REC Expects to Give Back about $8.1 Million to Members
Because REC is a not-for-profit, when there is money left over after paying all expenses involved in providing safe and reliable electric service, your share of that money is assigned to you in the form of cash-back capital credits.
As financial conditions allow, these credits are retired and paid out to members over time.
Each Cooperative must balance the retirements of credits between margins earned decades ago with those earned more recently. Each year, the REC Board determines the most appropriate balance between maintaining the Cooperative’s financial health and returning funds to the membership.
This year, REC expects to give back approximately $8.1 million in capital credits using a “first in, first out” method, which recognizes longer-term members whose equity in the Cooperative dates back to the late 1980s. As a result, some members may see a credit on their July electric bill.
