Your September bill will show a credit representing your share of $3.63 million the co-op is returning to current and former CCEC members.
Capital credits are unique to the cooperative business model. Unlike other types of companies, CCEC and other cooperatives do not have shareholders who expect to make money from the company’s profits. We are a not-for-profit business that exists solely to provide electric service to our members.
When you pay your bill each month, you are contributing to the equity, or your share of ownership, of the cooperative. The funds allocated to each member’s account are used to fund capital needs for items such as power line construction, transformers, trucks, inventory and other equipment. Capital credits also help keep rates at an affordable level by reducing the amount of funds the co-op borrows to maintain and grow its electric distribution system.
When the co-op’s financial status allows, the board of directors will vote to return a portion of capital credits to the membership through a capital credit retirement.
This year’s retirement is for the years 1997 through 2022. Current members will receive a credit on their September bill. Former members will receive a check near the end of September.
How do capital credits work?
Don't miss your slice of the cooperative pie!
We have more than $1.8 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 it's important for you to let us know your address and other contact information any time 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.