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Customers of Florida Coop to Get Millions

Florida-based Lee County Electric Cooperative has approved an equity distribution of $6.1 million to current and inactive customers and an additional distribution of $6.1 million to memberships that have been closed since 2006.  Customers receiving a distribution of less than $250 will receive a credit on their bills.  Click here for more information.

New Mexico Coop Seeks Funding to Prevent Takeover, Will Pay Out Capital Credits

Socorro Electric Cooperative (Socorro Electric) is looking for approximately $250,000 from the National Rural Utilities Cooperative Finance Corporation’s Cooperative System Integrity Fund (Fund) to help the coop ward off a takeover by the city of Socorro, New Mexico.  The Fund is intended to help rural coops whose service territories may be threatened.  Additionally, Socorro Electric...

Bluebonnet Members to Receive Capital Credits

Bluebonnet Electric Cooperative in Texas will return $3 million in patronage capital to its members using a member’s past electricity usage and length of membership to determine the amount returned in the form of capital credits.  The San Marcos Daily Record has the full story.

Florida Coop Retiring $5 Million in Capital Credits

Clay Electric Cooperative will distribute its 40th consecutive capital credits refund this March.  This $5 million refund, which will be distributed to current and former customers who received service between 1987 and 2012, will appear be issued in the form of a credit on March bills to current customers.  Former customers will be issued a check in mid-March.  The money for the refund...

Indiana Coop Becomes 100 Percent CFC Borrower

Indiana coop Jackson County Rural Electric Membership Corporation (Jackson County REMC) recently refinanced $100,000 in outstanding debt, making it a 100 percent National Rural Utilities Cooperative Finance Corporation (CFC) borrower.  Jackson County REMC initially joined CFC in 1999.  The coop is also currently implementing its first-ever capital credits general retirement.  Read more...

North Carolina Coop Authorizes $3 Million in Capital Credits

Members receiving electric service in 2011 and 2012 from EnergyUnited and in 1986 and 1987 from Crescent EMC or Davidson EMC (which later consolidated with EnergyUnited) were refunded $3 million in capital credits in December 2013.  The Dispatch has the full story.

Arkansas Coop Refunds $6.5 Million in Capital Credits

First Electric Cooperative members saw a refund in the form of $6.5 million in capital credits in late 2013.  The amount represents a retirement of 1986 capital credits and a portion of all years through 2012.  Click here for more information.

New York Coop Refinances with CFC, Changes Patronage Capital Distribution Policy

Otsego Electric Cooperative (OEC), based in Hartwick, New York, recently refinanced its outstanding debt owed to other lenders with the National Rural Utilities Cooperative Finance Corporation (CFC), becoming the first 100% CFC borrower in the state.  OEC, which serves about 4,500 members in the area between the Catskill and Adirondack mountain ranges, also worked with CFC to develop a...

Kansas Coop Set for Largest Patronage Capital Return in Its History

Ark Valley Electric Cooperative (Ark Valley) will return more than $2 million in patronage capital to its members later this month.  The return of patronage capital will represent Ark Valley’s largest retirement of owners’ equity since the cooperative was incorporated in 1939.  Click here for more.

Delaware Coop to Distribute $3 Million in Capital Credits to Members

The Board of Directors of Delaware Electric Cooperative (DEC) recently voted to return $3 million in capital credits to all of DEC’s members and former members who held an active account in 1995.  Click here for more.

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