2023 December NAEC Center Pages

NNOORRTTHH AARRKKAANNSSAASS EEL LEECCTTRRI CI C CCOOOOPPEERRAT ATI VI VEE

Izard County Consolidated School District's third grade takes a photo with new athletic shoes donated by North Arkansas Electric Cooperative (NAEC).

Third graders at Viola Elementary School show their new athletic shoes courtesy of NAEC's Sole Power Project.

Third graders receive shoes from NAEC Local third-grade students are playing in new athletic shoes courtesy of North Arkansas Electric Cooperative’s Sole Power Project.

TORI MOSS

The service project began 10 years ago as a way to help third graders in local public schools. The Sole Power Project demonstrates NAEC’s concern for community, which is one of the seven cooperative principles by which NAEC and other co-ops operate.

Melbourne Elementary School students receive new athletic shoes through NAEC's Sole Power Project.

Students in the following school districts received shoes in November: Calico Rock, Cave City, Cotter, Highland, Hillcrest, Izard County Consolidated, Mammoth Spring, Melbourne, Mountain Home, Norfork, Salem and Viola.

More photos from this year's shoe deliveries are posted on NAEC's social media. See them at facebook.com/NorthARElectric.

2023 22 22December ARKARK ANSAS ELECELEC TRICTRIC COOPERATIVE DECEMBER 2023 NORTH NORTH ANSAS COOPERATIVE

Osmose begins pole inspections

JUST TREATS

North Arkansas Electric Cooperative (NAEC) has contracted with Osmose to inspect electric poles in select areas of Baxter and Izard counties.

Members might see Osmose employees in and around the following areas: Franklin, Horseshoe Bend, Lakeview, Lone Rock, Melbourne, Mountain Home, Norfork, Salesville and Violet Hill, among others. They will drive trucks and wear apparel with the Osmose logo. Weather permitting, work should be completed in April.

TORI MOSS

These inspections allow NAEC to identify any damaged poles and either repair or replace them before they cause outages for members.

Affected members will receive notice by January through a postcard as well as an email if one is on file.

KRISSIKUNTERBUNT/ADOBE STOCK

NAEC line technician Chase Pleasant, wife Erica and their daughters, Cadence, 14, Ava, 7, and Nova, 4, help hand out candy at the trunk-or-treat around the Fulton County square on Halloween. NAEC employees also participated in the trunk-or-treat at Cooper's Park in Mountain Home.

MERRY CHRISTMAS!

HEADQUARTERS 225 S. Main St., Salem DISTRICT OFFICES 824 Hwy 56, Ash Flat 1520 Hwy 62/412 E., Mountain Home CONTACT NAEC (870) 895-3221 info@naeci.com PAY/VIEW BILL naeci.com ▶ Account Login REPORT OUTAGE (870) 895-3221 (844) 335-4461 NAEC App naeci.com ▶ Outage Viewer FOLLOW NAEC Twitter.com/NorthARElectric Facebook.com/NorthARElectric

Happy New Year!

NAEC's offices will be closed for the holiday Jan. 1.

A dispatcher will be on duty, and personnel will be on call in the event of an outage.

Report an outage by using the NAEC app or by calling 870-895-3221.

NAEC offices will be closed Dec. 25-26.

MORE CO-OP NORTH ARK ANSAS COOPERATIVEArkansas Living 23 23 ARK ANSAS ELECELEC TRIC TRIC COOPERATIVE More co-op news on NEWS pageON 26PAGE 26 NORTH

NNOORRTTHH AARRKKAANNSSAASS EELLEECCTTRRI CI C CCOOOOPPEERRAT ATI V I VEE N O R T H A R K A N S A S E L E C T R I C C O O P E R AT I V E

NAEC returning record $5.7 million in capital credits North Arkansas Electric Cooperative will return $5,739,127 in capital credits to members in December. This is the largest retirement in co-op history and marks the 36th consecutive year NAEC has refunded margins. NAEC has returned more than $49.5 million since the co-op’s founding in 1939.

What are capital credits?

Unlike investor-owned utilities, NAEC operates as a not-forprofit cooperative and is owned by the members we serve.

At the end of each year, the co-op subtracts, on a taxable basis, operating expenses from the amount of money earned through rates. The remaining balance is called taxable margins.

Taxable margins left over at the end of the year are allocated, or assigned, to each member’s account based on the amount of electricity for which each was billed.

Each member receives a capital credit certificate annually detailing how much of the previous year’s margins was allocated to his or her account. The capital is then retained by NAEC to use as operating capital for a period of time. This decreases the need to raise rates or borrow money to build, maintain and expand a reliable electric distribution system.

Every fall, the NAEC Board of Directors evaluates the overall financial condition of the co-op and decides the amount of capital, if any, to refund.

Will I receive a refund?

The retirement represents the remaining approximately 36% of the margins assigned for 1998, 100% of the margins assigned for 1999 and approximately 7% of the margins assigned for 2022. Only members who were billed for electricity during the years above will receive a refund in 2023.

How are refunds given?

Refunds will be distributed after Dec. 1. Members with a refund of less than $50 will receive a credit on their December statement. Members with a refund of $50 or more will receive a check in the mail.

Non-active members with a refund of more than $2 will receive a check in the mail as well. That is why it's important to maintain a current mailing address on file with NAEC if you ever move off of co-op lines.

Please call (870) 895-3221 or email info@naeci.com with any questions.

Members' small change leads to scholarships, grants If you would like to help fund scholarships to local high school graduates and grants to nonprofits, then please consider joining NAEC’s Operation Round Up® program.

Members who join Operation Round Up agree to have their electric bill “rounded up” to the next dollar amount each month.

Enroll by calling (870) 895-3221, visiting an NAEC office or completing the form at naeci.com/operation-round-up.

Some members support Operation Round Up by donating their capital credits refund. If you would like to donate your refund, then please endorse your check and mail it to NAEC at P.O. Box 1000; Salem, AR 72576. You also can drop it off at an NAEC office. Donations are appreciated and tax deductible.

22 26 DECEMBER 2023 22 December 2023 26

NORTH ARK ANSAS ELEC TRIC COOPERATIVE NORTH ARK ANSAS ELEC TRIC COOPERATIVE