Millions in capital credits paid early
Branson, Missouri –
White River Valley Electric Cooperative is giving 5.9 million dollars back to their members to help offset the continued financial hardships.
The member-owned cooperative supplies electric to five counties in Southwest Missouri; Christian, Douglas, Ozark, Stone, and Taney. Since WRVEC is a not-for-profit, excess monies are returned to their members in the form of capital credits.
The Cooperative pays the bills for things like power generation, maintenance, and operations. The money left over after those bills are paid each year is called a margin. Margins provide equity for the Cooperative and are assigned to members through the capital credits.
“The financial success of the Cooperative supports the ability to return patronage capital to our members”, said Tim Shafer – Manager of Finance and Office Operations. “Capital credits are just one of the many ways consumer-members find value in their membership.”
Traditionally, the co-op pays these credits in July. These credits have been paid out early the last two years due to pandemic response. The Board of Directors and Executive Staff met to discuss what can be done to offset the continued financial hardships members currently face. The decision to pay capital credits early in 2022 was unanimous.
The $5.9 million release is based on how much electricity is purchased during a year. The early 2022 payment amount equals percentage of 1985, 1986, 1987, 1998, 2018, & 2020. Current members will see the payments applied to their billing statements for the May billing cycles. Those who are no longer members will receive a check.
For more information on capital credits, visit https://www.whiteriver.org/member-center/capital-credits/ .
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White River Valley Electric Cooperative is a Touchstone Energy Cooperative dedicated to ensuring our members receive safe and reliable service in their homes and businesses across five southwest Missouri counties including Ozark, Taney, Stone, Christian and Douglas.
