Members Get $2 Million Back in Capital Credits Retirement

Lenoir, North Carolina (May 5, 2010) – Thanks to a $2 million capital credits retirement of the 2009 margins approved earlier this year by the Board of Directors of Blue Ridge Electric Membership Corporation, members of the cooperative are receiving money back during May and early June.

Members due a capital credits refund of $25 or more are receiving a check in the mail, which will be mailed along with capital credits information by May 8. Those due less than $25 are receiving their capital credits refunds in the form of a credit on their May electric bill. All members are also receiving a notification bill insert to alert them of the return of capital credits in May.

Capital credits are a unique benefit of belonging to a cooperative. Each member is also an owner of Blue Ridge Electric, and that ownership is represented by capital credits. Capital credits are the working capital of the cooperative, used to provide reliable electricity, until they’re retired in the form of a refund to members. Each year, the Board of Directors decides on a capital credits retirement based on the financial health of the cooperative.
Since its inception, Blue Ridge Electric has returned more than $30 million to its members in annual capital credits retirements.

Blue Ridge Electric is not-for-profit, member owned electric cooperative some 73,000 members in Caldwell, Watauga, Ashe, and Alleghany counties as well as parts of Wilkes, Avery, and Alexander counties.