If you were a member-consumer of Kankakee Valley REMC during 2017, you can expect to see a credit on your bill generated in November.
That credit is something we do from time to time, and it’s just one more benefit to being part of a cooperative organization.
Because we are a non-profit cooperative, any margins the company earns over and above our expenses, maintenance or capital improvements of our distribution system, are returned to our member-consumers. This return is referred to as capital credits.
When your cooperative finds itself with more capital credits then we need, the board of directors can “retire” the unneeded capital credits by refunding them to you.
This year, your board decided to retire $350,000 in capital credits to those who were member-consumers last year. That money will be distributed to everyone who received power from KV REMC in 2017. The amount of credit will be based on how much electricity you used.
Capital credits allow member-consumers to benefit directly from our commitment to prudent fiscal management.
If you have questions regarding your credit, or how we determine how much you receive, please call our office.
- Kankakee Valley REMC tracks how much electricity you use and pay for throughout the year.
- At the end of the year, KV REMC assesses the finances to see if there are excess revenues.
- KV REMC allocates the excess revenues as “capital credits” to member-consumers, based on how much electricity each used.
- If financial conditions allow, the board of directors will pay out the capital credits in the form of a bill credit.
Capital credits aren’t the only perk of cooperative membership!
Learn about other benefits at kvremc.com.