Cooperative Returns Over $650,000 to its Member/Owners
One of the key differences between investor owned utilities and your electric cooperative is who the owners of each type of organization are. With the investor owned utility the person who owns shares of stock in the utility is the owner. The shareholder may or may not be the same person as who the utility provides their electric service.
With Craig-Botetourt Electric Cooperative, the owners are the ones who receive their electric service from the Cooperative. One benefit to being a member of Craig-Botetourt is that you are entitled to capital credits. Capital credits are the revenues we have left after we have paid all of the bills of the Cooperative for each year.
This year, the Board of Directors of the Cooperative approved to pay out over $650,000 of capital credits to its member/owners. The amount to be returned is associated with the years of 1989 and 1990. If you were a member during any of these years you should receive a credit or check in the mail. The credit will be listed on the bill you receive during the first week of December as Capital Credit Refund.