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GVEC board returns millions in capital credits
GONZALES -- The board of directors of the Guadalupe Valley Electric Cooperative (GVEC) is pleased to announce a refund of $3 million in capital credits to GVEC members. The refund, which was distributed in July, is just one of the many benefits of being a member-owner of an electric cooperative.
The amount of refund for each member is based on the amount of electricity the member has purchased. Member bills were credited for refunds less than $25, and for refunds more than $25, members received a check by mail.
Receiving capital credits whenever financially possible is just one of the many benefits that makes the cooperative form of business so unique. By signing up for electric service, every consumer becomes a member-owner with the opportunity to share in the cooperative’s success.
“I’d like to thank our membership for their support and participation as member-owners of GVEC,” said GVEC board President Lewis Borgfeld. “We are ever mindful of our members’ needs and strive to make prudent strategic decisions that will benefit both the members and the cooperative.”
If GVEC members have questions, they can call 1-800-223-4832 or visit www.gvec.org, or view their July issue of Texas Co-op Power magazine.
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