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Board authorizes distribuƟ on N


ortheast Oklahoma Electric CooperaƟ ve’s board of trustees


recently authorized the distribuƟ on of approximately $1,169,000 in capital credit. Capital credit represents member equity in the cooperaƟ ve.


Current and former members who received electric service from the cooperaƟ ve in 1985 are eligible for a refund. Checks will be mailed to eligible members in September 2016 for their porƟ on of the credit reƟ red. Amounts totaling less than $10 will roll over to future years and a check will be issued


aŌ er a minimum amount of $10 is reached.


Electric cooperaƟ ves create ownership for members by allowing them to share in the success of the business. Unlike other uƟ liƟ es, your cooperaƟ ve exists to make sure your needs are met—not to make a pro⇒ t. As a member-owner, you share in these pro⇒ ts in the form of capital credit refunds.


The cooperaƟ ve works hard to keep rates low, and pro⇒ t (or margins) go back to you—the member/owner. Rates are set at a level necessary to pay operaƟ ng costs, make


payments on loans, and provide an emergency reserve. OperaƟ ng costs are subtracted from the total amount collected during the year. The balance is margins. Margins are allocated based on kWh usage.


Before distribuƟ ng the capital


credit, NEOEC’s board of trustees ⇒ rst considers the ⇒ nancial condiƟ on of the cooperaƟ ve, the need for capital funds, and the availability of loan funds. NEOEC is honored to serve you and to have the opportunity to share the success of 2015 with you because our success is your success.z


2016 Youth Tour attendees (left to right) Carlie Mahurin, Jaxson Oakley, Tylor Arnold, and Michelle Trapp stop for a picture in front of the White House and to say “thank you” to the members of Northeast Oklahoma Electric Cooperative for supporting this program.


10 - NE Connection


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