Paulding Putnam to distribute money

Submitted information

PAULDING — Paulding Putnam Electric Cooperative’s Board of Trustees voted to return $1 million to the Cooperative’s member-owners over the next month. The money is being returned to members in the form of capital credits, also known as profits or margins. Because PPEC is a non-profit utility, margins are returned to the people the cooperative serves.

Capital credits will be distributed to members through a credit on their electric bill.

“This process is what sets us apart from other utilities; we’re not in business to make a profit for shareholders,” said George Carter, CEO and general manager of PPEC. “If there is leftover money, we give it back to members. We return the money to members around the holidays because that’s when many people need it the most.”

Over the past five years, Paulding Putnam Electric has returned nearly $4.7 million to members. Anyone with questions about their capital credit refund should call PPEC at 800.686.2357.

Paulding Putnam Electric is a member-owned electric utility serving over 12,900 member-owners in Paulding, Putnam, Defiance, Van Wert and Allen counties in Ohio, and Adams and Allen counties in Indiana.

For more information visit the cooperative’s website at www.PPEC.coop or follow it on Twitter or Facebook.