FORMAN, N.D. (NewsDakota.com) – The Dakota Valley Electric Cooperative (DVEC) board of directors has approved a general retirement of over $1.7 million in capital credits, to be distributed to current and former members in early December.
Since 2010, the cooperative has returned nearly $22 million in capital credits to its members. By the end of 2024, DVEC estimates it will have retired an additional $360,000 to estates of deceased members and former members who opted for a buyout of their capital credits.
This year’s general retirement covers unretired capital credits allocated to members who received electrical service through 2007, according to Kelly Wald, the cooperative’s business manager. Wald noted that members who consumed more electricity during the covered years will receive larger capital credit retirements.
Amounts under $200 will be applied to December electric bills for current members. Amounts of $200 or more for current members will be issued as checks in mid-December. Checks for former members will be mailed to their last known address.
For more information, members are encouraged to contact Dakota Valley Electric Cooperative.