Delaware Electric Cooperative’s (DEC), Board of Directors, has voted to return $6.3 million in capital credits to the cooperative’s member-owners in December.
Capital credits are also known as the co-op’s profits or margins. Because DEC is a not-for-profit utility, margins are returned to the people the cooperative serves, a DEC release stated.
To receive a billing credit or check from the cooperative, you must have been a Delaware Electric Cooperative member in 1999, 2000 or 2001.
If a member has eligible capital credits of $100 or higher, they will receive a check. If their allocated capital credits amount is less than $100, a member will receive a credit on their bill. Members who had an active account in 1999, 2000 or 2001, but are no longer served by DEC, will also receive a check for their portion of the retired capital credits.
According to Bill Andrew, CEO, “This process is what sets us apart from other utilities. We’re not in business to make a profit for shareholders; we work to offer the greatest value to our co-op members. If there is leftover money, we give it back to our members. We return the money around the holidays because that’s when many people need it the most.”
Over the past five years the cooperative has returned more than $24 million to members. Anyone with questions about their capital credit refund can call the cooperative at 855-332-9090.