PICKENS — In late April, Blue Ridge Electric Cooperative made a general refund of capital credits to its members. Checks totaling $1 million were mailed to those who received electric service from the cooperative in 1984 and 1985.
Blue Ridge has made 29 consecutive annual capital-credit refunds. Through the years, the cooperative has returned more than $19.2 million to its members.
Charles Dalton, Blue Ridge president and CEO, said regular payments of patronage capital enjoy the support of both the cooperative’s board of directors and management staff.
“Our not-for-profit status enables the cooperative ultimately to give back to its members any earned margins,” Dalton said. “It is our belief and hope that these dividend payments will have a positive impact on the local economy.”
Dalton added that each member receives a proportionate share of the total refund.
“The dollar amount of the individual member’s capital-credit check is based on the cumulative kilowatt-hours consumed and purchased at that particular metered location during the 1984-85 operating period,” he said.
Blue Ridge serves a five-county area in upstate South Carolina.