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MEEKER I This week, White River Electric Association mailed capital credit checks to members who had electric service in 2002 as part of the cooperative’s patronage capital payout.
WREA is a not-for-profit electric cooperative owned by its membership.
Members build patronage capital in the cooperative based upon monthly electric usage. Each year, when WREA’s income exceeds expenses, the margins are allocated to each member’s capital credit account according to their usage. This is called “Capital Credit Allocation.”
The Capital Credit Allocation is maintained through an accounting system separate from the billing system and cannot be applied to an electric account.
WREA members recently received notifications for the most recent allocation, and those monies will be retired and returned at a future date.
The WREA board of directors annually reviews its financial condition to determine the amount of patronage capital it will return to its members. This year, the WREA board of directors approved to retire and return patronage capital from 2002 in the amount of $1,133,347. Members with active meters in 2002 will receive a check based upon that year’s usage. On average, WREA retires and returns patronage capital on a 15-year payout rotation.
Capital credit returns are one of the many benefits of being a member of White River Electric Association.
Please call WREA at 970-878-5041 with questions or to update your address for future capital credit retirements.