Bluebonnet Gives Back $4.7 Million To Its Members
Bluebonnet Electric Cooperative returned $4.7 million in dividends to its members in May. The dividends, called capital credits, are paid each year and represent the members’ share of ownership in the cooperative. “For more than 38 years in a row Bluebonnet has lived up to the cooperative principles and returned money to its members,” said Rick Schmidt, Bluebonnet board president. “We will continue to use the revenue needed to provide safe, reliable electricity and return what we don’t use to our members. That’s the advantage of being a member and owner of a cooperative.”
The amount members receive depends on how much electricity they used in the previous years and how long they have been a Bluebonnet member. Current members received refunds on their May electric bills. Former members who are still owed a capital credit will receive a check in May or June. Bluebonnet is a member-owned, nonprofit utility. Paying capital credits is how Bluebonnet returns the revenue it collects above what it costs to operate the co-op. During the last four years, Bluebonnet has returned more than $15.7 million to its members. Bluebonnet Electric Cooperative is one of the largest electric cooperatives in Texas and has been serving its members since 1939. Bluebonnet serves more than 81,000 meters and owns and maintains 11,000 miles of power lines, located across more than 3,800 square miles within 14 Central Texas counties. Bluebonnet’s service area stretches from Travis County to Washington County, and from Milam County down to Gonzales County.