Carteret-Craven Electric Cooperative’s strong operational and financial condition will again give members a capital credit refund on September’s bill.

You became a cooperative member-owner when you signed up to receive electric service from CCEC. Electric co-ops operate at cost, collecting only enough revenue to run and expand the business, unlike investor-owned electric utilities, which are designed to make a profit for shareholders.

While investor-owned utilities return a potion of any profits back to their investors, electric cooperatives allocate excess revenue, known as margins, to members as “capital credits,” and retire – or pay – them when the co-op’s financial condition permits. Our board of directors and staff work hard to manage expenses, so we can maximize returns on your investment in the form of capital credits. 

At the July board meeting, the CCEC Board of Directors approved the retirement of capital credits in the amount of $2,759,956. This amount includes retirements from the years 1998 - 2023. If you are an active CCEC member, the refund will show up as a credit on your September bill. Former members will receive a check.

Since 1997, CCEC has retired over $60 million in capital credits to our members. 

See if you have unclaimed cash

We have more than $2.21 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.