Aiken Electric Cooperative returns cash to its members.
What are Capital Credits?
Capital Credits are the only form of equity a consumer-owned utility has. Each year, all revenue over and above expenses is assigned by the cooperative to each member’s Capital Credits account. The amount of your Capital Credits is determined by your yearly payments for electricity.
The revenue that eventually becomes Capital Credits is accumulated and used for system maintenance. This helps to keep rates competitive by reducing the amount of funds that have to be borrowed by your cooperative.
What does this mean to me?
The Capital Credits that are assigned to each member’s account are returned periodically to the members. This means you are a member-owner of a not-for-profit business. Ownership has its privileges.
When are Capital Credits distributed?
Whenever Aiken Electric’s finances permit, we return Capital Credits to our members. The decision is made by our Board of Trustees after a thorough examination of the co-op’s financial position. The co-op has returned Capital Credits to our members annually since 1955.
Every year, you will receive a Capital Credits statement. The amount of Capital Credits on this statement is determined by the total revenue over expenses for the cooperative and your total billings for the year.
These Capital Credit refunds illustrate and emphasize one of the major differences between a member owned cooperative and an investor-owned power company or municipality.
What if I move?
If you move, be sure to leave your forwarding address with us so we can send your Capital Credits check to you. You do not normally have to report your Capital Credits payment on your income tax. However, if you have any questions concerning tax liability, consult your tax preparer.
Are there other advantages of being a member of Aiken Electric?
As a member of Aiken Electric, you are one of its members-owners. You elect the co-op’s Board of Trustees, and this gives you an equal voice in the way your co-op is managed. Aiken Electric Cooperative returns cash to its members.
Capital Credits are a privilege of membership.
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