Capital Credits: It Pays to be a Co-op Member
Polk-Burnett returns $1,057,342 in Capital Credits in September 2018 to active and former members who purchased electricity in 1990, 1991, 1996 and/or 2015.
Polk-Burnett Electric Cooperative will return more than $1 million in Capital Credits this year, including $860,000 to co-op members who purchased electricity in 1996 and/or 2015, and $197,342 from our wholesale power provider, Dairyland Power Cooperative, to members who purchased power in 1990 and 1991.
“If you were a Polk-Burnett member those years, you will get money back,” announced General Manager Steve Stroshane. “Capital Credits are distributed annually and are a direct benefit of cooperative membership.”
Capital credits will be distributed to 16,500 active members and 7,300 former members. The amount of each distribution is based on how much electricity was purchased by the individual member during those years.
Active members will receive a credit on September electric bills; this is a change from past years when members received a Capital Credit check in the mail. Former members will be mailed a check of $10 or more; lesser amounts will be left to accrue for future payouts.
“As a member-owned, not-for-profit electric cooperative, Polk-Burnett operates at cost,” said Stroshane. “Any revenue left after annual expenses is allocated and returned to members, according to our cooperative business principles.”
For more information call 800-421-0283, ext. 335.
Why is my neighbor's Capital Credit a larger (or smaller) amount?
Capital Credits are based on your total payments to the cooperative for kilowatt-hours of energy purchased, including the fixed charges. If you receive a smaller credit than your neighbor, it's because you used and paid for less electricity during the period in which the capital credit allocation was earned.
Why aren't I getting a Capital Credit distribution?
The Capital Credit distribution cycle is determined by the board of directors. Even if you don't receive a return this year, you will earn a Capital Credit allocation for all years that you are a Polk-Burnett member. Once you're eligible for a distribution on those allocations, you'll receive them even if you're no longer receiving electric service from Polk-Burnett, so it is important to make sure Polk-Burnett always has your current mailing address.
What if I'm no longer an active co-op member?
A check will be mailed to you if we have your current mailing address. The minimum distribution to inactive members is $10. Distributions that do not meet the minimum will be held on inactive electric accounts and distributed by check when the retired amount meets the $10 minimum.
What happens to unclaimed Capital Credits?
Polk-Burnett was required to give unclaimed Capital Credits to the State of Wisconsin prior to 1987. Now we can use these unclaimed funds for education and we are proud to offer continuing education scholarships to the children of our members. Polk-Burnett's scholarship program is based on community service and recognizes graduating seniors who make a difference in the lives of others. Read more about Polk-Burnett's Community Service Scholarship Program.