The Beltrami Electric Cooperative is returning more than $1.7 million to its members.
According to a release, the Beltrami Electric board of directors approved paying more than $1.45 million in capital credits to current and former members and also paid out more than $260,000 in estate retirements.
“As a not-for-profit cooperative, margins are allocated to members based on their patronage,” said president and CEO Jared Echternach.
“Our goal is to provide member-owners with electricity at a price that is as close to cost as possible. over time, those margins are returned to members in the form of capital credits.”
Qualifying accounts include cooperative members prior to 2022 with an active billing account.
The funds will appear as a credit on upcoming electric bills.
Checks to former members will be mailed in mid-December.
