At its regular meeting March 25, the Big Country Electric Cooperative Board of Directors approved a capital credits general retirement. Checks will be mailed to eligible members April 28. A total of $600,000 will be retired according to first-in, first-out and last-in, first-out calculations. The sum being retired is 15% of the 2020 allocated margins of $3,999,045.
This retirement is composed of the remainder of capital credits allocated in 1990 along with a small portion of those retired in 1991—all of which accounts for 80% of this retirement. The remaining 20% will come from capital credits allocated in 2020.
The retirement of capital credits is one of the most important things we do as a co-op. Co-ops operate on a not-for-profit basis, and capital credits facilitate that by representing the allocation of operating margins as equity. When appropriate, the board approves retirement of those allocations to eligible members of the co-op in the form of a check. Capital credits are a crucial part of what makes co-ops special and are a great benefit for our members and the cooperative you own.