BlueRidge Electric Members To Recieve Refunds
Checks or bill credits are coming in May to members of Blue Ridge Electric Membership Corporation, thanks to a $2 million capital credits retirement approved earlier this year by the Board of Directors. Checks will be mailed on May 9 to members due a capital credits refund of $25 or more. Members due less than $25 are receiving their capital credits refunds in the form of a credit on their May electric bill. The amount of each refund is based on that member’s use of electricity. All cooperative members are receiving a bill insert about capital credits to alert them of the return of these funds. Information can also be found in the Membership Matters newsletter inside Carolina Country magazine or at www.BlueRidgeEMC.com and on the cooperative’s Facebook page. Capital credits are a unique benefit for members of 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 for all the things needed to provide reliable electricity until they’re retired in the form of a refund to members. Each year, the Board of Directors decides on the capital credits retirement based on the financial health of the cooperative. Since its inception, Blue Ridge Electric has returned more than $35 million back to its members in annual capital credits retirements.