SCOTT CITY–The Wheatland Electric Cooperative Board of Trustees voted in September 2021, to retire $1 million in capital credits to eligible cooperative members. This year, eligible active members will see their capital credit in the form of a bill credit, visible either via SmartHub or on their December paper bill.
Electric cooperatives, like ours, operate at a cost. Any revenue above the cost of doing business (called margins) are repaid to the members in later years through capital credits. The credit amount that an individual member receives is based on the amount of electricity used (kilowatt hours) during the payout year(s), and their duration of membership. The payout years for this capital credit retirement are 1989 and 2020.
Every year, our trustees evaluate the financial condition of the cooperative to determine if we can retire capital credits. One of our seven cooperative principles is members’ economic participation, and capital credits is just one way we honor the cooperative spirit!
Inactive members or persons not currently purchasing their electricity from Wheatland Electric who were distribution members during the payout years will receive a paper check for any amount over $20. It is important that Wheatland Electric has the current mailing address of all inactive members to ensure the delivery of the capital credit checks. To confirm or update your mailing address, please call Wheatland Electric at 800-762-0436.
Due to the ongoing pandemic, Wheatland Electric will not host capital credit Harvest Days events this year.