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CAPITAL CREDITS: Bluebonnet gives back $3 million to its members

0430
 2014
Bluebonnet Electric Cooperative’s Board of Directors voted during its April meeting to return $3 million to the co-op’s members. The money will be returned in the form of capital credits, which are similar to dividends that for-profit companies pay their investors. Capital credits are paid each year and represent a portion of each member’s share of their ownership in the cooperative.

The amount each member receives depends on how much electricity they used in the previous years and how long they have been a Bluebonnet member. Current members will receive a credit on their May electric bill. Former members who are still owed a capital credit will receive a check in May or June.

“Receiving capital credits is one of the things that makes being a member and owner of a co-op special,” said Rick Schmidt, Bluebonnet’s Board chairman. “While investor-owned utilities pay dividends to their investors and city-owned utilities transfer excess revenue to the city, co-ops return money to their members. During the last six years Bluebonnet has returned $24.9 million.”

Bluebonnet Electric Cooperative is one of the largest electric cooperatives in Texas and has been serving its members since 1939. Bluebonnet serves more than 85,000 meters and owns and maintains 11,000 miles of power lines, located across more than 3,800 square miles within all or part of 14 Central Texas counties. Bluebonnet’s service area stretches from Travis County to Washington County and from Milam County to Gonzales County. For more information about Bluebonnet Electric Cooperative, go to bluebonnet.coop and follow the co-op on Facebook and Twitter.

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