Dade City – One of the many benefits of being a member of a not-for-profit electric cooperative is members get to share in any excess margins at the end of the year. These margins are called capital credits, and WREC’S Board of Trustees authorized a 21-million-dollar refund this year. Members who have had service for more than one year are receiving a refund on their December bill.
Billy Brown, the cooperative’s general manager stated “everyone at WREC understands the challenges our members face. Often their budgets are squeezed at every point, especially around the holidays. We have received many calls from our members thanking us for their refund.”
Capital Credits are the accumulation of all prior year’s revenue after the Co-op’s expenses have been paid. These credits are applied on a pro-rata basis to each WREC member’s account and represent a portion of the total monies paid by the Co-op to each member.
Since 1990 WREC members have received more than $394 million dollars in capital credit refunds.