Members of North Arkansas Electric Cooperative will be receiving over $1.2 million in December, according to Mel Coleman, chief executive officer of the coop. One of 900 electric cooperatives representing 42 million members across the United States, Coleman says they differ from an investor owned or municipal utility in that the cooperative is owned by the members it serves.
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The non-for-profit electric cooperative returns any of the years profits to members in the form of capital credits. The amount of money members receive is determined by how much electricity they used throughout the year.
This year’s capital credits of about $1.2 million represent 30 percent of the outstanding balance for 1995 along with 5.3 percent of the outstanding balance last year. Members will be receiving their share by a credit on their account or in a check, says Coleman.
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Coleman says North Arkansas Electric Cooperative has a history of refunding members.
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The North Arkansas Electric Cooperative’s headquarters is located in Salem. There are full-service offices located in Ash Flat and Mountain Home, as well. For more information call 870-895-3221 or visit www.naeci.com.
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