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$725,000 coming back to NWEC member-owners this month for holidays

Monday | December 7, 2020
All News

NWEC%202020%20Capital%20Credits%20-%20web%20banner.png

Many North Western Electric Cooperative (NWEC) member-owners will see a lower electric bill around the holidays. This month, the local electric cooperative is returning $725,000 in capital credits to current and former member-owners. Eligible co-op member-owners will receive the refund as a credit on their electric bill or as a separate check in December. These capital credits represent the cooperative’s margins, or money left over after all bills have been paid.

As a not-for-profit community-focused organization, NWEC uses these margins for investments, such as building or replacing power lines, transformers, and other electric system upgrades to meet member-owners’ evolving needs. This helps keep the co-op’s service reliable.

After being used as working capital, the money is returned to member-owners. It represents each co-op member’s ownership — or equity — in his or her cooperative. Capital credits are allocated to member-owners in proportion to the dollar amount of electricity used. Then, usually on bills due in December, some of those allocations are distributed back to the member-owners in what NWEC calls a retirement.

“We return the money to member-owners around the holidays because that’s when many people need it the most – especially this year with many member-owners struggling due to COVID-19,” says NWEC President/CEO Darin Thorp.

This month, eligible member-owners’ bills should show a credit for 20% of their allocation from 2019 (allocation notices were included on bills for March use), along with any unretired capital credits from 2000. If you were a member-owners during either or both of those years, you get a return on your ownership. If you are no longer a member-owner now, NWEC will send a check to your last known address.

“Returning capital credits demonstrates that NWEC member-owners are not just customers; they are members and part-owners of their electric cooperative, which belongs to the communities it serves,” Thorp says. “They have equity ownership in NWEC’s physical assets — and receive a financial return on those assets, unlike customers of other utilities.”

For more information about capital credits, contact NWEC at 1-800-647-6932.

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04125 State Route 576
Bryan, OH 43506
419-636-5051
1-800-647-6932

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©2021 North Western Electric. Serving NW Ohio for over 80 years.

  • CO-OP INFO
    • ABOUT US
      • Our History
      • Location & Hours
      • Capital Credits
      • Cooperative Documents
      • Ohio Cooperative Living
      • Cooperative Principles
      • Our Affiliations
      • Employment Opportunities
    • BOARD OF TRUSTEES
      • Meet Your Board
      • Trustee Election Page
    • NW OHIO PROPANE
      • Your Local Propane Partner
  • SERVICE
    • MANAGE YOUR SERVICE
      • Starting or Stopping Service
      • Payment Options
      • Rates & Charges
      • Limiters and Remote Disconnect Collars
      • Call 811
    • UTILITY PROJECTS
      • Tree Trimming
      • Line Maintenance
      • Line Rebuild
      • Meter Upgrades
    • OUTAGES
      • Outage Reporting
      • Be Prepared for Storms
      • Generator Safety
    • PRODUCTS & OTHER SERVICES
      • Area Lighting
      • Outdoor Wiring
    • RENEWABLE ENERGY / DISTRIBUTED GENERATION (DG)
      • Our Solar
      • Adding DG to Your Home
  • PROGRAMS & EDUCATION
    • JUST FOR KIDS
      • Youth Tour
      • Scholarship Programs
      • Give Us An "A" with a Twist
      • Apogee Kids' Page
    • EDUCATIONAL PRESENTATIONS
      • Learn About Energy
    • SAVE ENERGY & MONEY
      • Rebates
      • Residential Energy Audits
      • Load Management
      • Kill-A-Watt Usage Monitor
      • Energy Efficiency
      • CFL Recycling
  • COMMUNITY
    • ACRE - Co-op Owners for Political Action
    • Co-op Connections Card
    • FREE Public Hotspot
    • Operation Round Up