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Nevada Coop Approves Award of Patronage Capital

Valley Electric Association (VEA) members voted on Saturday in favor of a bylaw change that will allow half of the coop's patronage capital to be paid out to current members. VEA's current bylaw policy disburses patronage capital on a first-in, first-out
May 10, 2011

Valley Electric Association (VEA) members voted on Saturday in favor of a bylaw change that will allow half of the coop's patronage capital to be paid out to current members. VEA's current bylaw policy disburses patronage capital on a first-in, first-out payment system. Last year, the VEA board approved the payment of $2.14 million in patronage capital to previous members - all those who were members in 1990 and 21 percent of those who were members in 1991. That was after VEA realized a net margin of $2.7 million in 2010, which it considered a profit. The patronage capital is based on kilowatt hour usage. More here.

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