MURPHYSBORO – This year, to combat the rise in check fraud, Egyptian Electric Cooperative’s Board voted to update Policy 108 to enhance the security of its members’ Capital Credit refunds.
Under the updated policy:
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- 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.
This year, the Board elected to retire 100% of the 1993 and 1994 allocations, allowing EECA to distribute a total of $1,583,320 in Capital Credits. If you are currently an active member and were a member in 1993 or 1994, the bill credit you receive in September will represent your portion of the margins allocated during these years.
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 86-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.
