Wheatland Electric Cooperative Inc., has successfully returned $500,000 in funds to members in the form of bill credits this month.

Known as Capital Credits, these dividends are reflected on the August 2020 bill of existing members. Members can view their Capital Credit refund online through SmartHub or on their paper bill.

The credit amount that members receive is based on the amount of electricity used (kilowatt-hours) in 1988 and 2019, and the duration of their membership, too.

Every year, Wheatland Electric’s Board of Trustees evaluate the financial condition of the co-op to determine if we can retire capital credits.

In May 2020, trustees approved an early payout of $500,000 in credits for August. Barring any unforeseen financial circumstance or crises, a second payout is expected this December for current members during Wheatland’s Capital Credit Harvest Day.

In a normal year, the cooperative distributes Capital Credits only in December. Wheatland leadership is hopeful the early payout will ease some of the financial burdens associated with the COVID-19 pandemic. 

The percentages of capital credits retired during 1988 and 2019 are as follows, per the Wheatland Board of Trustees:

These percentages reflect members’ contributions of capital to the cooperative and ownership of the cooperative during these two calendar years. That is, the more electricity you buy and the longer you use service, the more monetary equity (allocations) you accumulate.

Questions about your Capital Credit refund? Contact your local Wheatland office today!