Bowie-Cass Electric Cooperative continued its long-standing practice of paying capital credits to its member-owners. In September or October (depending on which billing cycle a member receives their bill) members’ electric bills were lowered with their portion of $1.65 million in capital credits.
“Capital credits are another benefit of being a member of an electric cooperative,” said Mark Boyd, General Manager. “Since the Cooperative is not-for-profit, we give the margins, any revenue left after expenses, back to each member based on the amount of electricity they purchased. This is called a capital credit.”
After each fiscal year, and once the determination has been made that the financial condition of the Cooperative is stable and adequate to meet operating costs and debt covenants, the Board of Directors may elect to return excess capital by retiring capital credits to the Co-op members. An allocation is the amount set aside into a separate account to be used as operating capital over a given period of time. The Board decides when and how much of each year’s capital credits will be returned to members with these allocations. This year the Bowie-Cass Cooperative Board of Directors approved the payment of $1,650,000 to members who had electric service with the Cooperative in 1990 and 2020.
It's like having the Cooperative Web Site and Member Services Department in the palm of your hand!
Available for both Android and IPhone Smart Phones, the "Bowie-Cass" mobile app is designed to give you fast and secure account access. With it, you can pay your bill, access account information, check your usage and billing history and quickly report an outage.