Official Notice of Capital Credits Allocations
Hamilton County Electric Cooperative Association recently allocated capital credits to its members for 2016.
At the end of each fiscal year, cooperatives determine the margins made during the year by deducting the expense of operating the cooperative from the revenue received from the sale of electricity. These margins are then allocated to each member’s account based on his or her electric use. Once these margins are allocated, they are referred to as “capital credits.”
Capital credits remain invested in the cooperative until the cooperative’s board of directors determines that a refund would not weaken the financial condition of the cooperative. Hamilton County Electric Cooperative to date has returned $4,749,372.68 of its capital credits obligations for the years 1947–1988.
It is very important that departing members keep the cooperative informed of their current mailing addresses so they can receive capital credits when they are returned.
Capital credits for 2016 are calculated by multiplying the sum of each member’s electric service bills for 2016 by 2.08 percent. For example: If the total of your electric bills from the cooperative was $1,000, simply multiply that amount by .0208, and the result is $20.80, your capital credits allocation for 2016. When calculating your total bill, do not include any sales tax, miscellaneous charges, membership fees or deposits.
If you have any questions concerning your capital credits account, please feel free to contact Hamilton County Electric Cooperative.
(This article is intended to serve as the official notice of allocations of capital credits for 2016.)