WINDSOR — The Poudre Valley Rural Electric Association board of directors has approved the retirement of $3 million in credits this year to its members throughout its service area during the month.
Every consumer who receives electricity from PVREA is considered a member of the cooperative. The amount returned to each member depended on the length of time the member had been served by PVREA and the amount of electricity the member purchased from the cooperative during a particular time. The electrical cooperative collects only enough revenue to run and expand, so when money is left over, it goes back to members in the form of credits.
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“The sharing of margins is one of the many benefits of being a member of an electric cooperative. We’re proud to support our communities by putting money back into the local economy — and into the pockets of those we serve,” Jeff Wadsworth, president and CEO of PVREA, said in a prepared statement.
Current and previous members who held membership in the cooperative and have accumulated credits of $10 or more will receive a credit. Members will receive their credits either on their September bill as a credit or will receive a check in the mail if the credit amount is over $100.
PVREA has paid out more than $25 million of credits in the past eight years. The co-op operates in Boulder, Larimer and Weld counties.