Carroll Electric Lo cal pages
Carroll Electric returns patronage capital to members Carroll Electric retired 100 percent of the margins from 1996. This amounts to
If you were a member of Carroll Electric in 1996, be sure to check your December 2016 billing statement to see the amount of patronage capital that was returned to you. Unlike investor-owned utilities that maximize profits to pay their shareholders, not-for-profit electric cooperatives do not exist to earn a profit. You receive capital credits because you are more than a customer; you’re an owner of Carroll Electric. Capital credits represent your ownership in Carroll Electric and are one of the most unique and rewarding benefits you enjoy as a member of the cooperative.
How capital credits work
Capital credits dictionary
When you move into a home in Carroll Electric’s service territory, you become a member of the cooperative.
Margins (mar·gins) noun
Carroll Electric is a not-for-profit organization owned by our members. The money to cover day-to-day operating costs comes directly from members paying their monthly electric bills.
Allocate (al·lo·cate) verb
Retirement (re·tire·ment) noun
At the end of the year, Carroll Electric subtracts operating expenses from the amount of money collected. The remaining balance is called the margins.
Margins are allocated to your capital credits account based on your usage.
Your capital credits account is similar to a bank account. It is the accumulation of margins that have been allocated to you.
Allocated margins are deposited into your capital credits account on an annual basis. From time to time, the board of trustees retires capital credits based on the financial stability of the cooperative. Currently, Carroll Electric retires capital credits on a 20-year rotation.
If the board chooses to retire capital credits, the cooperative will withdraw margins from your capital credits account and issue them to you in the form of a bill credit for current members and a check for past members.
The money left at the end of the year after all of the cooperative’s expenses have been paid. Process of dividing out the margins, assigning them to each member’s account. The amount of your capital credits refund. Margins are withdrawn from your capital credits account and applied to the amount of your bill. If you’re a former member, you are issued a check.
When will you receive patronage capital? You will receive patronage capital 20 years after you become a member of Carroll Electric. For example: If you joined Carroll Electric in the year 2000, you should receive patronage capital in 2020.
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