Nevada Coop Approves Award of Patronage Capital
Posted on May 10, 2011 in Patronage Capital | Comments Off on Nevada Coop Approves Award of Patronage Capital
Valley Electric Association (VEA) members voted on Saturday in favor of a bylaw change that will allow half of the coop’s patronage capital to be paid out to current members. VEA’s current bylaw policy disburses patronage capital on a first-in, first-out payment system. Last year, the VEA board approved the payment of $2.14 million in patronage capital to previous members – all those who were members in 1990 and 21 percent of those who were members in 1991. That was after VEA realized a net margin of $2.7 million in 2010, which it considered a profit. The patronage capital is based on kilowatt hour usage. More here.
