Intermountain Rural Electric Association will issue capital credit refunds next month.
The Board of Directors voted in January to refund $16.375 million of capital credits to current and former customers.
This marks the sixth straight year in which IREA has issued capital credits in the double-digit millions. The Association has returned capital credits totaling nearly $90 million since 2014.
As a member-owned cooperative, IREA does not operate for profit. The cooperativeâ€™s earnings are used for needed capital investment in the business and eventually are returned to current and former customers as our financial needs allow. Each year the Board of Directors determines whether the Associationâ€™s financial condition allows for the retirement of capital; typically â€“ as this year â€“ we are able to do so.
Most customers will see their capital credit refund payment as a line item on their March bill. Former customers and certain current customers will receive a printed check in lieu of a bill credit.
Because allocated capital is retired over time, we continue to make payments even after customers leave our system. Therefore, if you move out of our service area you should keep us informed of your address so we can continue to make payment.
Visit www.IREA.coop/capital-credits to learn more about capital credits.