Profits are returned to members
Verendrye Electric is a not-for-profit organization. That means any margins, or revenues remaining after all expenses have been paid, are returned to the members in proportion to their usage of the co-op’s services. The amount of capital credits (equity) a member holds depends on how much electricity the member purchases each year.
Verendrye Electric Cooperative holds on to capital credits to use as working capital. Capital credits help Verendrye meet expenses of the co-op, such as paying for new equipment and repaying debt, and our lender, the Rural Utility Services (RUS), requires us to hold onto a percentage of capital credits.
Each year the Verendrye board determines the amount of capital credits to be returned to members based on the financial condition of the cooperative and debt to equity ratios required by the RUS. When capital credits are retired, payments are issued to members.
Check the Unclaimed Capital Credits list to see if you know a member on the list. If you know a member on this list, please have them contact us.
All capital credit inquiries can be made by calling 1-800-472-2141.
Unclaimed Capital Credits
Listed below are names of former Verendrye Electric Cooperative, Inc. members who had capital credit checks mailed to them in June 2019. These checks have either been uncashed or returned to Verendrye Electric Cooperative by the postal service.
If your name is on this list, please contact our office. If you know of the whereabouts of any member on this list, please have them contact us. All capital credit inquiries can be made by calling 1-800-472-2141.
Notice is hereby given that any unclaimed capital credits outstanding following the notice given in the last month will be forfeited pursuant to Section 10-15-34.1 and 10-15-23 of the North Dakota Century Code.
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