As a member of Callaway Electric Cooperative, you are part owner. Therefore, you have a share in the margins or capital credits remaining at the end of the year.
After all expenses of furnishing electricity to the membership have been satisfied, any money left over is set aside as capital credits. It is allocated to each member based on the amount of electricity that was used for the year.
The capital credits allocated to you can also be considered the cooperative's equity, or working capital. It allows the cooperative to secure loans for new construction and also maintain existing facilities and services.
Callaway Electric has retired over $20 million in capital credits to members since 1990. Each year the board of directors reviews the financial status of the cooperative and determines if a portion of the capital credits can be returned to the membership. If a return is authorized it will appear as a credit on the December statement. For those who are no longer active members of the cooperative, a check will be issued instead of the bill credit. If you move from this area, be sure to keep us updated of your current address.
Any time the cooperative has capital credits to allocate, you will receive a notice of your portion of the allocation after the close of the fiscal year. These notices are included as part of your April 1st billing statement. If you disconnect service mid year, a letter of notification will be sent to the address on file.