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 2008, so each member's share of those margins
were allocated back, in the form of capital credits. That’s one of the ways WIEC is different than the investor owned
utilities.
Every summer, we inform our members their share of
the previous year's allocation
by sending them a notice through the mail. This is for informational
purposes only. Please do not pay this
allocation amount or subtract this amount from your bill.
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 1972 and 1973.
The checks were mailed in November. 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
