Capital refunds will soon be on the way
According to Blue Ridge President and CEO Jim Lovinggood, refunding patronage capital is a key element of the cooperative business model. “As a member-owned organization, we believe it’s good business practice to employ regular rotations of capital credits. These payments represent the return of a portion of the investment members have made in the cooperative through their purchases of electricity. We take pride in fulfilling this responsibility.”
On April 11, Blue Ridge Electric Cooperative will refund $1,000,000 in capital credits to its members. Checks will go into the mail on that date and will represent margins earned by the cooperative in previous years of operation. Each check amount represents that member’s pro-rata share of the net earnings during the years covered by the payment.
In each of the last 37 years, Blue Ridge has returned capital credits to its members. Through the years, more than $27 million has been forwarded to recipients.