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FEC to Return
Over $290,000 in Capital Credits to Members One of the Seven Cooperative Principles that guide our business is Members' Economic Participation. This means that you own the cooperative, and as owners any margins (profits) that we make are allocated to you based on your usage. Your Board of Directors decides how much of the capital credits Farmers' Electric can retire (pay), and still keep the cooperative financially stable. If you received your electric service from an investor owned utility, those profits would be returned to the shareholders as dividend payments. This year we are proud to announce that your Board of Directors has unanimously voted to issue capital credit checks totaling over$290,509 to the member-owners of the cooperative. This amount will retire the remainder of the 1986 allocation, and about44% of the 1987 allocation. This brings the total amount of capital credits retired by FEC to over$13,790,000. If you were a member in 1987, and your retirement amount is $10 or greater, you will receive a check. These checks will be mailed in mid-December. Retirement amounts less than $10 will be retained in your account until future retirements bring the amount to over $10. It is important for us to continue to follow the Seven Cooperative Principles, and show you the cooperative difference by returning a portion of our margins back to you. Our ultimate goal is and always will be, to provide you with safe, reliable electric service at a reasonable cost. All of us here at Farmers' Electric wish you and your families a Merry Christmas and a Happy New Year! |
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