Flathead Electric retires capital credits

Flathead Electric Cooperative’s Board of Trustees recently retired just over $3.5 million in capital credits, which is a percentage of the capital credits allocated to members in 2009. 

Members who purchased electricity in 2009 will receive capital credit payments in different ways.  

Active members who were also members in 2009 and with a total capital credit retirement amount under $500 will receive their payment via a credit on bills dated between Nov. 20 and Dec. 15. 

Active members who were also members in 2009 and with a total capital credit retirement amount of $500 and over, will receive their payment via check mailed Dec. 2. 

Inactive members who were also members in 2009 and with a total capital credit retirement amount of over $5 will receive their payment via check mailed Dec. 2 

Gary Boe, president of the co-op’s board of trustees, said when revenues exceed expenses, margins are returned to members as capital credits. 

“Your not-for-profit, member-owned co-op is focused on serving low-cost, reliable electricity to members while providing value to the community,” Boe said in a release. “The Board is very pleased to retire just over $3.5 million in 2009 capital credits to members.” 

 The co-ops retain capital credits for a period of time to fund long-term improvements to the electric system and to purchase supplies and equipment like transformers and bucket trucks. Essentially, the co-op borrows from itself and avoids paying interest on bank loans, which helps to keep electric rates lower.  

To learn more, or to search for unclaimed capital credits, visit www.flatheadelectric.com