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Missouri Rural Electric Cooperative’s Board of Directors has approved the refund of capital credits.
The total amount of $839,783 will be refunded to the member-owners.
Checks should be received the week of the drive-through annual meeting, set for Saturday, Aug. 26, at Palmyra High School.
Registration and voting will be held between 9 and 11 a.m.
At the close of each business year, any margins are allocated to the member-owners based on the amount of electricity purchased.
These allocations are then returned to the member-owners as financial conditions permit. This is one of the advantages of being a member-owner of an electric cooperative.
To date, over $22.7 million have been returned to member-owners during the past 61 years.