In March, the Big Country Electric Cooperative Board of Directors approved a capital credits retirement. A total of $699,830 was retired according to the first-in, first-out and last-in, first-out calculation. The sum being retired is 15% of the 2021 allocated margins of $4,665,531.
The board has selected to use this calculation method in recent years so that longtime members and newer members alike realize the benefits of co-op membership. Eighty percent of the retirement applies to the oldest “first-in” years, which will retire capital credits from 1991 and a portion of 1992; the remaining 20% will apply toward the 2021 “last-in” year.
Eligible active accounts with returns of $30 or less had the return applied to their May bill. Accounts receiving returns greater than $30 or that are inactive received checks in the mail.