DeFuniak Springs (Nov. 30, 2022) – CHELCO’s Board of Trustees has approved a retirement of $3.4 million in capital credits to be returned to approximately 69,000 current and former members.
As a member-owned, not-for-profit electric cooperative, CHELCO exists to provide safe, reliable and affordable service to its members. If CHELCO collects more money than it costs to operate, these additional margins are returned to the members. These margins are called capital credits.
Each year, the Board of Trustees determines if CHELCO’s financial condition will allow the retirement of a portion of the capital credits. CHELCO retires capital credits and returns them to members on a 20-year cycle, meaning that those who were CHELCO members in 2002 and/or 2021 will receive a capital credit check based on how much business the member did with CHELCO in those years.
CHELCO will begin the distribution of capital credits in early December. Visit CHELCO.com to learn more about capital credit allocations and retirements.
CHELCO is a not-for-profit electric distribution cooperative serving more than 61,000 accounts in Walton, Okaloosa, Holmes and Santa Rosa counties.