The board of trustees recently authorized the distribution of capital credits totaling $2,088,908. Your cooperative will retire the remainder of capital credits for 2007, and 25% of 2021.
The capital credit refunds will be issued in the form of a check or a credit on your electric bill. If your assigned capital credits total is less than $75, you will receive your refund as a credit on your bill during late April (for billing cycles 3 and 4) or early May ( for billing cycles 1 and 2) . For those refunds over $75, a check will be mailed in early May.
Capital credits are a benefit of membership in a member-owned utility. Each year we use the revenues that exceed costs as equity. These funds and borrowed capital allows your cooperative to serve a growing number of members while implementing the latest technology to provide the best service possible. The cooperative later returns these revenues to the members who originally paid them in their electric bills.
We are very proud that we are able to return capital credits. It is a reflection on the financial strength and stability of your cooperative and that’s something in which we can all take pride.