Largest Capital Credit distribution in co-op history
by General Manager Steve Stroshane
I'm happy to announce that Polk-Burnett Electric Cooperative will return $2,282,389 in Capital Credits this year, including $2,051,625 to co-op members who purchased electricity in 2001, 2002 and/or 2019, and $230,764 from our wholesale power provider, Dairyland Power Cooperative, to members who purchased power in 1997 through 1999.
If you were a Polk-Burnett member those years, you will get money back. Instead of returning money to distant shareholders, Polk-Burnett returns Capital Credits to the local people we serve.
This Capital Credit retirement was approved by the board for November and is given to members in addition to the $1 million Special Capital Credit retirement last April. Capital Credits are a direct benefit of your electric co-op membership.
As a member-owned, not-for-profit electric cooperative, Polk-Burnett operates at cost. Any revenue left after annual expenses is allocated and returned to members, according to our cooperative business principles.
Capital Credits will be distributed to 17,014 active members and 8,166 former members. Active members will receive a credit on November electric bills. Former members will be mailed a check of $10 or more; lesser amounts will be left to accrue for future payouts. The amount of each distribution is based on how much electricity was purchased by the individual member during those years.
Read more about Capital Credits or call 800-421-0283, ext. 335, if we can assist with questions about your electric account.
Co-op members may donate Capital Credits to the co-op scholarship fund; please contact Polk-Burnett’s billing office, 800-421-0283, ext. 335, or enroll online.