We’re returning more than $940,000 to members this month through our capital credits retirement program. Your share of these retirements will be returned to you in late November. Most members will receive a check in the mail. If you have requested that we apply your retirement to your account, we will do so. We will also apply it to your account if you have a past-due balance or your retirement is less than $12.
Capital credits are 1 of the many benefits of co-op membership. As a member-owned cooperative, each year we allocate to each member a share of the net margin—or income—we make from providing services to all members. This is called a capital credit allocation. We use the money to fund our operations until our board of directors authorizes a capital credit retirement. At that point, the money is returned to members.
If you were an electric service member in 2012, you will receive a portion of a $746,690 retirement. This pays out the remainder of the 2012 allocations for electric service.
The board authorized 2 retirements for internet service members, which resulted in payment to members from 2017 and 2022. A $92,100 retirement pays off 50% of the remaining 2017 allocation. A $102,092 retirement pays off 40% of the 2022 allocation.
As a reminder, please update your mailing address — especially if you move away — so we can find you to pay out your future capital credit retirements. Sometimes we are unable to find former members to pay them their credits. We keep a list of members who have unclaimed retirements on Hood River's Unclaimed page.
With these retirements, we have returned more than $14.5 million to our members. On behalf of everyone at Hood River Electric & Internet Co-op, thank you for being our members. We wish you a safe and happy holiday season.