Look at your bill from November 20 - December 15 to see if you recieved a capital credit payment this year!
Your Cooperative is a not-for-profit, member-owned electric utility. As a co-op, our business structure differs greatly from that of investor-owned businesses. For example, our not-for-profit structure means that when we receive excess revenue (the amount of money collected from members beyond what is necessary to meet expenses), we allocate that excess for future return to our members as “capital credits.” After the capital credits are allocated, your Co-op uses that retained money for expenses like bucket trucks, poles, and wire. This saves the cost of the interest that would otherwise be incurred by taking a bank loan. Then, a few years down the road, the allocated capital credits are returned to members, usually as bill credits.
This year, your Board of Trustees voted to retire a percentage of the capital credits allocated to member accounts in 2009 and 2010. The total amount of capital credits being retired to members is approximately $3.7 million! Check out your bill issued between November 20 and December 15 to look for yours.
