Wood County Electric Cooperative Inc. to Disperse
$1.5M in Capital Credit Checks
The Board of Director’s of Wood County Electric Cooperative (WCEC) voted to retire $1.5M dollars in capital credits for 2007. That means WCEC will return $1.5M to members. Checks will be mailed no later than December 14, 2007. Check amounts will be different for each member, and are based on that member’s accumulated patronage. They represent each member’s ownership stake in the cooperative. Generally, those with higher electricity usage and longer memberships will see larger checks. Checks can range anywhere from $10 upwards.
However, no checks for less than $10 will be sent out. Any amount less than $10 will be retained by the cooperative for disbursement the next time capital credits are retired and the amount exceeds the $10 minimum. Usually, it takes new members several years to build up enough credit for an amount sufficient to generate a check. So, it is important to note that not all members will receive a check. Other reasons members may not receive a check include debt owed or insufficient address information. Those believing they should have received a check, but did not, should call the cooperative after January 1, 2008, to make an inquiry.
“At WCEC, the Board of Directors and the management team remain committed to operating in the cooperative spirit. Part of that method includes investing in infrastructure wisely in order to offer reliable and affordable service. But, at WCEC, we equally value our member’s economic participation and we proudly have a history of returning margins after expenses,” said Debbie Robinson, CEO and General Manager. Over the past 20 years, WCEC has returned more than $17 million in capital credits to members.
Wood County Electric Cooperative, Inc. is a not-for-profit electric cooperative with the mission of providing member-customers reliable electric service at a reasonable rate. WCEC serves over 31,000 meters in parts of nine counties throughout northeast Texas, including Camp, Franklin, Hopkins, Rains, Smith, Titus, Upshur, Van Zandt, and Wood.
