Owen Electric Cooperative makes every member an owner of the business. Unlike other electric utilities, we exist to make sure your needs are always met, not to make a profit. As a member-owner, you share in the Co-op’s margins (monies left over after operating expenses are paid) in the form of capital credit refunds.
This year marks the 30th consecutive year that Owen Electric Cooperative has conducted a general refund of capital credits. Since 1990, the amount refunded to our members totals more than $29,600,000.
We work hard every day to make sure your rates stay as low as possible and to provide great service. It’s nice to know that when there are margins, they are assigned back to you, and the Board of Directors may approve a general refund whenever Owen Electric is in a sound financial position and can make distribution of funds without jeopardizing planned growth and activities affecting the reliability of service to our members. It’s just one part of the cooperative difference!
This year’s capital credits represent a portion of 1989 and 2018 net margins. Your Board of Directors has authorized $1,500,000.
As in previous years’ refunds, if your capital credit refund for this period is less than $50, then you will see a credit on your December bill for the amount of the capital credits due; otherwise, a check will be issued to you in December if your capital credit refund for this period is $50 or more.
Again, we want to thank you for another wonderful year! Owen Electric is always there with you, reinvesting in your community. That’s why in an electric co-op, the people have the power.