
members. This helps reduce the need for loans, Checks begin mailing on May 5 so be sure to check your which helps keep your electricity rates mailbox! Members qualifying for a $35 or more refund lower. It also aids in maintaining a healthy will be mailed a check separate from their electric bill. balance between debt and equity to ensure your cooperative’s financial Members qualifying for a refund of $35 or more will health and stability.
receive a check in early May. Those qualifying for less will see it as a credit to their electric account in May. Those qualifying for less will see it as a credit to their electric account 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 Energy doesn’t earn profits. Instead, revenues remaining after all expenses have been paid each year are considered “margins.” Margins are allocated annually to members and reflect your equity (ownership) in the cooperative. After being used for a period of years as capital to assist in the financing of major reliability projects, these funds are returned to
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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 Energy, more than $57 million has been returned to members.
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