One Million Dollars! It’s time for you to get the credit – capital credits, that is – for helping build, sustain, and grow your locally owned and operated electric cooperative!
Each year, the KEA Board of Directors reviews the Cooperative’s financial picture and determines the current year’s capital credit retirement. At the Regular Meeting of November 19, 2015, the Board took action to return 2.36% of the total unretired capital credits on file – a total of one million dollars!
Active KEA members will receive a credit on their December monthly billing, and inactive members will be mailed checks.
When you signed up to receive electric service from Kodiak Electric Association, you became a member of our electric cooperative. While investor-owned utilities return a portion of any profits back to their shareholders, electric cooperatives operate on an at-cost basis. So, instead of returning leftover funds, known as margins, to investors who might not live in the same geographical location or even the same state as you do, Kodiak Electric Association allocates and retires capital credits based on how much electricity you, our members, purchased.
Each member’s credit allocation is accumulated and totaled over the period of time that the member receives service. Each member earns the same percentage on their purchases, although the actual dollar amount credited will vary from member to member because it is based on total individual purchases. Receiving capital credits is just one more way that Kodiak Electric Association is looking out for you!
Merry Christmas and Happy New Year from all of us at KEA!