THE MESSENGER A Publication for North Arkansas Electric Cooperative Members
NAEC returning $3 million in capital credits to members
From the CEO
North Arkansas Electric Cooperative will return $3,071,752 in capital credits to members in December. This will mark the second-largest capital credits retirement in NAEC’s history and bring the total returned to members to more than $39 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 co-op and decides the amount of capital, if any, to refund.
Will I receive a refund?
This year’s retirement represents 57.49 percent of the margins assigned for 1997 and 3.56 percent of the margins assigned for 2018. Only members who purchased electricity during the years above will receive a refund in 2019.
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 firstname.lastname@example.org; 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 award scholarships to recent high school graduates, then please consider joining NAEC’s Operation Round Up® program. Members who join Operation Round Up agree to have their electric bill “rounded up” to the next even dollar amount each month. You can enroll by visiting an NAEC office or calling 870-895-3221. Some members support Operation Round Up by donating their capital credits refund. If you would like to donate your refund, then please endorse your check and mail it back to NAEC. All donations are greatly appreciated and tax deductible.
North Arkansas Electric Cooperative operates as a not-forprofit cooperative. That means you are not a customer. 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 80-year history, more than $39 million has been refunded to our members. This year’s refund of $3 million is the second largest in NAEC history and marks the 32nd consecutive year that NAEC has refunded margins. Capital credits are just one of the differences that sets 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
ITEMS FOR BID NAEC has the following items for sale to the highest bidder. They may be viewed at the Ash Flat office during regular office hours from 8 a.m. to 4:30 p.m. Monday through Friday. Use the bid form below and send in an envelope marked "Bid" to NAEC, P.O. Box 1000; Salem, AR 72576. Bids must be received by 1 p.m., Friday, Dec. 20, 2019. NAEC reserves the right to refuse any or all bids. Photos of the items may be found at www.naeci.com/equipmentsales. Please call 870-895-3221 with any questions.
Unit 4083 7924 7929
2004 GMC Envoy SLT XL, White, Auto, V6, VIN 1GKET16P046224738, 151,813 miles 2009 Chevy E15 Cargo Van, V8, Auto, AWD, VIN 1GCFH154291165690, 139,183 miles 2010 Chevy 1500, Extended Cab Pickup, 4x4, 5.3L V8, Auto, VIN 1GCSKPE39AZ239140, 149,174 miles
Name Phone Address City State ZIP Code
ENERGY EFFICIENCY TIP OF THE MONTH
Dry towels and heavier cottons separately from lighter clothing. You’ll spend less time drying the lighter-weight items. Also, don’t forget to clear the lint filter regularly and wash it monthly if you use dryer sheets. — energy.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 2019 Average Daily High: 70.05° compared to 70.76° in 2018
Average Daily Low: 44.55° compared to 48.1° in 2018 Total Rainfall Amount: 4.42” compared to 5.64” in 2018 Warmest Day: Oct. 2, 95.3° at 3:30 p.m. Coolest Day: Oct. 31, 26.8° at 12 a.m.
DAYS CONTACT NAEC 870-895-3221 email@example.com naeci.com
IMAGES: NRECA; PIXABAY.COM/STEFANO FERRARIO
RIGHT-OF-WAY Oakland, County Road 30 and Robinson Point areas in Mountain Home; Evening Shade area
ON THE FRONT Mascot Willie Wiredhand is a symbol of pride for electric co-ops. Read about his beginning at www.naeci.com.
2019 December North Arkansas Electric The Messenger