Annual Capital Credits are a benefit of your electric co-op membership
by General Manager Steve Stroshane
In October, we recognized National Co-op Month and reflected on what makes an electric co-op different than other utilities and businesses. First and most important is you. Our cooperative is owned by you and exists to serve you. Everyone who receives electricity from Polk-Burnett Electric Co-op is a member-owner.
Another key difference is that co-op decisions are made locally, by board directors who live in our community. Our electric co-op board is made up of nine co-op members who are elected by the membership.
A third advantage is that our electric cooperative is not in business to generate profit. Any revenue left after expenses is allocated and returned to members as Capital Credits. I'd like to share more about Capital Credits with you in my column this month.
Co-op returns $1.8 million to members, see your November electric bill
I'm happy to announce that Polk-Burnett Electric Cooperative will return $1,813,166 to members this year! Our 2026 Capital Credit retirement is payable to members who purchased electricity in 2003 and 2004. If you were a Polk-Burnett member those years, you will get money back!
Capital Credits will be distributed to 17,500 active and former members who purchased electricity in 2003 and 2004. Active members will receive a credit on November electric bills. Former members will be mailed a check if their Capital Credits are $25 or more; lesser amounts will be left to accrue for future payouts.
Capital Credit amounts are based on how much electricity was purchased by the member in 2003 and 2004.
Even if you don't receive a Capital Credit distribution this year, you earn allocations on your account each year that you are a Polk-Burnett member. When you become eligible for a distribution, you'll receive a bill credit, or a check if you've moved away, so please keep your mailing address up to date. Learn more about Capital Credits on our website or contact us, 800-421-0283, ext. 335.
Make sure you receive your Capital Credits, keep contact information up to date
Make sure you receive your Capital Credits and the best service from Polk-Burnett by keeping your account information current. In addition to returning Capital Credits, there may be times when we need to contact you about a power outage at your location. If we have your cell number, we will send you an outage text when your electricity goes out. Update contact information on SmartHub, by phone, 800-421-0283, ext. 335, or on our website.
Polk-Burnett scholarships are funded with unclaimed Capital Credits, not rates
While we are talking about Capital Credits this month, it's important to know that Polk-Burnett scholarships are funded by the generosity of members who donate Capital Credits and with unclaimed Capital Credits (checks that were not cashed or returned to us as undeliverable).
Co-op members may donate future Capital Credits to co-op scholarships. If you'd like to support education for students of co-op families with your Capital Credits, please contact us for assistance, 800-421-0283, ext. 335, or enroll on our website.
