Cherryland Electric Cooperative members will soon receive a record-breaking refund. The Grawn-based cooperative’s board of directors voted Monday to return capital credits worth $3 million to Cherryland members. That’s the most ever returned to members in the cooperative’s 75-year history.
“It’s all part of the way an electric cooperative works, since we are owned by our members,” says Cherryland general manager Tony Anderson. “Part of our mission as a cooperative is to maintain the financial stability of the utility. Once we have done this, it is simply our duty to return money to the owners of the cooperative.”
The capital credit refunds for active members will be applied as a credit toward their October bill. Those who were Cherryland members in 1991, 1992, 1993 and 2012 but aren’t members anymore will receive their refund in the form of a check.