Since you are a member/owner of Western Illinois Electrical Coop. this is
something you should know. We're
happy to report that last year was a good one for WIEC.
We made margins in 2006, so we are allocating back to our members
their share of those margins, in the form of capital credits. That’s one of the ways WIEC is different than the investor owned
utilities.
We inform our members their share of the allocation
by printing it right on the bottom left side of their April electric
bill. By printing the allocation amount right on the bill, we reduce
labor expenses, postage expense, and printing costs.
This is for your information only.
You do not need to do anything, so please do not pay this
allocation amount or subtract this amount from your bill.
For members who have had their service disconnected during 2006 and
no longer receive a bill, they received a separate allocation
notice in the mail in April 2007.
Capital credits are allocated every year, but not necessarily paid
back every year. Typically,
electric cooperatives reinvest capital credits back into the business
operation, which reduces the need for WIEC to borrow money and also
reduces the amount paid by the cooperative in interest payments.
However, the WIEC
board of directors decided to retire (or refund) capital credits
to members who were on our lines between the years of 1962 and 1963.
The checks were sent on October 15th. If you were on our lines, or
know of a family member that was, it's important that you make sure WIEC
has your current address so your check will reach you.
The capital credits of a deceased member may be paid
to the estate at a discount without waiting for a general retirement. For
more information, click here
