Eligible A&N Electric Cooperative members should notice their capital credit retirement on this month’s billing statement.
The cooperative’s board of directors voted recently to retire capital credits to its members early to assist when it is needed most during the ongoing COVID-19 pandemic.
As a not-for-profit utility company, A&N Electric Cooperative works hard to provide affordable and reliable service. The cooperative has no shareholders and routinely returns excess revenues to our members, an aspect which sets cooperatives apart from investor-owned utilities.
The cooperative typically returns capital credits to its members in August, but the Board of Directors has again elected to expedite credits, to help members dealing with the current state of emergency.
A total of $1.75 million in capital credits will be returned to eligible cooperative members. Capital credits will be shown as a credit on an active member’s June bill statement. Checks are mailed to inactive accounts. The credit amount will vary from member to member based on how much electricity they used in the particular years retired.
The commitment to our members has led to the allocation of over $28.5 million in capital credits since the cooperative was established.