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Operation at cost is part of the Cooperative Difference
When you signed up for electric service with FEC, you became a Member of a non-profit electric cooperative. As a non-profit cooperative, FEC does not technically earn profits. Instead, any revenues left over after covering our operating expenses are allocated back to our Members. These allocations are called capital credits.
Cooperative Members share in the ownership, construction, maintenance, and prosperity of their electric cooperative. When financial conditions permit, every Member receives a share of the benefits. Here is how cooperative membership pays you back:
Unclaimed Capital Credits
Do you or someone you know have unclaimed capital credits? Contact TC Muniz at 979-968-4209.
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Capital Credits Process
Capital Credits Process
Timeline
When a person establishes service with us, they become a member and are eligible for capital credits.
Capital credits represent a member's share of the cooperative's margins during the time they have membership.
Capital credits are earned by every member based on the amount of their electric use.
At the end of the fiscal year, any funds (margins) remaining after expenses have been paid are allocated to the member's account.
The allocated funds are used as operating capital for system improvements and maintenance.
Each year, the board of directors evaluates the financial condition of the cooperative to determine if we can retire capital credits.
When the board decides to retire capital credits, we calculate the amount owned to each member.
Current and former members who were receiving electricity during the time period that is being retired will receive a check in the mail.