Adams Electric Returning $363,011 in Capital Credits

November 28th, 2012

 

     Members of cooperatives pay for service at cost and share in the annual margins by earning capital credits. In other types of businesses, such as investor-owned utilities, stockholders receive these funds in the form of dividends.
      Capital credits from Adams Electric Cooperative are earned in proportion to the amount of electricity used. Distribution of capital credits is determined by the financial condition of the Cooperative with the goal of returning funds within a 25-30 year retirement cycle.
      The Adams Electric Cooperative Board of Directors authorized the distribution of $363,011 in capital credits, the remaining 69% from 1983. All capital credits from 1939 through 1982 and 31% of 1983 have been repaid. The entire amount of capital credits from 1939 through 1983, including the current distribution, total over $4,161,000.
      Capital credit checks will be mailed in December. If you were a member of Adams Electric Cooperative in 1983 and your capital credit total that year was $25 or more, you will receive a mailed refund check. If you are a current member and your amount was less than $25, the amount will be credited to your January electric bill (December usage).
      Adams Electric Cooperative offers the option of returning capital credits to the estates of deceased members. In this case, capital credits from 1984 through 2011 can be advanced on a seven percent (7%), 25-year discounted basis. This policy allows estates to be closed and is intended to prevent the confusion associated with future capital credit payments to the estate. If a member is deceased, and capital credits have not been retired, checks for 1983 will be mailed to the estate. For information on the settlement of capital credits for estates, call the office at 1-800-232-4797.
       If you know a member of Adams Electric Cooperative from 1983 who has since moved off Cooperative lines, remind them to notify the Cooperative of their new location.

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Adams Electric Cooperative
Mailing address: P.O. Box 247, Camp Point, IL 62320
Headquarters Location: 700 E. Wood St., Camp Point, IL
Phone: 217-593-7701 – Fax: 217-593-7120