Did you know that as a member of CCEC, you’re also an owner? That means when the co-op does well financially, you benefit. One of the ways we return value to our members is through capital credits.
What are capital credits?
Capital credits are your share of the co-op’s annual margins (money left over after we pay all operating expenses). Instead of going to outside shareholders, those margins are allocated back to you, our members, based on how much electricity you used and how long you have been a cooperative member.
How are capital credits allocated?
- You use electricity and pay your bill.
- The co-op covers expenses and invests in the electrical grid.
- If there’s money left over, it is allocated to members as capital credits.
- When financial conditions allow, the board of directors will retire or pay those capital credits back to members.
At the July board meeting, CCEC's Board of Directors approved the retirement of capital credits in the amount of $3.5 million. This amount includes retirements from the years 1999-2024.
Active CCEC members will see a credit on their September bill, while former members will receive a check. Since 1997, the cooperative has retired more than $56 million in capital credits to our members. Capital credits are a big part of what makes co-ops different from investor-owned utilities. We’re not here to make a profit—we’re here to serve you, our members.
Unclaimed credits
We have more than $2.56 million in unclaimed capital credits for former members, and we want to get that money back to them. When members move off our lines, they don't always give us their new address. If a current address for a former member is not available, the funds remain in their closed account. After three years, however, any unclaimed money is turned over to the state. That's why you need to let us know your address and other contact information anytime those change.
Visit ccemc.com/CapitalCredits to see a list of all members with unclaimed funds. If you see people you know, tell them to give us a call.
