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As a not-for-profit electric cooperative, Trinity Valley Electric Cooperative does not earn profits. Instead, the cooperative allocates its annual operating margins—earnings in excess of the cost of doing business—to members in proportion to the amount of electricity purchased each year.
That value makes up each member’s capital credits and shows the member’s equity in the company that can build over time.
As determined by the board of directors, when the financial condition of the co-op allows, members are refunded a portion of their capital credits.
After reviewing the co-op’s financial condition this year, the TVEC board of directors approved a retirement of capital credits in the amount of $4.88 million. This distribution to more than 71,000 current and former members of TVEC represents all of the outstanding patronage capital from 1990, and 2 percent of all other allocated but unretired capital credits.
Capital credits will be disbursed throughout December. Current members will be issued a bill credit on December bills. Former members will receive a check if their refund is greater than $5.
Members who have joined in 2018 have not been allocated any capital credits for prior years and therefore will not see a bill credit this year.
The retirement of capital credits is just one of many benefits of being a member-owner of Trinity Valley Electric Cooperative.