64K Delaware Electric Cooperative members receiving refunds this month
The Delaware Electric Cooperative is sending out an early Christmas present.
The Co-Op’s president and CEO Greg Starheim says some member-owners can expect to see a bill credit or check from the utility this month.
“We just recently announced that we are doing a $4 million capital credit retirement," Starheim said. "And what that means is that, funds on the books of Delaware Electric Cooperative - you know our members are owners - and every year when we finish the year with positive margins, we allocate that on our books as member equity.”
Starheim says the Co-Op is in the process of distributing checks or bill credits to more than 62,000 members.
To receive a bill credit, you must have been a Co-Op member in 2010.
Those who had an account in 2010, but no longer get electricity from the Delaware Electric Cooperative will receive a check for their retired capital credits.
Starheim says over the past 10 years, the Cooperative has returned $60 million to its members.
He says people can find out if they are getting a capital credit here.