For the third year in a row, Kenergy’s Board of Directors has voted to retire patronage capital, which is a tangible demonstration of members’ ownership in the cooperative.
In June, Kenergy will return $3.11 million to its member-owners in the form of a general capital credit retirement. The cooperative returned more than $3 million to members in 2013 and nearly $2 million in 2012.
Not all active members will be eligible for this year’s retirement, which is being made to current and former members who bought electricity from the co-op during 1983 and 1984.
One hundred percent of the margin from 1983 will be returned to members. Fifty percent of the margin from 1984 will be retired.
Members who bought electricity from kenergy during those years will see a credit on their bills in June. At this time, Kenergy continues to calculate amounts to be applied to accounts. After members receive their June statements, they may call with questions.
Former members will receive patronage checks in late May.