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Trustees Vote to Return Over $163,000 in Capital Credits


One benefit of being a member


and owner of your cooperative is receiving capital credit refunds. These capital credits are your portion of the margins - or profits - made by your cooperative. Capital credits are unique to the


cooperative form of business. Unlike profits paid only to share-holders of for-profits businesses, capital credits are paid to each co-op member who purchases electricity in a specific year. Earlier this year, your board of


trustees voted to return $163,850 in capital credit refunds. This is 100 per- cent of the G&T (WFEC) margins for years 1956 to 1964. Refund amounts are based on the amount each member paid for electricity during those years. “While the approval to retire


capital credits must still be made by the board each year to assure the financial condition of the coopera- tive will not be impaired, it is hoped the retirement of capital credits can be reduced to a 30-year rotation cycle over a reasonable amount of time,” NFEC General Manager Scott Cope- land says. Capital credit checks were distrib-


uted to members who attended our Annual Meeting Aug. 13. Anyone who earned a capital credit refund, but did not attend the meeting, should receive a check in the mail during the first week of September. Former NFEC members will be


sent a check for their refund. That is why it is so important for us to have


your mailing address if you should move off of NFEC lines. Anyone who is an heir to a deceased member’s estate needs to complete and submit a Certification of Entitlement form, as well as pres- ent a copy of the death certificate, and will or letters of testimony. The


form can be found on our website - www.nfecoop.com - on the Patron- age Capital Credits page under the About Us tab. If you have questions about your


capital credits, please call our office at and speak with Jose Hernandez or Lisa Dailey.


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