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the Light Post | 3 Did You


Know? Because electric co-ops operate at cost, any excess revenues are allocated and retired to members in the form of capital credits. Kiamichi Electric has retired more than $12.7 million in capital credits since 1945. Over the past thirty years, electric co-ops across the nation have returned $15 billion to members.


Board Approves Credit of


$976K For Members Unique to co-ops, capital credits give members their fair share of co-op ownership


A


s a member of Kiamichi Electric Cooperative (KEC), it's time for you to get the credit —capital credits,


\PI\ Q[σ NWZ PMTXQVO J]QTL [][\IQV IVL grow your cooperative. The KEC board approved a retirement of $976,609 to members at their monthly meeting in July.


When you signed up to receive electric service from KEC, you became a member of an electric cooperative. While investor-owned utilities return a portion WN IVa XZWÅ\[ JIKS \W [PIZMPWTLMZ[ electric co-ops operate on an at-cost basis. 1V[\MIL WN ZM\]ZVQVO TMN\W^MZ XZWÅ\[ \W investors who might not live in the same region or even the same state as you do,


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Find more information on KEC capital credits for members at www. kiamichielectric.org.


electric co-ops allocate and periodically retire capital credits based on how much electricity you purchased during a year.


This year, members in 1997 and 1998 will receive capital credits retirements. A credit will appear on your electric bill \PI\ ZMÆMK\[ aW]Z ÅVIVKQIT KWV\ZQJ]\QWV to KEC through usage of electricity during those years. While that seems like a long time ago, the ability to use these funds reduces the amount of money KEC needs to borrow from outside lenders to build, maintain, and extend your electric. It also provides a cushion for emergencies such as ice storms, that cause extreme and expensive damage to co-op poles, lines, and equipment.


since 1945


$15 billion


since 1988


$12.7 million


KEC’s retirement of capital credits ZMÆMK\[ Q\[ [W]VL ÅVIVKQIT KWVLQ\QWV The co-op has consistently approved and retired capital credits for the past 12 years, and is currently four and a half years ahead of schedule. More than $12.7 million has been returned to members since 1945.


Capital credits were applied to electric bills beginning in August.


LIVING by our PRINCIPLES: Members’ Economic Participation


Members contribute equitably to, and democratically control, the capital of their cooperative. At least part of that capital remains the common property of the co-op. Members allocate surpluses for any/all of the following purposes: developing the FR RS VHWWLQJ XS UHVHUYHV EHQHƬWWLQJ PHPEHUV LQ SURSRUWLRQ WR WKHLU WUDQVDFWLRQV with the co-op; and supporting other activities approved by members.


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