BURLESON - United Cooperative Services today distributed member dividends (also called capital credits) totaling $4.5 million to current and former member-owners in parts of 14 counties adjacent to the Dallas-Fort Worth Metroplex.
This marks the 30th consecutive year United has returned member dividend checks, this time to approximately 56,000 member accounts. Further, more than 18,000 additional members will see their dividends applied to their October bills.
“Since 2000, United has distributed more than $45 million in member dividends,” said United CEO Ray Beavers. “These member dividends represent the member-owners’ return on equity in United Cooperative Services,” he added.
When members pay their electric bill each month, they’re not only paying for the reliable service, but investing in the company in which they own. As a result of that equity stake in the business, United members share in cooperative margins. After paying for all operating costs for the fiscal year, members may receive a part of the money left over, which comes in the form of a member dividend check or credit on their bill if less than $20.
Electric cooperatives presently have only one primary source of equity capital, that which is contributed by the members. Member equity is the essential tool for United to build, maintain and upgrade the facilities necessary in providing reliable, affordable electric service to the cooperative’s membership.
“Receiving a member dividend demonstrates how our electric cooperative is united with and committed to its members,” said Beavers. “We consider it a privilege to serve our membership and will continue to do so with integrity, accountability, innovation and our longstanding commitment to community,” he added. “United’s electric rates are among the lowest in Texas—something the co-op hopes its members are as proud about as United’s 152 employees and the seven board members who direct the policies that exemplify what a member-owned electric cooperative embodies,” said Beavers.