|9/4/2013 10:54:00 AM|
Nearly $4 million capital credits to be returned to PDEC members
Pee Dee Electric Cooperative is returning $3,804,970 in Capital Credits to its members for the years 2000, 2001 and 2012. Checks will be mailed in the first week of October. As a not-for-profit electric utility, members share in the success and efficiency of their cooperative.
Revenue received by PDEC over actual operating expenses is returned to the membership based on patronage. This money, approved by the Board of Trustees, is the result of the co-op’s constant adherence to prudent, sound management practices.
“The Board is pleased with the ongoing efficient management of resources and fiscally responsible operation of Pee Dee Electric Cooperative on behalf of the members,” said James A. Goodson Jr., Chairman of the Board of Trustees. “The trustees and employees never forget that our members are the most important part of our electric co-op.” Members receiving amounts less than $50 will see their credit as a line item on their bill.
This marks 37 consecutive years of Capital Credits returned by PDEC. Since 1993, Pee Dee Electric has returned over $73 million to its members. The Pee Dee region benefits as many of these dollars are spent locally, turning over in the local economy an average of four times. PDEC serves members in parts of Darlington, Florence, Marion, Dillon, Lee and Chesterfield counties.