Holy Cross co-op to distribute equity checks to members | PostIndependent.com

Holy Cross co-op to distribute equity checks to members

Holy Cross Energy is distributing nearly $1 million in 2004 member equity distributions to 37,000 customers.Residential members of the nonprofit, rural electrical cooperative will receive checks averaging $10-$20, and commercial members’ payments will average $75-$150.More than 18,000 consumers entitled to amounts less than $10 will receive credits on their electric accounts instead of checks.Holy Cross allocates any annual revenues that exceed expenses back to its members in the form of member equity. Member equity distributions for the year 2004 will be distributed in part now and in part in December 2017, based upon a 13-year distribution cycle. The utility has returned more than $34 million to members since June 2000. It returned nearly $5 million last year and plans to distribute $3.8 million from 1994’s allocations this December.Members who received service in 2004 and do not receive a member equity allocation notice by May 15 should contact their nearest Holy Cross office.Holy Cross Energy, which is headquartered near Glenwood Springs, serves more than 50,000 accounts in Eagle, Garfield, Gunnison and Pitkin counties.

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