Capital refunds will soon be on the way
On April 12, Blue Ridge Electric Cooperative will refund $1 million in capital credits to its members. Checks will go into the mail on that date and will represent margins earned by the cooperative in previous years of operation. Each check amount represents that member’s pro-rata share of the net earnings during the years covered by the payment. In each of the last 39 years, Blue Ridge has returned capital credits to its members. Through the years, more than $29.2 million has been forwarded to recipients.
Refunding patronage capital is a key element of the cooperative business model according to Blue Ridge President and CEO Jim Lovinggood. “As a member-owned organization, we believe it’s good business practice to employ regular rotations of capital credits. These payments represent the return of a portion of the investment members have made in the cooperative through their purchases of electricity. We take pride in fulfilling this responsibility.”
When you hear about reward programs, remember this one. There's no action you need to take, and the concept is simple. The cooperative provides reliable power at the lowest possible price, AND we return money to you. This is a principle that has been around since the day Blue Ridge Electric Cooperative was established.
Blue Ridge Electric Cooperative also has unclaimed capital credits for a number of members. Please click here to find a complete list of the names and last-known address of former members whose unclaimed amount is $50 or more. If your name appears on the list, please contact us. In order to claim a capital credit, the cooperative will need to be presented with a picture I.D. If you are claiming the capital credit for a deceased person, you will need a copy of his/her death certificate and a copy of the Certificate of Appointment from the Judge of Probate. In order to claim funds, please contact Kathy Ellenburg at (800) 240-3400.