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Capital Credits
*Don't Throw Money Away! Look for your capital credits check in your annual report to be mailed in late May 2008. In addition to annual meeting details and other information, your 2007 Annual Report also contains capital credits information regarding the $2 million capital credits retirement approved by your Board of Directors. Capital credit refunds of
$15 or more will be delivered as an insert in your 2007 Annual Report. Capital credit refunds of less that $15 received a bill credit that has already been applied to your bill. (Please note: If you are new to the cooperative and still accumulating enough electricity usage to qualify for a capital credits refund, you will receive general information about how capital credits work.)
Capital credits are one of the most unique and rewarding benefits you enjoy as a member of an electric cooperative. Cooperatives return funds to members based on their electric service purchases.
Since Blue Ridge Electric was founded, nearly $24 million in capital credits has been returned to the membership. The decision to implement a capital credits retirement is considered each year based on careful review by your Board of Directors of the fiscal health of your cooperative.
Capital credits are important because they serve as the cooperative’s source of equity. They are the margins allocated to cooperative members based on their electricity purchases. These margins are retained for a period of years and used as capital to help fund investments in the electric system to ensure the cooperative is providing highly reliable and affordable electricity.
Capital credits are both your investment in the cooperative and your benefit. They represent your ownership in Blue Ridge Electric.
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Important Information: Upon the death of a member, the capital credits account will be available for the estate retirement process. If the account is set up as a joint membership (two people), half of the capital credits account will be available for the estate retirement process if one of these members should die.
In the event of death, the estate administrator should contact Blue Ridge Electric to settle the capital credits account.
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