As a member-owned, not-for-profit cooperative, our members are eligible to earn capital credits.
Each year, any revenue remaining after expenses, debt service, system renewal and replacement and other capital improvement funding, as well as accounting for depreciation and reserves, is allocated to members as capital credits.
Current members are notified each year if a capital credit allocation has been made. Years in which revenue has been fully committed to utility operations, no capital credits are allocated to members.
A member’s capital credit is calculated based on their service payments for the year in proportion to all member service payments for the year.
Each year the Board of Directors determines whether to retire capital credits based on the financial condition and needs of the utility. Capital credits are retired in chronological order, according to Company Bylaws. Current members receive a credit on their utility bill and former members are mailed a check.