Adams Electric returns $1.8 million to members


The Adams Electric Cooperative board of directors returned $1.8 million in Ownership Awards to 33,000 current and former members, according to a company news release.


The money being returned represents a loan of capital to the cooperative for routine operations and expansion, with the understanding that the loan will be paid back to members in subsequent years as Ownership Rewards.

Rewards which go unclaimed, either because a former member cannot be located or the estate is not reconciled, are held for three years and then used to fund college scholarships and members' assistance programs.