Electric co-op giving $2 million in credits to members
Saturday, October 29, 2011
Co-Mo Electric Cooperative is returning more than $2 million to its active members in the form of credits on their electric bill either in late November or early December.
The cooperative’s board of directors also authorized the return of more than $800,000 to former members who last earned credits in 2000.
Since the cooperative was formed in 1939, the board of directors has authorized the return of more than $38 million to members.
“This is what separates us as a cooperative from other forms of businesses,” said Ken Johnson, Co-Mo CEO and general manager. “Any money we earn above and beyond the cost of doing business is allocated to our members and can then be returned to members after approval from the board. It’s the members’ money.”
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