Southern Pine Returns $2.5 Million to Members

Southern Pine announced that its members will receive $2.5 million in capital credit refunds for the 2011 fiscal year.

The refund checks will be mailed starting in mid-December.

Checks will be issued for amounts $25 and over. Members getting less than $25 will receive a credit to their account. The amount of the check is based on the amount of electricity each member used in 2011.

"For a member, capital credits are a benefit that is unique to a not-for-profit cooperative," said General Manager Donald L. Jordan. "This money represents the amount remaining after all operating, maintenance and general expenses are deducted from the total amount members paid on their electric bill during the fiscal year."

To date, Southern Pine says it has returned more than $43 million in capital credits to its members.

Southern Pine owners have a share in the earnings of the electric cooperative and rates are set so the association has enough revenue to operate, make payments on loans, and has reserve funds to make upgrades to the system and for emergencies.

Southern Pine, which is headquartered in Taylorsville, distributes electricity to 65,000 meters in 11 counties in central and south Mississippi. It also has offices in Brandon, Hattiesburg, Newton and New Hebron.