If you received a capital credit payment, you’ll see it listed as a credit on your bill. WCEC has several billing cycles. The credits will appear on bills mailed from December 6, 2018 through January 2, 2019. Your bill has been reduced by the amount of the credit.
Instead of mailing checks, the bill credit process is eco-friendly and eliminates costs associated with sending checks. As a non-profit electric cooperative, WCEC strives to keep your bills low. One of those ways is to adopt efficiencies. This one reaps costs savings, while simplifying the process for the cooperative and members both.
In total, over the last 28 years over $24 million has been returned to our members for a tremendous positive impact on our local economy.
Capital credits represent a member’s capital investment in WCEC, based on their electricity purchases. Each year, the board of directors of WCEC analyzes the financial condition of the cooperative. Then, they determine what amount can be paid to members from the capital credit accounts. It’s based on the previous year’s margins, and the current financial needs of WCEC. This is called “retiring” capital credits.
This year the board retired $1 million, or 39% of 2017 margins (annual revenue minus expenses). Credits earned are not a vested interest in the cooperative. They are only paid out when capital credits on the books are retired. The amount of retired capital credits paid to each member varies depending on the amount of electricity purchased and the number of years as a member of the cooperative.
As a reminder, be sure to inform us of any mailing address change to ensure timely receipt of any future cash payments. If you have such a change or a question about your check, please email us a note at email@example.com, or call one of our Member Services Representatives at 903-763-2203.