UEC returns $4 million in capital credits
Published 2:00 pm Monday, April 12, 2021
HERMISTON — Umatilla Electric Cooperative will return $4 million to cooperative members in April as part of the utility’s Capital Credits program.
According to a news release, 10,265 refund checks will be issued to members who purchased electricity during 2019. Checks will be mailed on April 7, and the amount will be based on the member’s energy usage. Amounts of less than $10 will not be mailed now, but will be added to a future refund check for the customer once their total credits surpass $10.
As a not-for-profit, member-owned company, UEC operates at cost, with net revenues returned to members in the form of Capital Credits refunds. The cooperative has returned more than $92 million to members since 1960, according to UEC, including $11.6 million during the pandemic.
“The return of Capital Credits reflects UEC’s financial strength and stability and provides a means to inform members about the cooperative difference,” Robert Echenrode, UEC General Manager and CEO, said in a statement. “One of the best features of a rural electric cooperative is being able to invest in and support our local communities.”
For questions, call 541-567-6414 or email customer.service@umatillaelectric.com.