Capital Credits

To deliver power that’s reliable, affordable and safe, Aiken Electric uses revenues over and above the cost of doing business to finance capital needs such as power line construction, transformers, trucks and other equipment. These margins are retained by the cooperative for a number of years to reduce the need to borrow money or raise the cost of electric service. On a rotating basis, Aiken Electric returns these margins known as “Capital Credits to its members.

As an electric cooperative, the members of the cooperative are the primary source of ownership (equity) funds for the cooperative. Members must invest in their cooperative. The equity built within the cooperative is used for leverage to finance large projects that are necessary to upgrade the system to improve system reliability, and provide electric service to our member.

When AEC’s finances, permit, we return Capital Credits to our members. After an in-depth evaluation of the co-op’s financial status, our Board of Trustees determines the amount returned. Every year, you will receive a Capital Credits statement. The amount of Capital Credits on this statement is determined by the cooperative’s overall revenue above costs, and your total billings for the stated year. This Capital Credits reimbursements highlight one of the key contrasts between a member-owned cooperative and an investor-owned electric company or municipality.

The only people who receive Capital Credit checks or bill credits are the people served by Aiken Electric. Capital Credits are issued as a check or applied as a credit directly to the member’s account, depending on the amount. To former co-op members, Aiken Electric sends check to the last known address. In the event of death, Capital Credits can be issued to the legal representative of the family member’s estate.

As an Aiken Electric member-owner, you are entitled to a share of the non-profit electric cooperative’s profit margins. These margins, or profits after all expenditures are deducted, are returned to you as Capital Credits. Capital Credits are only given to members. Aiken Electric and other cooperatives retain money in their communities.

Do we owe you money? Check this list

Aiken Electric Cooperative has unclaimed capital credits. As required by state statute, AEC is required to publish a list annually that identifies the name and address of former members whose last known address is in South Carolina with unclaimed capital credits of $50 or more. 

In order to claim the capital credits, the individual will have to provide identification and proof they are the member who owned the account with the unclaimed capital credits. In order to claim the capital credits for a deceased person, the cooperative requires a death certificate for estate refunds and will need either a Certificate of Appointment or an Affidavit for Collection of Personal Property from the Judge of Probate along with a completed estate application available at our office.