Utility members to get payments

Some Central Electric Cooperative members will receive checks soon as the Redmond-based electric utility distributes about $1.4 million in capital credits payments, CEC announced Thursday.

Individual checks will average $108.14 and will be paid to 9,255 CEC members who bought power from the cooperative from 1989 to 1991, according to a news release. The amounts are based on electricity purchased during the period.

The 9,255 checks total about $1 million. Most of the remaining money is for customers who bought power during the three-year period but for whom CEC does not have an address on file, according to the news release.

The utility, which serves more than 25,000 members in seven counties, will list those names in The Bulletin and on its website for six months, starting in June, the news release stated.

CEC, a not-for-profit utility, has two options for raising capital, according to the news release, borrowing and getting it from members. The money obtained from members helps CEC reduce the cost of raising capital, and the savings gets returned to members.