Corn Belt Energy retires $7.5 million in capital credits
BLOOMINGTON — Corn Belt Energy officially announced the retirement of $7.5
million in capital credits to cooperative member-owners, the largest single retirement in the co-op’s 75-year history. Chairman of the Board Rae Payne made the announcement during the co-op’s 75th annual meeting at Central Catholic High School in Bloomington on June 21.
“Returning capital credits to members is an important part of cooperative ownership, and we’re excited to announce the $7.5 million retirement during our historic 75th annual meeting,” said Payne.
A total of $4.5 million will be returned to members who were on co-op lines in 2010, 2011 and/or 2012; they will receive a portion of their capital credits allocation from those years. A total of $3 million will be returned to those who were Corn Belt Electric members from 1971 to 1982 (Champaign, DeWitt, Ford, Livingston, Logan, Macon, McLean, Piatt, Tazewell and Woodford counties) and those who were Illinois Valley Electric members from 1961 to 1968 (Bureau, Henry, Kendall, Knox, LaSalle, Marshall, Putnam and Stark counties).
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