Adams Electric’s board of directors voted in February to return $2 million in Ownership Rewards to current and former cooperative members, which brings the amount returned for all years to nearly $48 million.
“It is our pleasure to reward our member-owners in this way, especially this year, as we know members may still be struggling due to the pandemic,” says Board President Glenn Bange. “The retirement of $2 million to our local communities and economy through our members helps us to fulfill our mission of improving the quality of life in the communities we serve.”
Issued as a check mailed in March, Ownership Rewards are a benefit of being a current or former member-owner of an electric cooperative. For more than 50 years, members have received a return on their investment in Adams Electric based upon their share of the cooperative's net profits. Members who move off co-op lines will continue to receive Ownership Rewards until their investment is completely returned.
Recipients may choose to donate these rewards back to other cooperative members in need, through the co-op’s Project Helping Hand (PHH) program. Current and former members may forward their Ownership Rewards checks by signing the back, indicating for deposit to ACCF PHH, and returning the check to Adams Electric. All PHH donations will receive an acknowledgement letter at year’s end from the Adams County Community Foundation, which helps administer PHH program funds.
For more information on Ownership Rewards of Adams Electric, or the cooperative, call 1-800-726-2324.
Adams Electric Cooperative is a not-for-profit, member-owned electric distribution utility serving 33,500 member-accounts in Adams, Cumberland, Franklin, Perry and York counties. Adams Electric is an equal opportunity provider and employer.