VEC Announces Distribution of $1,000,000 in Patronage Capital to Member-Owners in 2017

October 2, 2017

Johnson, VT- Vermont Electric Cooperative (VEC) has announced a distribution of $1,000,000 in patronage capital funds. This will be the fifth consecutive year that VEC members have received a patronage capital distribution with a total distribution of $3,350,000 in patronage capital dollars to active and former members over those five years.

Patronage capital was 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 that works in support of local organizations.

Patronage capital is a distinct advantage of cooperative membership. It is a member-owners share of the remaining funds after the cooperative utility pays its operating expenses. 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.

“We are so proud that the co-op is in a strong financial position and that the Board of Directors has been able to distribute patronage capital for the past 5 years. Our employees continue to find ways to deliver outstanding service and innovative solutions to our members in a cost effective way. We will continue to work hard to continue to do that in the years to come.” said Christine Hallquist, VEC CEO.

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

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