CCEC members and former members are getting a second capital credit retirement, totaling more than $2.6 million.
Current members will see a credit on their September bills. Former members will get a check toward the end of the month.
The CCEC Board of Directors retired a portion of this year’s capital credits early, in May, to give members some economic relief during the coronavirus pandemic. Members and former members received a total of $2,960,080. They approved the second retirement of in July.
“The capital credit refund total this year is $5,591,069,” said Junior Accountant Veronica Johnson, who manages the retired capital credits. “That is the largest amount the co-op has ever retired, and we hope the additional money is a help to those who have faced financial struggles during this unprecedented time.”
Anyone who has been a member of the cooperative between 1994 and 2019 earned a refund. Current members will get a credit on their bills. Former members will get a check in the mail.
Learn more here.