Nevada County Picayune and Gurdon Times Newspaper Archive

Members Receive Capital Credits

Members of South Central Arkansas Electric cooperative will receive an economic boost of $300,000 following action by the cooperative's board in June.

Ron Easley, manager of the local member-owned electric cooperative announced last week that the cooperative board voted to return capital credits to the membership based on energy consumption in 1997.

"Each member of South Central Arkansas electric cooperative is an owner of the non- profit cooperative," he said. "As such, any margins over the cost of providing electricity and maintaining necessary cash reserves are returned to the members as funds become available.

"The refund is similar to a dividend paid by large investor-owned utilities," he said, "however, this money goes to local people who live here and work in the community. Normally, stock dividends paid out-of-state utilities go to large investors and others who have no interest in the local community."

With this capital credit redemption, which will be returned based on the amount of consumption by each member, South Central Arkansas Electric Cooperative members will have received $992,974 since 1994.

"We are proud that we have been able to operate the cooperative in an efficient manner so our members can benefit from their ownership. Since 1964, the cooperative has retired $1,75 million to its member owners," Easley added.

Cooperative members should expect to receive a check from South Central by mid- October, Easley concluded.