Co-op returns $1.58 million to members in November
by General Manager Steve Stroshane
During a recent visit with a local chamber of commerce, I was asked what makes an electric co-op different than other types of utilities.
First and most important, is that our members (You) are at the center of everything we do. Everyone who pays to receive electricity from the co-op is a member, and our success is based on your satisfaction. As a member-owned co-op, we listen to what you have to say about our performance and meeting your expectations. We gather feedback in person, over the phone, on social media and through our annual email survey.
Another key difference is that co-op decisions are made locally, by directors who live in our community. My October column shared that local governance is the co-op way.
And third, our electric cooperative is not in business for profit. Any revenue left after expenses is allocated and returned to you, according to our cooperative principles. Instead of returning money to distant shareholders, we return Capital Credits to the local members we serve.
Capital Credits are a benefit of your electric co-op membership
This month, I'm pleased to announce that Polk-Burnett Electric Cooperative will return $1,582,256 in Capital Credits. If you purchased power in 1999-2002 and/or 2020, you'll get money back.
Capital Credits will be distributed to 17,168 active members and 8,121 former members. Active members will receive a credit on November electric bills. Former members will be mailed a check of $10 or more; lesser amounts will be left to accrue for future payouts. The amount of your distribution is based on how much electricity you purchased during those years.
For more information about Capital Credits and the benefits of cooperative membership, visit our Capital Credits webpage or call us at 800-421-0283, ext. 335. We're happy to answer your questions.
Co-op members may donate future Capital Credits to the co-op scholarship fund; contact our billing office, 800-421-0283, ext. 335, or enroll here on our website.
