WREA Retires $1.2M in Capital Credits for 1997-1998 Consumers
The WREA Board recently approved to pay out $1.2M in capital credits to its membership. When people sign up to receive electric service from White River Electric Association they become a member of a rural electric cooperative. With membership comes privileges.
WREA is owned by its members and returns allocated margins based on how much electricity was purchased during a particular year. In comparison, investor-owned utilities return their profits back to their shareholders, who may or may not, be served by that utility.
Capital credit checks reflect a member’s contribution of capital to the cooperative for a specific year. In recent years, WREA has retired capital credits on an approximately fifteen year basis. In 2016, WREA retired capital credits for the year 2002, but this year, WREA went back to allocate and retire 1997 and 1998 capital credits. Due to member data issues, WREA had not been able to allocate or retire capital credits for 1997 and 1998. WREA was recently able to resolve these issues, and the WREA Board approved to pay out $1,200,000.00 in capital credits for 1997 and 1998. WREA members from 1997 and 1998 will receive capital credit retirement checks in the mail beginning the week of August 21, 2017. It is important that members maintain a current mailing address with White River Electric so future retirements can be properly mailed.
White River Electric is proud to be a member owned electric cooperative that serves Meeker and the White River valley. Capital credit payments is one of the many advantages of being a member of WREA. Please call WREA if you have any questions about capital credit retirements.
WREA will also hold its annual meeting on Wednesday, September 13, 2017 at the Fairfield Center. Lunch will begin at 11:30 with the business meeting to follow at 1:00. Members who bring food items for the Meeker Food Bank will be entered into a drawing for a $100.