MONTPELIER — The Vermont Electric Cooperative is returning $850,000 to members, the first time it’s made such a distribution in its 75-year history.
In previous years, the Co-op has reinvested earnings in upgrades to its electrical system and used capital to secure power supply contracts.
Vermont Public Radio reports (http://bit.ly/1aIvEa4) the co-op recently adopted new policies that enable “patronage capital” distributions. That’s based on the principle that the economic benefits of a cooperative’s operation should be returned to its members or reinvested in the co-op.
The distributions apply to members during 1997 and 2012. Active members in good account standing and with patronage capital balances from these years can expect to receive a credit on their bills between now and mid-October.MORE IN Vermont NewsWASHINGTON — For someone who rails almost daily against big money in politics, Bernie Sanders has... Full StoryWorld Cup skiing could return to New England for the first time in 25 years. Full Story
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