The Poudre Valley Rural Electric Association is returning more than $2.5 million to members who received service from the consumer-owned electric cooperative in 1999 and 2011. Members who have accumulated allocated patronage capital credits of $25 or more for those years will receive a check in the mail in late September.
“In the last 10 years, Poudre Valley REA has refunded nearly $20 million in annual capital credits to our consumer/members,” said Chief Executive Officer Brad Gaskill in a statement announcing the board of directors’ approval of the payments.
Because PVREA operates on a not-for-profit basis, any margins above expenses are allocated to each member in proportion to how much electricity they purchased — their patronage. These funds, called capital credits, are held in the member’s name until the board determines that the association’s financial condition will allow retirement.
PVREA serves more than 35,000 consumers in Boulder, Larimer and Weld counties in Northern Colorado.
More information on capital credits can be found at www.pvrea.com
or by calling 800-432-1012.