Umatilla Electric Cooperative members who purchased power in 2019 and 2021 will receive a refund in March as part of the utilities Capital Credits program.
At its February meeting, UEC’s Board of Directors approved $6 million to be refunded to UEC’s members, which represents a portion of the cooperative’s 2019 and 2021 margins.
“The return of Capital Credits reflects UEC’s financial strength and stability and provides a means to inform members about the cooperative difference,” said Robert Echenrode, UEC General Manager and CEO. “One of the best features of a rural electric cooperative is being able to invest in and support our local communities.”