Pedernales Electric Cooperative Board Changes How Unclaimed Capital Credits Are Released
Posted on Jul 1, 2011 in Corporate Governance, Financing | Comments Off on Pedernales Electric Cooperative Board Changes How Unclaimed Capital Credits Are Released
The board of Pedernales Electric Cooperative, the largest electric distribution cooperative in the United States, has voted to change how it releases unclaimed capital credits to the state of Texas. The coop will continue taking steps to return $4.2 million in unclaimed money to members by publicizing on its website a list of the names of members who have not yet collected the money they are due, most of which comes from uncashed capital credit checks. The coop says its new rule will help former member-owners get access to the funds without having to deal with state paperwork. To read more about the board’s initiatives, click here.
