Tuesday, 07 September 2010 14:28
What are Capital Credits?
As a member of West Central Electric Cooperative, this is your business. While other electric consumers are paying some huge corporation for their electricity, WCE members are basically paying themselves for their own electricity.
After operating expenses for the co-op are met each year, any funds (profits) that remain are assigned to the members in the form of capital credits. Capital credit allocations are your share of the amount paid for actual electric service, which is based on the cost of your electricity for the year.
Capital Credits are the cooperative's equity. They make it possible to secure loans and maintain facilities and services. When the equity level is high enough, the board of directors authorizes the disbursement of capital credits.
It is important that members keep WCE informed of their current address when they move so we will know where to send their capital credits check when their years come around. We do not issue checks to members when they move from our lines, as it is a violation of our bylaws. In the event of the death of a member or former member, the credits in that person's name may be refunded if the account was in the deceased person's name only.
As of December 31, 2011, West Central Electric
has repaid $19.6 million in capital credits to its members !
How do I get my money?
For more information, contact