DMEA Retires $3.2 Million to Its Members This Month
Delta-Montrose Electric Association is retiring $3.2 Million in capital credits this month to more than 8,000 current and former cooperative members. DMEA's Board of Directors approved the retirement in November after evaluating the co-op's financial condition.
"I'm proud that DMEA's financial health remains strong, and we are once again returning capital credits to our members. Our ability to return this money is directly related to the shared efforts towards managing DMEA efficiently," said Jack Johnston, DMEA's Chief Executive Officer.
Active and former DMEA members who purchased electricity in 1993 and 1994 will receive their capital credit this month. Retirements of $50 or less will be applied as a bill credit, and checks will be mailed to all members receiving more than $50. The average total retirement amount for a residential member is approximately $130.
How does the capital credit process work?
- DMEA keeps track of how much electricity members buy and how much they pay for it throughout the year.
- At the end of the year, DMEA completes a financial analysis and determines whether there are excess revenues, called operating margins.
- DMEA allocates operating margins back to members based on how much electricity the members purchased during the year.
- When DMEA's financial condition permits, the board of directors elects to retire (pay) those capital credits back to members.
Current cooperative members receiving a capital credit can expect to see their credit applied to their DMEA bill this month and checks to arrive within the next two weeks. DMEA also reminds members who move outside of the co-op's service territory to provide updated forwarding addresses to ensure they receive future capital credit retirements. For more information about capital credits, visit dmea.com/capital-credits.
