Wheatland Retires $1.25 Million in Capital Credits
Pick-up your capital credits check at Harvest Days on Dec. 20 at your local Wheatland Electric office.
Capital credits are a big part of Wheatland Electric’s business model and are just one of the things that makes a cooperative different from many other utilities. Any revenue above the cost of doing business is considered "margins." These margins represent an interest-free loan of operating capital by the membership to the cooperative. This capital allows Wheatland to finance operating costs and expenses, with the intent that excess capital will be repaid to the members in later years through capital credits.
Wheatland’s Board of Trustees decided it was economically feasible to retire $1 million in capital credits. Sunflower Electric’s Board of Trustees also approved retiring capital credits to its membership (Wheatland Electric is a member). The Wheatland Board of Trustees also approved $250,000 of those retired capital credits to be paid to the Wheatland membership. This brings the total retirement to $1,250,000.
The amount members will receive depends on how much electricity they used in the payout years and how long they have been a Wheatland Electric member. The payout this year is for members of Wheatland Electric from 1987 and 2017. Those Wheatland Electric members will receive a percentage of capital credits retirements through either bill credits or checks, reflecting their contribution of capital to, and ownership of, the cooperative during those years. The percentages of capital credits retired for the years mentioned are as follows:
On Thursday, Dec. 20, 2018, each Wheatland district office will host a Wheatland Capital Credits Harvest Day. Each Wheatland Electric district office will have capital credits checks ready for pickup. If the amount owed is less than $20, Wheatland Electric will credit your electric bill (no bill credits will be paid that are under $10).
As mentioned above, all members who were members on the Sunflower Electric side of our service territory (excludes those who became members of Wheatland Electric through the Aquila purchase) will be receiving capital credits. It will be included on the same check or bill credit from Wheatland.
The amount from each entity will be listed by year, Wheatland (1987 & 2017) and Sunflower (2002 & 2003).
Inactive members or persons not currently purchasing their electricity from Wheatland Electric who were distribution members during the years of the capital credits retirements will be receiving a check for their capital credits (same rules as above apply).
It is very important that Wheatland Electric has the current mailing address of all inactive members to ensure the delivery of the capital credits checks. To confirm or update your mailing address, please call Wheatland Electric at 800-762-0436.
Click here for a complete list of members who will be receiving a Capital Credits check.