Egyptian Electric Cooperative Association (EECA) is proud to announce that we will be returning $1,347,967 in capital credits to our consumer-members this year.
This year’s retirement will go to members who received service from EECA in 1995 and 1996. If you were a member during those years, you will receive a portion of margins allocated in that year, proportional to the amount you contributed to those years’ revenue.
Capital Credits are being returned in a first-in, first-out (FIFO) method, with EECA retiring 100% of the credits from 1995 and 70% of the credits from 1996.
- For Active Members –If the payout is less than $500, members will see a bill credit on their September bill. For payouts greater than $500, a check will be mailed.
- For Inactive Members –If the payout is $50 or more, they will receive a check in the mail. For payouts less than $50, Capital Credits will be paid once the retirement payout is $50 or above unless it is the final payment of Capital Credits on the account.
What are capital credits?
When you signed up for electric service with Egyptian Electric Cooperative Association (EECA), you became not just a consumer, but a member of our cooperative. By paying your monthly EECA bill, you accumulate equity through Capital Credit allocations. When EECA experiences a positive margin, it is allocated to members according to their contribution to the year’s revenue. This allocation represents your share of ownership in our cooperative.
As a not-for-profit cooperative, EECA returns margins back to its members, unlike investor-owned utilities that distribute profits to shareholders. Over our 87-year history, these margins have helped keep rates affordable and reduced borrowing costs for infrastructure improvements.
If you have any questions about your Capital Credits or bill credit, please contact us at (800) 606-1505 or capcredit@eeca.coop. To ensure you receive future Capital Credit mailings, please keep us informed of any changes to your contact information, including email and mailing address.