UNITED ELECTRIC TO RETURN $1.7 MILLION BACK TO MEMBERSHIP
The board of directors of United Electric Cooperative have authorized the retirement of capital credits in the amount of 1.7 million dollars. Members who received service in 2019 from United Electric will see a credit on the bill they receive in October. United Electric Cooperative operates as a non-profit entity in which they are owned by the members they serve.
Margins are allocated to members as capital credits based on how much electricity the member used. Periodically, in keeping with the cooperative non-profit business model, the board of directors of United Electric evaluate the financial health of the cooperative to determine the amount of allocated margins to retire. Due to the success of United Services, a subsidiary of United Electric Cooperative, this retirement was made possible.
United Electric is a rural electric cooperative owned by the members and governed by a board of directors. The cooperative has over 3,600 miles of distribution lines that provide power to more than 10,000 meters in 11 counties across northwest Missouri and a portion of southern Iowa. United Services, a subsidiary of United Electric currently has over 13,000 fiber subscribers and continues to expand its services to its members and surrounding communities.