5/21/2018
SWEPCO, Commissioner Campbell Deliver Additional $31,500 Donation to NSU
The check was presented on Friday, May 18, 2018

Natchitoches, La. (May 18, 2018) – Public Service Commissioner Foster Campbell has presented an additional $31,500 in aid to Northwestern State University arising from the purchase of the Valley Electric Cooperative by SWEPCO in 2010.

Campbell on Friday presented NSU President Chris Maggio with a check for $31,500 to supplement $231,000 already donated by SWEPCO.  Maggio said the total to date of $262,500 from Valley/SWEPCO is being used to match $80,000 in State Board of Regents funding, bringing the total budget impact to $342,500.

NSU is using the funds for university endowments, scholarships and grants.

The Valley/SWEPCO money originates from Valley Electric capital credits accumulated over the co-op’s 70 years of service.  After buying Valley Electric in 2010, SWEPCO refunded $25 million in capital credits owed to the families and businesses that were Valley members.

 “Efforts to locate co-op members who were owed money are completed, and at my request the Public Service Commission has dedicated the remaining one percent to NSU,” Campbell said.

In 2015, on the fifth anniversary of the Valley-SWEPCO transaction, Campbell said the former Valley members had saved $64 million on their electric bills since SWEPCO bought the co-op in 2010.

 

Compiled from Foster Campbell news release.

 

Image caption: Left To Right – NSU Associate Director of Development Jill Bankston, NSU Vice President of External Affairs Jerry Pierce, SWEPCO State Government Affairs Manager Emile Cordaro, Louisiana Public Service Commissioner Foster Campbell, SWEPCO Vice President of External Affairs Brian Bond, NSU President Dr. Chris Maggio, NSU Dean of the College of Business and Technology Dr. Margaret Kilcoyne

 

Media Contacts:
Public Service Commissioner Foster Campbell: Bill Robertson, (318) 676-7464
Northwestern State University: Drake Owens, (318) 357-4262
SWEPCO: Sara Hebert, (318) 673-3532
The check was presented on Friday, May 18, 2018