Southern Pine Electric Power Association says members will receive $2.5 million in capital credit refunds from the 2010 fiscal year.
Refund checks will be mailed starting in mid-December. The amount each member will receive is based on the amount of electricity used in 2010. Checks will be issued for amounts over $25. Amounts $25 and less will be credited to the member’s account.
"Capital credits are one of the many benefits of being a member and an owner of Southern Pine," said general manager, Donald Jordan. "As a not-for-profit cooperative, capital credits represent 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."
In a news release, Southern Pine discussed a free Co-op Connections discount card that will be mailed to members in early 2012. The card will give discounts at local and national retailers.