![]() When the cooperative is strong enough financially and the member equity levels high enough, the board directs staff to refund past years' capital credits. In 2011, the Washington Electric Board of Trustees adopted an official policy stating that in May of each year, the board will make a decision whether or not to refund capital credits. For this reason, Washington Electric's ability to return margins to members in the form of capital credits reflects the cooperative's strength and financial stability. Both events might keep member equity low, causing the board to defer any capital credits refunds. During some years the co-op may experience high growth in the number of new accounts added or severe storms may result in the need to spend additional funds to repair lines. If you are aware of a deceased member who may have capital credits, please have the executor of the estate contact our office.Ĭapital Credits year, the Washington Electric Cooperative Board of Trustees makes a decision on whether to refund capital credits based on the financial health of the cooperative. Members have a period of two years after the names are published to claim their credits.Ĭapital credits are also payable to the estates of deceased members. For former members who have not kept their address current, the co-op publishes a list of names in the February and March issues of Ohio Cooperative Living magazine. Former members who have moved out of Washington Electric's service territory and have kept their mailing address current receive their capital credits in the form of a mailed check. ![]() Members who have active accounts receive their capital credits as a credit on their electric bill. These credits are accumulated based on the member's annual electricity purchases and are paid at the discretion of the Board of Trustees based on the cooperative's financial condition. ![]() One of the many benefits of being a member-consumer of a not-for-profit electric cooperative is that money left over at the end of a year is returned to members in the form of capital credits. ![]()
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