Nevada County Picayune and Gurdon Times Newspaper Archive

Cooperative Members Getting Refund

Members of South Central Arkansas Electric Cooperative will receive an economnical boost of $200,000 this summer.

Ronald Easley, general manager of the local member-owned electric cooperative, announced that the cooperative board has voted to return capital credits to the membership based on energy consumption in 1996.

"Each member of South Central Arkansas Electric Cooperative is an owner of the non-profit cooperative," Easley 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 continued. "However, this money goes to local people who live here and work in the community. Normally, stock dividends paid by 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 $692,974.50 in 1994, 1995, 1996 and 1997.

"We are proud that we have been able to operate the cooperative in an efficient manner so our members can benefit from their ownership," Easley concluded.