Missouri Rural Electric Cooperative's Board of Directors have approved the refund of capital credits.
Missouri Rural Electric Cooperative’s Board of Directors have approved the refund of capital credits.
The total amount of $446,236 will be refunded to the member-owners. Checks should be received the week of the Annual Meeting, which is Saturday, Sept. 16, at the Palmyra High School Gymnasium. Registration begins at 9 a.m., and the business meeting will start at 10 a.m.
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 member-owners as financial conditions permit. This is one of the advantages of being a member-owner of an electric cooperative.
To date, over 17.7 million dollars have been returned to member-owners during the past 55 years.