Fall River Electric Cooperative is mailing checks to over 6,000 of owner-members totaling $1,023,143. It is part of the non-profit coop’s patronage capital program.
When revenues collected by the co-op exceed operating costs, the extra revenues become patronage capital, which is then disbursed to its owner-members on an approximate 20-year cycle.
That 20-year rotation also provides equity that allows Fall River to obtain lower interest loans used for large capital projects.
“Payments made to our customers are a unique and tremendous benefit to being a member of a cooperative,” said Fall River CEO/General Manager Bryan Case. “It is made possible with the approval of our elected Board of Directors. They analyze the financial health of our Cooperative and only pay out patronage capital when it is in the best interest of our entire membership.”
The amount a customer receives is based on how much electricity they used during the years being retired or paid out. This year, members are receiving patronage capital earned in 1996 and part of 1997.