A newsletter for members of Rural Electric Cooperative
December 2023
Co-op Comments Members receive capital credits It is time once again for our members to get credit, capital credits, for helping build, sustain and grow the electric cooperative.
Starting in December, REC will retire – or pay by cash or bill credit – $900,000 to members across portions of the six coun-
Employees complete certificate programs
Recently, two employees, Travis Loper and Dalton Todd completed certificate programs for Journeyman Line Worker and UTS Power Line Design and Staking. Loper completed the requirements to become a Journeyman Line Worker. He had to complete four sections with 10 units per section along with 6,240 hours of on-the-job training with Northwestern Lineman College. Todd had to complete four courses in distribution line design and staking to receive this certification in Distribution Line Design and Staking. Pictured from left to right is Casey Henson, Manager of Safety and Loss Control/Facilities; Joe Lewis, Purchasing Agent; Travis Loper, Warehouse Supervisor; Dalton Todd, Engineering Specialist; Jon Jones, Manager of Engineering and Dusty Ricks, CEO.
ties served by REC. When you signed up to receive electric service from REC you became a member of an electric cooperative. While investorowned utilities return a portion of any profits back to their shareholders, electric co-ops operate on an at-cost basis. So instead of returning leftover funds, known as margins, to folks who might not live in the same region or even the same state, REC allocates and periodically retires capital credits (also called patronage dividends, patronage refunds, patronage capital or equity capital) based on how much electricity you purchased during a year. This year, members from 1991-1993 will receive their capital credit retirements through bill credits, reflecting their contribution of capital and ownership of, the Cooperative during those years. While this may seem like a long time ago, those funds helped us keep the rates low; reduced the amount of money we needed to borrow from outside lenders to build, maintain and expand a reliable electric distribution system and covered emergency expenses. Each year, the Board of Trustees makes a decision on whether to retire capital credits based on the financial health of the cooperative. It is important for inactive members or members who have moved to keep their information up-to-date with REC so future retirements can be properly mailed to them. If you have any questions about capital credits please contact our office at 405756-3104.