THE MESSENGER A Publication for North Arkansas Electric Cooperative Members
NAEC returning $5.1 million in capital credits to members
From the CEO
North Arkansas Electric Cooperative will return $5,149,337 in capital credits to members in December. This will mark the largest capital credits retirement in NAEC’s history and bring the total returned to members to more than $36 million since the co-op’s founding in 1939.
What are capital credits?
NAEC is owned by the members we serve. At the end of each year, the coop subtracts operating expenses from the amount of money earned through rates. The remaining balance is called margins. The margins left over at the end of the year are allocated, or assigned, to each member’s account based on the member’s electric usage. In the spring, each member receives a capital credit certificate detailing how much of the previous year’s margins was allocated to their account. The capital is then retained by the co-op to use as operating capital for a period of time and then returned as financial conditions permit.
How does NAEC decide how much to return?
Each year the NAEC Board of Directors evaluates the overall financial condition of the and decides the amount of capital, if any, to refund.
Will I receive a refund?
This year’s retirement represents 15.95 percent of the margins assigned for 1995, 91.07 percent of the margins assigned for 1996 and 16.09 percent of the margins assigned for 2017. Only members who purchased electricity from NAEC during the years above will receive a refund in 2018.
How are refunds given?
Refunds will be distributed after Dec. 1. Members with a refund of less than $50 will receive a credit on their December statement. Members with a refund of $50 or more will receive a check in the mail. Non-active members with a refund of more than $2 will receive a check as well.
How do I get more information on my capital credits?
Please call NAEC at 870-895-3221; email email@example.com; or visit our Salem, Mountain Home or Ash Flat office. We are open 8 a.m. to 4:30 p.m. weekdays.
Help students further their education by enrolling in Operation Round Up If you would like to help local students continue their education, then please consider joining NAEC’s Operation Round Up® program. Members volunteer to have their electric bill “rounded up” to the next even dollar amount each month. To date, Operation Round Up has awarded more than $145,000 in college scholarships to recent high school graduates. Enroll by visiting an NAEC office or calling 870-895-3221. Some NAEC members support Operation Round Up by donating their capital credits refund. If you would like to donate yours, please endorse your check and mail it back to NAEC. All donations are gladly accepted and tax deductible.
North Arkansas Electric Cooperative operates as a member-owned not-for-profit cooperative. That means you are not a customer of NAEC. You are a member. You are an owner. Any margins we make are assigned to you and our other members based on the amount of electricity each used. Every spring, you receive a capital credits certificate that states your portion of the previous year’s margins that were assigned to your account. Every fall, the NAEC board evaluates the co-op’s overall financial condition and decides the amount of capital we can refund. In NAEC’s 79-year history, more than $36 million has been refunded to our members. This year’s refund of $5.1 million is the largest in co-op history and marks the 31st consecutive year that NAEC has refunded margins. Capital credits are just one of the differences that set electric cooperatives apart from other utility business models. We are proud of our financial accomplishments and are delighted to be able to give money back to you, our member-owner. NAEC’s directors, employees and I hope you and your family have a merry Christmas! — Mel Coleman
Find hazards with electrical safety checklist Nearly half of all home fires occur during the winter months. Take a few minutes to identify and correct any potential electrical hazards to ensure the safety of your home.
• Are any switches or outlets warm to the touch? YES NO Warm switches or outlets indicate an unsafe wiring condition.
• Are any outlets or switches discolored? YES NO Discoloration indicates dangerous heat buildup at these connections.
• Do plugs fit snugly into outlets? YES NO Loose-fitting plugs can cause overheating and fires.
• Are any cords cracked, frayed or damaged? YES NO Damaged cords can expose wires and cause a shock or fire hazard.
• Are cords pinched by furniture or windows or pierced by staples or nails? YES Damaging a cord’s insulation can cause a shock or fire hazard.
• Do you use extension cords on a permanent basis? YES NO Extension cords should only be used temporarily.
• Do you have recurring tripped circuit breakers or blown fuses? YES NO If yes, this could indicate you’re exceeding a safe level of electrical current.
• Do you have arc fault circuit interrupters? YES NO AFCIs provide greater fire protection. Check circuit breakers for AFCI label.
Please note this is not a comprehensive safety checklist. Visit ESFI.org for more information. Source: ESFI
ENERGY EFFICIENCY TIP OF THE MONTH
Heading out of town for the holidays? Be sure you unplug electronics that draw a phantom energy load. TVs, gaming consoles, chargers and DVD players use energy when plugged into an outlet — even when they’re not in use. — energystar.gov
Our offices will be closed for Christmas on Dec. 2425 and New Year’s Day on Jan. 1. In case of an outage, call 870-895-3221.
DAILY HIGHS & LOWS — OCTOBER 2018 Average Daily High: 70.76° compared to 75.2° in 2017
Average Daily Low: 48.1° compared to 46.4° in 2017 Total Rainfall Amount: 5.64” compared to 1.46” in 2017 Warmest Day: Oct. 5, 91.6° at 3 p.m. Coolest Day: Oct. 21, 30.7° at 8 a.m.
CONTACT NAEC 870-895-3221 firstname.lastname@example.org naeci.com
IMAGES: TIM THURMAN; PIXABAY.COM/INSPIREDIMAGES
RIGHT-OF-WAY Asplundh: Sycamore Springs area West Tree Service: Moko, Salem, Three Brothers and Oakland areas
ON THE FRONT NAEC lineman Jay Thompson helps restore power to Georgia co-op members affected by Hurricane Michael.
2018 December NAEC The Messenger