Coleman Co. Electric Cooperative to Return $300k to Member/Owners
By: ColemanNews.com
Updated: June 20, 2012
Coleman County Electric Cooperative will return in excess of $300,000 in
capital credits back to its member/owners this month.
Since 2008, the cooperative has retired in excess of $1.3 million dollars.
"This is the business model of an electric cooperative," says General Manager Roland Witt. "We are a nonprofit, member-owned cooperative. When margins are realized that exceed operating needs and our debt obligations are met, then the Board of Directors can vote to retire capital credits. Unlike other business models that work for Wall Street, a cooperative is locally owned and is concerned about Main Street."
Coleman County Electric Cooperative has been in existence since 1937 and provides electric service to about 8500 meters in parts of eight counties.
Since 2008, the cooperative has retired in excess of $1.3 million dollars.
"This is the business model of an electric cooperative," says General Manager Roland Witt. "We are a nonprofit, member-owned cooperative. When margins are realized that exceed operating needs and our debt obligations are met, then the Board of Directors can vote to retire capital credits. Unlike other business models that work for Wall Street, a cooperative is locally owned and is concerned about Main Street."
Coleman County Electric Cooperative has been in existence since 1937 and provides electric service to about 8500 meters in parts of eight counties.
