CEC customers find checks in the mail
Failed to execute CGI : Win32 Error Code = 3Some Central Electric Cooperative customers are finding a nice holiday bonus in their mail boxes. More than $296,000 in capital credits checks has been approved for payment to central Electric Co- op members, according to Loy Petersen, chairman of the co- op's board of directors.
The checks were mailed last week to Central Electric members who purchased electricity from Central Electric in 1980. More than 10,600 Central Electric accounts are eligible to receive capital credits checks, Petersen said.
Central Electric is a consumer- owned, membership corporation and pays capital credits to members based on total kilowatt hours of electricity they purchase each year. Central Electric currently has more than 22,800 accounts in a 5,300 square wide area in Central Oregon.
Petersen said that Central Electric by-
laws
stipulate that the board of directors can authorize payment of capital credits
whenever the financial condition of the co-
op
is not impaired by such payments. He said Central Electric has paid capital
credits in 14 of the past 16 years.