Flathead Electric Co-op members have capital credits to look forward to in the next month. Most of us will see it as a credit on your next electric bill, between November 20th and December 15th.
The Board of Trustees has retired just over $3.5-million in capital credits–a percentage of the capital credits are allocated to members who purchased electricity in 2009. Active members with a credit of less than $500–most of us, will see it as a credit on our next bill. Inactive members will get a check.
The Co-op’s Board Chair Gary Boe tells us, “Your not-for-profit, member-owned co-op is focused on serving low-cost, reliable electricity to members while providing value to the community.”
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.
