Polk-Burnett returns $1.8 million to co-op members in November

Polk-Burnett Electric Cooperative will return $1,813,166 in Capital Credits to co-op members who purchased electricity in 2003 and 2004.

“If you were a Polk-Burnett member those years, you will get money back,” announced General Manager Steve Stroshane. “Instead of returning money to distant stockholders, Polk-Burnett returns Capital Credits to the local people we serve. Capital Credits are a benefit of your electric co-op membership.”

“As a member-owned, not-for-profit electric cooperative, Polk-Burnett operates at cost,” explained Stroshane. “Any revenue left after annual expenses is allocated and returned to members, according to our cooperative business principles.”

The amount of each credit is based on how much electricity was purchased by the member in 2003 and 2004.

Capital Credits will be distributed to 17,500 active and former members. 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.

“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,” said Stroshane. “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.”

Co-op members may donate future Capital Credits to the co-op scholarship fund to support education for students of co-op member families.

Learn more about Capital Credits for electric co-op members.