Electric cooperatives aren’t like other utilities. You, as a consumer and a member, own a portion of the business. One benefit of that membership involves the allocation of excess revenue, called margins, in the form of capital credits.
Electric co-ops operate at cost — collecting enough revenue to run and expand the business but with no need to generate profits for distant shareholders. When your REMC has money left over, it’s allocated back to you and to other members as capital credits. When the co-op’s financial position permits, the co-op retires, or pays, the capital credits to members in the form of a check that is mailed to the member. The amount of each allocation and retirement is based on how much electricity individual members used during that period.
This year, our board of directors will refund approximately $1.2 million to those who were members of Clark County REMC from 1990-2000. Look for your check early this month.
It is always nice to receive money back for just being a member, especially this time of year. On behalf of all of our employees and directors, I would like to thank you for being the most important part of our electric co-op. Providing safe, reliable and affordable power for you, our members, has been our number one priority since the co-op was incorporated in 1939, and it will continue to be our main mission for generations to come.
We look forward to serving you in 2018 and in many years ahead. From all of our employees, myself and the board of directors: Happy holidays to each and every one of you. We wish you a safe and joyous holiday season!
DAVID A. VINCE
Your check is in the mail!
If you were a member of Clark County REMC during the years of 1990 to 2000, your capital credit check is on its way.