Have you received your refund?
Refund checks as part of Cuivre River Electric Cooperative’s (CREC) capital credit program were distributed to members in June this year, a little earlier than usual to offer some relief to those who may have been financially impacted by the COVID-19 virus pandemic.
Over $6.7 million was distributed. This year’s refunds include a portion of the cooperative’s 2019, 2018 and 1997 margins – still a hybrid method of retirement but nearer to current years and members. They include 33 percent of members’ equity from 2018, 33 percent from 2019 and 33 percent of 1997.
The amount of each member's refund is based on a formula determined by the quantity and cost of kilowatt-hours (kwhs) purchased annually. Since 1976, CREC has returned more than $100 million to current and former members.
If you have not yet received your refund, or to learn more about capital credits, visit the CREC website at cuivre.com/content/capital-credit-refunds, or call us at 800-392-3709.