This page contains a Flash digital edition of a book.
Visit us on the Internet at: www.vvec.com AUGUST 2015


Published for the members of Verdigris Valley Electric Cooperative A Supplement of Oklahoma Living.


Members to Receive $1,000,000 in Capital Credit Refunds


There are benefits to being a member/owner of a cooperative. One of those is receiving Capital Credit refunds. Your board of trustees has


recently approved returning $1,000,000 in capital credits to VVEC members. The amount will appear as a credit on your October electric bill. Capital credits are one of the benefits of cooperative ownership and are unique to the cooperative form of business. According to the co-op’s auditing firm - Briscoe, Burke & Grigsby - one dollar in five of the co-op’s equity has been returned to the mem- bers in the form of capital credit retirements. Clyde Willard, VVEC Director of Finance, says about 51 percent of that amount, or about $513,000,


will be paid to members who were receiving electricity from the co- op in 2014. The remaining 49 per- cent, or about $487,000, is being returned to members who were receiving power in 1981 and 1982. Refund amounts are based on the electric usage of each member during 1981, 1982 and 2014.


tiple accounts will receive one credit on their membership ac- count. That one credit will re- flect the total accumulated capital credit refund from all of their ac- counts. Willard says this is the 22nd consecutive year capital credits have been returned, adding that $15,093,489 has been returned since VVEC was founded. Former VVEC members will be


As in the past, the credit will be identified as a “patronage refund” and will be subtracted from the total amount due on your October bill.


Willard says members with mul-


sent a check for their refund if it is $5 or more. Lesser amounts will be held in each individual’s capital credit account until it reaches the $5 minimum. If you have questions about your capital credit refund, please call one of our consumer representa- tives at 918-371-2584 or 1-800- 850-5984 between 7:30 a.m. and 4 p.m. Monday through Friday.


Annual Meeting set for October 10, 2015


Robson Performing Arts Center Claremore High School Campus


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