Adams Electric Cooperative's Board of Directors has agreed to distribute capital credits worth $363,011 this year.
Members of cooperatives pay for service at cost and share in the annual margins by earning capital credits that are similar to the dividends earned by stockholders in investor-owned utilities.
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 capital credits being paid this year represent 69 percent of the capital credits earned from 1983. The entire amount of capital credits from 1939 through 1983, including the current distribution, total $4.16 million.
Capital credit checks will be mailed in December to cooperative members who have been members since 1983 or before. Those who are owed a capital credit of $25 or more will receive a refund check in the mail. Those who are due less than $25 will receive a credit for the amount on their January electric bills.
If a member is deceased, and capital credits have not been retired, checks for 1983 will be mailed to the estate. Adams Electric Cooperative offers the option of returning capital credits to the estates of deceased members.