For Immediate Release | News Release | February 14, 2022
Cass County Electric board of directors approves $3 million in capital credit retirements!
FARGO, N.D. — Cass County Electric Cooperative (CCEC) is excited to announce that we will be giving back a total of $3 million in capital credits to our members in response to our upcoming capital credit retirement.
CCEC is a not-for-profit organization, meaning we operate at cost. Any excess revenues, or margins, are allocated to our members in the form of capital credits. Since its inception, CCEC has returned more than $30 million in capital credits.
In March, active members who purchased power in 1999, 2000, and a portion of 2001 will see a capital credit retirement (payout) applied to their bill, around $2.6 million. The remaining dollars were paid to members who received estate payments and early retirements. 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 CCEC President/CEO Marshal Albright.
How does the capital credit process work?
- CCEC tracks how much electricity members buy and how much money they pay for it throughout the year.
- At the end of each year, we calculate our annual margin (excess revenue). But because CCEC 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.
- When CCEC’s financial condition permits, the board of directors decides to retire, or pay, the capital credits for previous years.
CCEC reminds members to provide an updated forwarding address to the cooperative to ensure that we have valid addresses to send the capital credits. Please visit www.CassCountyElectric.com/capital-credits 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. For more information, visit our website at CassCountyElectric.com.
For more information, contact:
Jocelyn Hovland
Manager of Communications
Phone: (701) 356-4526
3312 42nd St S, Suite 200, Fargo, ND 58104