Co-Mo To Retire $3 Million In Capital Credits This December
It’s the most wonderful time of the year, and that isn’t just a reference to the impending holidays. It’s time for Co-Mo members who receive electric service to receive their dividend for being a member of the cooperative.
This December, Co-Mo members and former members will receive their portion of $3 million in retired capital credits on their electric bills.
When a Co-Mo electric consumer signed up to receive electric service from Co-Mo, they became a member-owner of an electric utility. While investor-owned utilities return a portion of any profits back to their shareholders, electric co-ops operate on an at-cost basis. So, instead of returning leftover funds, known as margins, to people who might live in a different region or state than those paying for service, Co-Mo allocates and periodically retires capital credits based on how much electricity members purchased during a year.
“This is what makes this cooperative unique,” said Co-Mo CEO Aaron Bradshaw. “Any excess revenue the cooperative makes is placed right back into the hands of our member-owners. We’re proud that this allows our cooperative to reinvest in the communities and the local economy via the members we serve.”
Credits are distributed based on how long members have been part of the cooperative. For unclaimed monies in previous years, visit www.co-mo.coop.
Bradshaw went on to say that Co-Mo’s members are vital to the success of the cooperative system. That is why the cooperative continually seeks member input through community events, social media channels and its annual meeting.
“We are led by you, the members of the co-op, and we depend on your feedback,” said Bradshaw. “We hope you will continue to share your thoughts and opinions with us in the year ahead and in the years to come. On behalf of the Co-Mo family, we hope your holidays are indeed merry and bright!”