Advantages to Being an Electric Cooperative Member
Board authorizes $177,000 in patronage dividends to be paid in December
Member-owners of Nishnabotna Valley REC will receive their share of the $177,000 patronage (also known as capital credits) in December either on their bill or in the mail. The money comes from patronage dividends allocated for the year 2000.
When you signed up to receive electric service from Nishnabotna Valley REC, you became a member-owner of an electric utility. While investor-owned utilities return a portion of any profits back to their shareholders, Nishnabotna Valley REC allocates and periodically retires patronage dividends based on how much a member spent with the co-op during a year. Electric co-ops operate on an at-cost basis, so our goal is to provide you with electricity at a price that is as close to cost as possible.
These funds have helped us keep the lid on rates, reduce the amount of money we needed to borrow from outside lenders to build, maintain, and expand a reliable electric distribution system, and cover emergency expenses. If you were a member of NVREC in 2000, you should be a recipient of patronage dividends in December. If the amount due to the member is less than $25.00 it will be rolled over and combined with future dividends until it equals $25.00 or more unless it is the final payment to that member.
Members of Nishnabotna Valley REC have received over $6.5 million in patronage dividends since the Cooperative began in 1936. Please see our website for more information about patronage dividends.