For the 35th consecutive year, North Central Electric Cooperative's current and former members are receiving patronage capital credits refunds from their cooperative.

The North Central Board of Trustees approved a patronage capital credits refund of $689,373 at its November meeting. Including this year's refund, nearly $17.6 million has been refunded to members since 1980.

The cooperative annually retains margins to provide working capital for new construction equipment and system improvements throughout the cooperative's service area. When North Central retains margins, they are allocated back to the members.

The amount of each member's patronage capital is determined by how much electricity a member purchases over the year and the member's rate. The total amount of a member's refund will gradually increase the longer a member remains with North Central.

"Returning margins to our members is what sets cooperatives like North Central apart from other utilities," said Duane Frankart, North Central's Board of Trustees president. "The return of margins also sends a positive message to members that the cooperative is financially stable, and the board is doing its job effectively and efficiently."

Each year, the cooperative's financial condition is examined by the board of trustees to determine the refund amount.

For more information about capital credits or to view the 2014 Unclaimed Funds list click here.