In March, the Big Country Electric Cooperative Board of Directors approved a capital credits retirement, voting to retire 20% of the 2023 allocated margins, totaling $1,781,672. Eighty percent of the total will be applied to outstanding capital credits retirements for 1993, 1994 and a portion of 1995, while 20% will be applied to 2023.
The amount of capital credits a member receives is based on their electricity usage. BCEC uses the first-in, first-out and last-in, first-out calculation to ensure fair distribution. This ensures that both long-term and new members benefit. Members received capital credits allocation notices in late April, which detailed their individual share, while retirement checks for eligible accounts were mailed in May.
Capital credits exemplify Cooperative Principle No. 3: Members’ Economic Participation. BCEC is dedicated to ensuring its members, not shareholders, benefit from the cooperative’s success.
