As a nonprofit electric cooperative, BENCO Electric allocates their operating margins, or profits, to members receiving service during the year. These margins (revenue in excess of expenses) are allocated using a proportional ratio (using the dollar amount of electric service that each member purchases in a year compared to the total electric service purchased by all members) and are called capital credits. They are used by BENCO Electric to provide equity for the cooperative and fund capital expenditures. They are paid back to our members as the financial condition of the cooperative permits and as bylaw provisions are met. These payments are usually made in April in the form of checks, first available at BENCO's annual meeting and mailed out shortly thereafter if not picked up at the annual meeting.
If you no longer purchase energy from BENCO Electric, please keep us informed of your address in future years. This will enable us to forward payment when capital credits are refunded for the year or years of your membership.