In mid-December Wake Electric will be returning over $2 million in capital credits across the seven counties we serve to our members. This retirement of capital credits is just one of the many ways we like to demonstrate the value of cooperative membership.

What Are Capital Credits?

As a member of Wake Electric, you’re more than just a customer—you’re a member. And it pays to be a member! Unlike investor-owned utilities, Wake Electric operates on a not-for-profit basis, meaning we run at-cost. Any revenue that exceeds our operating costs is returned to you, our members. These excess revenues are called capital credits. Wake Electric allocates and periodically retires capital credits to its members, which is based on how much electricity you purchased during a year.

This year’s distribution includes:

• 100% of the credits for 1999
• 1.84% of the credits for the years 2000 through 2023

In addition to this year’s $2 million in general refunds, Wake Electric will distribute an additional $250,000 to the estates of deceased members. If you’re handling the estate of a loved one who was a co-op member, contact us to learn how their capital credits can be claimed.

Key Details to Know

• Eligible members will receive their share of these credits in the form of a check
• Members whose refund is less than $25 will not receive a check this year; instead, their amount will roll over to future capital credit distributions.
• If you’ve moved, make sure your mailing address is up to date so you can receive future refunds

Questions About Capital Credits?

We’re here to help. If you have questions about your capital credits or need assistance, contact us at: 800.474.6300 or information@wemc.com.

This December, check your mailbox for your share of the cooperative’s success—a direct reflection of our commitment to putting our members first. Thank you for being part of Wake Electric and helping us continue to power our community with care and excellence.