Holy Cross Energy mails out $4 million in equity refunds | VailDaily.com
YOUR AD HERE »

Holy Cross Energy mails out $4 million in equity refunds

Enterprise staff report

Holy Cross Energy’s Board of Directors recently declared a Member Equity distribution refund of more than $4 million to members who purchased electricity from Holy Cross Energy in 1999.

More than 29,300 current and former members should receive their member equity checks by mid-December. Refunds less than $10 will be posted as a credit on upcoming member electric statements.

Membership with Holy Cross Energy entitles all members to share in its success. Distribution of member equity is a unique and important part of the cooperative philosophy. As a not-for-profit entity, Holy Cross’s mission includes providing electric service at a reasonable cost and returning profits or “margins” remaining after operation expenses back to its members.

“Member equity is a cornerstone of the cooperative way of doing business,” explained Michael Glass, board president of Holy Cross Energy. “The Board of Directors understands the hardships our members are facing in these difficult economic times and is pleased to be able to again return margins despite the many challenges currently confronting our industry.”

Support Local Journalism

Holy Cross Energy is a rural electric distribution cooperative organized in 1939, providing electric energy to more than 55,200 services in Eagle, Garfield, Pitkin, and portions of Gunnison and Mesa counties.


Support Local Journalism

Readers around Vail, Beaver Creek and Eagle Valley make the Vail Daily’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.

For tax deductible donations, click here.
 


Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User