Cherryland to return $1 million to members
There are a million reasons why it’s an advantage to have Cherryland Electric Cooperative as your power provider.
Make that $1 million reasons.
The cooperative’s board of directors voted at its May meeting to return capital credits worth $1 million to Cherryland members this summer.
“It’s all part of the way an electric cooperative works, since we are owned by our members,” said Cherryland general manager Tony Anderson. “Our present equity target is 40 to 45 percent. After we stabilize our financial condition in that range, we can return money to our members.”
The capital credit refunds for active members will be applied toward their August bill.
“That way, we save the members’ money on postage,” said member service manager Kevin Cragg.
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