Delaware Electric Cooperative's 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 Delaware Electric Co-op is a nonprofit utility, margins are returned to the people the cooperative serves.
To receive a billing credit or check from the cooperative, recipients must have been Delaware Electric Cooperative members in 1999, 2000 or 2001. Members who have eligible capital credits of $100 or higher will receive a check. If their allocated capital credits amount is less than $100, members will receive a credit on their bills. Members who had an active account in 1999, 2000 or 2001 but are no longer served by the co-op will also receive a check for their portion of the retired capital credits.
Bill Andrew, president and CEO, says, "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. For more information, call 855-332-9090.