As a not-for-profit cooperative, any margins Kankakee Valley REMC 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 and is one of the tangible benefits of our commitment to prudent fiscal management and being a KV REMC member-consumer.
At the end of each year, your REMC board calculates the co-op’s operating margin — the amount that income exceeds expenses. This margin may be used to improve or expand the co-op’s electric system or to meet other capital needs. Using the margin to pay for these necessary expenses means the REMC doesn’t need to borrow money to ensure that it can continue to provide safe, reliable and affordable service.
This year, your board decided to retire over $1.7 million in capital credits to those who were member-consumers between 1972 and 1980. The amount of credit will be based on how much electricity was used.
If you were a member-consumer of Kankakee Valley REMC during the previously mentioned dates, you can expect to see your portion of the capital credits on your bill generated in November.