Being a member-owner of a cooperative is a relatively simple idea. A cooperative does not earn profits in the sense that other businesses do. Instead, any margins, or revenues remaining after all expenses have been paid, are returned to the members in proportion to their usage of the co-op's services.
Members of Verendrye Electric Cooperative hold equity in the cooperative with capital credits. The amount of capital credits a member holds depends on how much electricity the member purchases each year. The Verendrye board of directors determines the amount of capital credits to be returned each year, based on the financial condition of the cooperative. When capital credits are retired, checks are issued to members and handed out at the annual meeting.
If your capital credit retirement is less than $10, you will not receive a check. The money will be held until the next year and paid out if it reaches the $10 amount.
If you have any questions about capital credit, contact us at 1-800-472-2141.