Our Board of Trustees and our employees understand how rising electricity costs, of which we have little control in today’s economy, affect members’ budgets. The Board and employees have consistently worked to hold down operating expenses, without sacrificing service, so our members would receive their capital credit refund this year. I want to publicly thank the Board and employees for their efforts on our members’ behalf.
Does the LREC owe you money?
Lynches River is able to return capital credits to its members after the board has determined the cooperative’s finances are sound. Capital credit funds are derived from margins, money Lynches River has left over at the end of the year after the co-op has received all revenue and paid expenses.
Capital credits are allocated to members and held in their accounts for a predetermined amount of time. During that time Lynches River uses the capital credits to pay for new construction, storm repair, and other expenses. Using capital credits in this manner reduces the amount of money Lynches River would need to obtain from other sources.
Lynches River Electric Cooperative is a member-owned electric cooperative committed to delivering reliable electric energy and related services at a competitive price, which will improve the quality of life of its customers and communities.