The Missouri Rural Electric Cooperative’s Board of Directors has again approved the refund of capital credits. Checks will be mailed on Sept. 13, according to Richard Donelson, general manager/CEO.
The total amount of $731,031 will be refunded to the 4,187 members of Missouri Rural Electric who either received service during the year of 1998 or were included in the partial payment made by Northeast Missouri Electric Power Cooperative and Associated Electric Cooperative for their 1993 and 1994 margins.
Missouri Rural, Northeast Power and Associated Electric are not-for-profit utilities. At the close of each business year, any margins are allocated to the member-owners based on the amount of electricity purchased. These allocations are then returned to the members as financial conditions permit.
To date, more than $14.9 million has been returned to Missouri Rural Electric’s members in this fashion during the past 51 years.
These checks should be received the week of the annual meeting, which is scheduled for 10 a.m. Saturday, Sept. 21, a the Palmyra High School gymnasium.