As a not-for-profit electric cooperative, we believe in giving credit where credit is due–to the members who shape our co-op. One way we do this is through capital credits. Because Corridor Energy Cooperative operates at cost, we give money back to our members rather than outside investors or shareholders.
HOW CAPITAL CREDITS WORK:
- Corridor Energy Cooperative keeps track of how much electricity you purchase for your service throughout the year.
- Then, we pay our operating costs (power generation, maintenance, depreciation, taxes, etc.) and determine whether there are excess revenues, called margins.
- We allocate the margins to members as capital credits based upon their use of electricity during the year.
- When our financial condition permits, your board of directors decides what portion of the allocated capital credits to return.
- We notify you of how and when you’ll receive your capital credit retirements (current members receive a credit on their September bill).
This year, your board of directors approved a capital credit payment of $500,000 for 2024. If you are a active member who received service from us during that time, you will have a credit on your September bill statement based on your usage during that calendar year. Inactive account checks will be mailed at the end of September or early October.