Notification and Assignment of Capital Credits for 2020
August 1, 2021
This is to certify that by virtue of its having received revenues in excess of expenses for the year ended December 31, 2020, each member of the cooperative during the year 2020 has been credited on the books of the Cooperative, at its principal office in Monroe, with having furnished the cooperative capital in an amount equal to the following percentage of each member’s patronage during that year:
|General Allocation (Co-op)||6.639%|
|Generation & Transmission Allocation (G&T)||2.080%|
The allocation percent set forth above applies to amounts billed for electric service during the year, and represents the member’s share of the allocable margin realized by the Cooperative during the year. The resulting amount has the same status as if it had been refunded to the member in cash and immediately returned by the member to the Cooperative as member-furnished capital.
Assume amounts billed to a member total $1,000 for 2020, the co-op capital credit allocation will be $66.39 ($1,000 x .06639) and the G&T capital credit allocation will be $20.80 ($1,000 x .02080).
A capital credit assignment is not cashable, and it cannot be used as a credit on the member’s electric bill. It is issued subject to all the terms and conditions as contained in the Cooperative’s bylaws, both as presently worded and as may hereafter be duly adopted or amended.