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MEEKER I Members of White River Electric Association who paid electric bills in 1993 and 1994 will soon receive capital credit refund checks in the mail. The WREA board of directors annually reviews and pays out capital credit refunds to its members. This year the WREA Board voted unanimously to refund $581,763.13 for 1993 and $510,984.52 for 1994 for a total of $1,092,720.65. The amount refunded to members is based on the margins of the cooperative for those years. Members who contributed to the association’s capital through their electric bills in ’93 and ’94 will see a pro-rated check based on their payments for these years.
“This is a first for White River Electric”, said Gary Dunham, WREA board president. “We have been financially able to refund money to the members in the past, but never this size. The board is pleased that the financial conditions at White River Electric allows this large of a refund at one time. We hope that these capital credit checks come at a good time for the membership.”
Members should see the checks appearing in their mailboxes this week or the first week of September.
“This is one of the advantages of belonging to a cooperative,” said Dick Welle, general manager. “We are rotating out capital credits to those members who helped provide the capital to the organization. With this two year payment, that puts us on a 16 year rotation, which is pretty good for these economic times.”