Important Member Update: Capital Credits Are Being Returned To You

As a member of Wiregrass Electric Cooperative (WEC), you’re also an owner. This means that you have a stake in the co-op, based on the portion of services you purchase.

Capital credits represent your share of the cooperative’s margins — the revenue left over after all operational costs are covered. These credits are a tangible reflection of your ownership and investment in the co-op. Each year, a portion of these capital credits are “retired” in a board-approved action and returned to members like you, past and present.

This year’s distribution:

• This year, we retired the remaining 50% of capital credits from 2004 and 100% of the credits from 2005.
• Approximately $2,592,956 is being returned to members.
• If you are an active member, you should have seen a credit on your primary account between August 27 and September 17.
• If you are no longer an active member, checks were mailed to your last known address around September 6. The checks are issued in the member’s name on record.

What This Means

The retirement of these credits is an example of Members’ Economic Participation, 1 of our guiding 7 Cooperative Principles. This action will benefit roughly 6,441 active accounts and result in about 4,361 checks for inactive members.

Questions?

For any inquiries or clarification, please don’t hesitate to contact us. We’re here to help.

Our team is committed to accurately managing and distributing capital credits, a fundamental part of our cooperative structure. Returning these funds is an obligation we fulfill to ensure that our members receive their rightful share of the cooperative’s margins. This distribution is integral to how we operate and serve our member-owners. —Misti Dixon, Vice President of Finance and Accounting