A holiday gift for you
At their regular October meeting, the Cuivre River Electric Cooperative Board of Directors approved the distribution of a special holiday credit to all members. The credit will be based on a percentage allocation that is similar to CREC’s regular year end capital credit process.
As a not-for-profit organization owned by our consumer-members, the money to cover day-to-day operating costs of the cooperative comes directly from the members paying their monthly electric bills. Each year, CREC subtracts those operating costs from the amount of money collected and the remaining balance is called the margin. These margins become patronage capital and are used by the cooperative for operating capital, necessary reserves, storm damage and other contingencies. Once all expenses are met, funds left over are allocated to your capital credit account based on individual patronage (the amount of money you paid for your electric bill). In August, the CREC Board retires capital credits based upon the financial stability of the cooperative.
So you might wonder, how can CREC grant another credit after just recently retiring capital credits this past August?
“We have watched expenses closely and our revenues have been strong due to some extreme weather throughout the year. We are member-focused. As a cooperative, when Cuivre River does well, our members do well,” said Doug Tracy, CEO/General Manager. “We’re excited to give back to our members a special credit this holiday season.”
If you had service with CREC between January 1, 2018 and September 30, 2018, you will receive this special credit. The credit will appear on your regular December electric bill as a separate line item. No checks will be issued to members.
“Part of the cooperative difference is sharing our successful year with our members,” Tracy said.
For any questions regarding the special credit, call 800-392-3709 ext. 4393.
Terms and Conditions: Bill credit is one-time per account based upon energy use from January 1–September 30, 2018. Credit is based on a percentage allocation that is similar to CREC’s regular year-end capital credit process. The credit will appear on your regular December electric bill as a separate line item; no checks will be mailed. You must be an active member with service as of 11/30/18 to be eligible to receive this credit.