Northfork Sparks & Flashes Sept. 15 CONTENTS PAGE 2


Safety for All PAGE 3


Healthy and Easy After School Snacks


PAGE 4 Partners in Education


Ownership has its Privileges Trustees Vote to Return Over $240,000 in Capital Credits


One benefit of being a member and owner of your cooperative is receiving capital credit refunds. These capital credits are your portion of the margins - or profits - made by your cooperative. Capital credits are unique


NFEC offices will be closed Mon- day, Sept. 7 in recognition of Labor Day.


Please call


1-800-668-6587 to report an outage or a safety hazard.


to the cooperative form of busi- ness. Unlike profits paid only to share-holders of for-profits businesses, capital credits are paid to each co-op member who purchases electricity in a specific year.


Earlier this year, your board


of trustees voted to return $240,306 in capital credit refunds. This is 100 percent of the margins for years 1963 and 1964, and 4 percent of the 2013 margin. Refund amounts are based on the amount each member paid for electricity during those years.


“Because Northfork has been in a long period of signifi- cant growth requiring use of these amounts to be invested back into the system, there


have been no retirements of capital credits in recent years,” says NFEC General Manager Scott Copeland. “Last year, however, the board of trustees directed our management team to develop a plan to resume retirement of capital credits in future years. The plan pre- sented by staff and approved by the board, calls for budgeting an amount annually to begin a systematic retirement of these credits,” says Copeland. “While the approval to


retire capital credits must still be made by the board each year to assure the financial condi- tion of the cooperative will not be impaired, it is hoped the retirement of capital credits can be reduced to a 30-year rotation cycle over a reasonable amount of time,” he says. Capital credit checks were


distributed to members who attended our Annual Meeting Aug. 15. Anyone who earned a capital credit refund, but did not attend the meeting, should receive a check in the mail dur-


ing the first week of September. Members with multiple accounts will receive one check that reflects the total accumu- lated capital credits from all their accounts. Former NFEC members will be sent a check for their refund. That is why it is so impor-


tant for us to have your mailing address if you should move off of NFEC lines. Anyone who is an heir to a deceased member’s estate needs to complete and submit a Cer- tification of Entitlement form, as well as present a copy of the death certificate, and will or letters of testimony. The form can be found on our website - www.nfecoop.com - on the Patronage Capital Credits page found under the About Us tab. Those checks will be begin be- ing mailed in October. If you have questions about


your capital credits, please call our office at 580-928-3366 and speak with Jose Hernandez or Lisa Dailey.


Supplement to Oklahoma Living


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