Every year the money McCone Electric Co-op earns over expenses is allocated to the members in the form of capital credits.
You are notified each year of the amount credited to your capital credits account, together with the total capital credits to date. This is not a check and cannot be cashed, nor can it be used as a credit on your electric bill. This money is used as capital in operating the electric business of your cooperative. When the board of directors feel the financial condition of the cooperative is such that retirements of capital credits can be made, refunds will be made. The co-op's goal is to maintain a 20-year cycle for refunding capital credits. If you move out of McCone Electric's service area, please keep the co-op informed of your current address so you will receive your capital credits.
Heirs to a deceased member's estate need not wait until a general refund is made to receive the member's capital credits. The co-op will refund capital credits to a deceased member's estate if the account was listed in the deceased name and all necessary documents are completed.