REC Returns $6.2 Million to Member-Owners
November 26, 2019
REC member-owners received a cash back credit on their November electric bill. This credit represents a portion of the member-owner’s share of the Cooperative. The longer a household has been a member-owner of REC â€“ and the more electricity they have used during that time â€“ the more Capital Credits they will have earned and the larger their share of the cash back will be.
“As a not-for-profit business, all revenues REC receives, beyond the costs for providing electric service, remain the property of REC’s member-owners and is assigned to them as Capital Credits,” explained Larry Andrews, manager of administrative services and controller. “As financial conditions allow, a portion of the Capital Credits are returned as cash back. This year, REC is returning $6.2 million to member-owners in the form of Capital Credits.”
Member-owners are reminded to check their November-December electric bill to see their cash back amount. For more information on Capital Credits and how they benefit REC, click here