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VEC Announces Distribution of Member-Owner Patronage Capital

September 29, 2016

Johnson, VT- Vermont Electric Cooperative (VEC) has announced the distribution of $500,000 in patronage capital funds to member-owners in 2016. Patronage capital is each member’s share of remaining funds after the cooperative utility pays its operating expense. The VEC Board of Directors determines annually whether the co-op is in a strong

enough financial position to return portions of patronage capital to members, and, if so, they decide which years andwhat percentage from those years to refund. Including this distribution, VEC has returned $2,350,000 in patronage capital dollars to active and former members.

Patronage capital is being distributed to active members as a credit on their September electric bill. Former members with a refund of at least $10 will be sent a refund check. Both active and former members have the option of donating their patronage capital dollars to VEC’s Community Fund to support local organizations.

“The co-op is delivering fantastic value to our members, and we’re proud to be able to distribute patronage capital refunds to members for the fourth year in a row. This is truly a team effort that reflects the hard work and dedication of employees across the company,” said Christine Hallquist, CEO.

For more information about VEC Patronage capital, visit VEC’s website at www.vermontelectric.coop or call, 1-800-832-2667.