East Central Energy members will see their capital credits refund reflected on bills due in December.
The ECE Board of Directors recently announced the co-op is returning over $1.1 million to members this fall in the form of capital credits refunds. Eligible members will see a bold blue line on their next billing statement that says, “Capital Credits Refund,” designating the amount of their refund. The bill will be reduced by the amount shown on this line.
Capital credits represent the investment members make in their cooperative. According to ECE’s bylaws, revenues that exceed expenses will be used as capital, in part to finance new construction and facilities maintenance, reducing the need to borrow money from other sources for capital improvements to the system. Capital credits are allocated to members each year based on the value of the service used by that member. They are put into each member’s Capital credits account.
The board of directors determines annually if there will be a refund, and if so, what portion of members’ capital credits can be refunded.
Members of ECE for more than one year will receive a capital credits refund on their bill. Members who have moved off the ECE system may receive a capital credits refund check, which will be mailed to the address ECE has on file. Former members should call ECE, 1-800-254-7944, if they believe the co-op does not have their current address.