Capital Credits Retirement This Month
Dear Members,
We’re returning more than $1 million to members this month.
Capital credits are one of the many benefits of co-op membership. As a member-owned cooperative, each year we allocate to our members a share of the net margin, or income, we make from providing services to you. This is called a capital credit allocation. We use the money to fund operations until our board of directors authorizes a capital credit retirement. At that point, the money is returned to members.
Our board of directors has authorized the retirement of $887,093 in capital credits for electric division members from 2011 and 2012, and $184,395 in capital credits for internet division members from 2017. Your share of these retirements will be mailed to you as a check in late November, unless you have a past-due balance or you have requested that your retirement be applied to your HR Co-op account.
Details from the refunds in each division are:
- For the electric division, the retirement pays out the remainder of the 2011 capital credit allocation and 20% of the 2012 allocation. If you were an electric service member in 2011 or 2012, you will receive a portion of this retirement.
- The internet division retirement is for 50% of the 2017 capital credit allocation. If you were an internet service member in 2017, you will receive a portion of this retirement.
As a reminder, please keep your mailing address updated— especially if you move away—so we can find you to pay out your future capital credit retirements.
On behalf of everyone at Hood River Electric & Internet Co-op, thank you for being our member. We wish you a safe and happy holiday season.
In cooperation,
Libby Calnon
General Manager