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Margins of the cooperative are assigned back to Central Rural Electric Cooperative members annually based on their electric purchases from the cooperative.
Margins, known as patronage capital, are retired each year and this process is what allows CREC to be classified as a nonprofit. Patronage capital is used as working capital for a period of time and then is paid back to the members when financially possible.
This year, the board of trustees approved the retirement (return) of $1,312,833 in general patronage capital to the cooperative’s members. Another $87,166 is estimated to be retired throughout the year to the estates of deceased members.
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To test the feasibility of cooperative meeting participation by video link, CREC tested the video chat application Face Time during the Nov. 15 aware meeting in Stillwater. The application allows video to be viewed in real time on an Apple computer or iPad.
Watch for information about future opportunities for members to attend meetings via video link.
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