FOR IMMEDIATE RELEASE | NEWS RELEASE | FEBRUARY 20, 2023
Cass County Electric board of directors approves $4.5 million in capital credit retirement!
FARGO, N.D. - Cass County Electric Cooperative is excited to announce that we will be returning $4.5 million in capital credits to our members in response to our upcoming capital credit retirement.
Cass County Electric Cooperative is a not-for-profit organization, meaning we operate at cost. Any excess revenues, or margins, are allocated to our member-owners in the form of capital credits. Since its inception, Cass County Electric Cooperative has returned nearly $31.5 million in capital credits to member-owners.
In March, active members who purchased power in 2001 and 2002 will see a capital credit retirement (payout) applied to their bill. Inactive members with current addresses on file will receive a check by mail.
"As a not-for-profit cooperative, capital credits are paid out to the cooperative's member-owners to recognize one of many benefits of being a member," commented Cass County Electric President/CEO Marshal Albright.
How does the capital credit process work?
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Cass County Electric Cooperative keeps track of how much electricity members buy and how much money they pay for it throughout the year.
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At the end of each year, we calculate our annual margin (excess revenue). But because Cass County Electric is a cooperative, we divide this margin proportionally by the amount of electricity each Member uses throughout the year and report to our members what their share is.
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When Cass County Electric Cooperative's financial condition permits, the board of directors decides to retire, or pay, the capital credits for previous years.
Cass County Electric Cooperative reminds members to provide an updated forwarding address to the cooperative to ensure that we have valid addresses to send the capital credits. Please click here to see if you know anyone who has capital credits waiting for them.
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Cass County Electric Cooperative is a community-focused electric cooperative that efficiently delivers affordable, reliable, and sustainable energy to more than 55,000 homes, apartments, businesses, farms, and schools. Cass County Electric Cooperative is led by and belongs to the communities we serve - in southeastern North Dakota. We invest in the community through energy rebates, Operation Round-Up, Youth Tour, and much more. Visit our website for more information.