First Electric returns more than $9 million to members in 2017
First Electric Cooperative is a service-driven electric provider, not a profit-driven one. As such, we return any profits to you – our members – in the form of capital credits.
What are capital credits?
Revenue collected that is not needed to cover the cost of providing service is assigned back to members based on the amount of electricity used during the year. The First Electric Cooperative Board of Directors reviews the cooperative’s financial position each year and determines the amount of capital credits to refund. The amount of money members receive is based on how much electricity they used during the year or years that are being refunded.
Capital credits returns your money back to you.
How much is the co-op returning this year?
First Electric is retiring $9,009,418 in 2017. That brings the total returned to members to more than $95.6 million since First Electric began the practice in the 1940s.
Will I get a refund?
This year’s capital credits calculation represents a complete retirement of 1992 through 1995 and a portion of all years from 2005 through 2016. If you did not receive electric service from First Electric during this time, then you will not get a refund. Members who are eligible for a refund will receive it in December. If your refund is less than $30, then it will be shown as a line item on your December bill. If your refund is $30 or greater, then you will receive a check in the mail.
Where do I get more information?
Please call 800-489-7405 during regular business hours to speak with a member service representative.