SCOTT CITY – The Wheatland Electric Cooperative Board of Trustees has voted to retire $2.25 million in capital credits to eligible members (electric account holders), the largest payout in the cooperative’s nearly 75-year history.
This December, eligible members (Wheatland account holders, both past and present) who have accumulated at least $25 in credits will receive their payout in the form of a check during our Capital Credits Harvest Day on Tuesday, Dec. 6, 2022.
One of Wheatland Electric’s seven cooperative principles is members’ economic participation, which means members contribute equitably to and democratically control the capital of their cooperative.
Members are invited to pick up their capital credits check between 10 a.m. to 2 p.m. and can enjoy complimentary pie and other refreshments, first-come, first-served.
Because electric cooperatives like ours operate at a cost, any excess revenues (called margins) can be allocated to members in later years through capital credits. Trustees determine how and when to retire (pay out) capital credits when economically feasible.
Wheatland Electric has retired at least $1 million in capital credits every year for the last five years. This year, co-op members from 1989, 1990, and 2021 are eligible for the record-setting payout, which trustees voted on in September.
The credit amount that an individual member receives is based on the amount of electricity used (kilowatt hours) during the payout year(s), and his or her duration of membership.
Of this year’s $2.25 million payout, $250,000 comes from Sunflower Electric Power Corp., our power supplier. Wheatland Electric is a distribution cooperative and a member of Sunflower, a generation and transmission cooperative.
Members, active or inactive, who do not pick up their capital credits checks on Capital Credits Harvest Day (Dec. 6) will have them mailed to their address of record.
In addition, eligible members who have not accumulated at least $25 in capital credits this year will not receive a check. However, they will not lose their payout amount. Instead, their retirement amount will be rolled over into a future year’s payout.
To confirm or update your mailing address, call 800-762-0436.
